Connect with us

News

Killarney Credit Union reports a strong financial year

Published

on

&

 

By Michelle Crean

EXCLUSIVE 

Killarney Credit Union (KCU) is reporting a strong financial year with over €140 million in assets – and €45m available to lend in 2020.

The credit union, which held its 2019 AGM on Wednesday evening in The Mangerton Suite Gleneagle Hotel, has grown its membership by 1,319 in the past 12 months. Savings have also increased to €121.5m, while the credit union has provided €1.3 in loans each month to the local community.

The credit union has been very active during 2019 with the launch of new agri loan product in March, a €10m collaboration with 16 other credit unions in Ireland with local fintech company Fexco. In October, it launched its current account service for members which is proving very popular.

While Killarney Credit Union has enjoyed a strong financial year it is faced with a challenging economic environment, especially with increased levies, low investment returns and decreased borrowing. It is important that the credit union continues to make responsible and prudent decisions to further strengthen the credit union. As a result, Killarney Credit Union will not be paying a dividend to its members this year.

“Having enjoyed a strong year in 2019, we are now very much focused on the future,” Mark Murphy, CEO of KCU said. “We are working hard to ensure that we will further roll out enhanced services for our members and meet the demand for different services and products. We see great opportunities for the credit union to grow and strengthen for our members in the coming year and this will be our priority.”

While KCU has a membership of 34,000, only 20 percent of members actually borrow from them, he added.

“In the past year, we have seen our loan book fall by 1.15 percent, as such lending is a core aspect of the business and we would encourage everyone to consider the credit union for their lending needs.”

Killarney Credit Union joined with other credit unions in Ireland in winning the CXi award for customer experience for the fifth consecutive year.

“Working together with our members we will remain a cornerstone of the local community, and weather the current challenges we face in relation to increased levy payments.”

Advertisement

News

Green light for Torc to Dinis walkway

Published

on

By

Green light for Torc Dinis walkway

Planning approval has been granted for a long-awaited lakeside walkway and cycleway connecting Torc and Dinis inside Killarney National Park.

An Coimisiún Pleanála confirmed permission for the elevated platform project, which will complete the popular scenic loop while removing a dangerous 800-metre section along the busy N71 Killarney to Kenmare road.
Walkers and cyclists currently have to navigate narrow bends alongside heavy vehicular traffic and tour buses to complete the circuit between the Dinis and Torc car parks.
Mayor of Killarney John O’Donoghue welcomed the decision, calling it a transformative development for the region: “Since beginning in the Council in 2021, this has been one of my priorities as an issue I inherited from my predecessor Michael Gleeson, he being the first person to initially pursue the idea. I have repeatedly kept it on the agenda at Council meetings and now delighted to see we finally have positive news as this decision, which has been long overdue and eagerly awaited, will prove transformative for the area.”
Mayor O’Donoghue added: “The path, which will be on the lakeside, will offer views to rival those anywhere in the world and I have no doubt will prove very popular with locals and visitors alike. Huge credit is due to Kerry County Council and the NPWS for their co-operation on the issue. Once the decision has passed through its statutory waiting period, the design and tender stage can begin.”
The project, which will be built on a raised platform to protect the natural habitat beneath, will also be fully accessible for people with mobility issues. Killarney Chamber of Tourism and Commerce also welcomed the green light, noting that the completed loop will create a major safe attraction showcasing Muckross Lake, Dinis Cottage, and the Old Weir Bridge.
LAKESIDE PATH: An Coimisiún Pleanála has approved planning permission for a new raised walkway and cycleway connecting Torc and Dinis in Killarney National Park.

Continue Reading

News

LOCAL GOLD:

Published

on

By

LOCAL GOLD: Terrie O’Shea, founder and owner of Killarney-based business Sorella Berries, celebrating her Gold award win at the Blas na hÉireann Irish Food Awards held in Dingle last week. Her hand-crafted chocolate covered strawberries secured the top spot in national competition, earning recognition for the local food producer on the national stage.

LOCAL GOLD:

Attachments

Continue Reading

Last News

Sport