Connect with us

News

Killarney Credit Union reports a strong financial year

Published

6 years ago

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.”

Related Topics:
Advertisement

News

Killarney welcomes home Kevin ‘The Kingdom Warrior’ Cronin

Boxer Kevin ‘The Kingdom Warrior’ Cronin received a warm homecoming in Jimmy O’Brien’s Bar on College Street on Sunday evening following his victory in Dublin last weekend, where he was […]

Published

3 hours ago

on

18 October 2025

By

Boxer Kevin ‘The Kingdom Warrior’ Cronin received a warm homecoming in Jimmy O’Brien’s Bar on College Street on Sunday evening following his victory in Dublin last weekend, where he was crowned Irish Light Heavyweight Champion.

Mayor of Killarney Cllr Martin Grady was on hand to officially welcome the new champion home, congratulating him on what he described as “a proud moment for Killarney and for Kerry sport.”
Cronin, who is sponsored by Jimmy O’Brien’s Bar, claimed the vacant national title after a hard-fought ten-round battle against Cork’s Cathal Crowley at the National Stadium, Dublin, on Friday night last.
The Kerry fighter won by majority decision, with the judges scoring the contest 95-94, 97-93 and 95-95. The result capped off years of dedication and hard work for Cronin, who now holds an 11-3-1 professional record.
Speaking at the homecoming, Cronin thanked his supporters and sponsors for their backing throughout his career.
“It’s unbelievable to bring this title to Kerry,” he said. “The support from home means everything. This one’s for everyone who’s been with me from the start.”
Crowds packed into Jimmy O’Brien’s Bar to celebrate the achievement, with music, photos and plenty of local pride on display.

Continue Reading

News

Concerns over future of St Mary of the Angels

Two Kerry TDs have voiced concerns over the future of St Mary of the Angels and St Francis Special School in Beaufort, highlighting the urgent need for respite services for […]

Published

22 hours ago

on

17 October 2025

By

Two Kerry TDs have voiced concerns over the future of St Mary of the Angels and St Francis Special School in Beaufort, highlighting the urgent need for respite services for children and adults with profound disabilities and special needs.

The campus, set on lands generously donated by the Doyle family, offers 30 acres of grounds, existing buildings, and services, making it a valuable asset for the provision of respite care in Kerry. TD Michael Cahill emphasized that the Doyle family’s wishes should be respected, and that the grounds should be made accessible immediately.
“The special needs community in Kerry has a major respite crisis and families don’t have time to wait. Families need help — they are not asking for full-time residential care but respite care, a break, a helping hand,” Deputy Cahill said.
He added that a bespoke approach is needed to meet the individual needs of children attending St Francis Special School. “Many of the children in the county with profound needs need a safe haven where they can roam the grounds freely, and St Mary of the Angels offers this.”
Deputy Cahill has accompanied several Ministers to the Beaufort campus to highlight its value to Disability Health Service providers. A working group has been formed including St John of Gods, the HSE, representatives of residents at St Mary of the Angels, and St Francis Special School, to explore options for maintaining and expanding respite services.
“Parents are worn out and at the end of their tether. This needs to be dealt with expeditiously, in an environment of cooperation between the relevant Government Departments of Health, Disability, and Education. We need to get this across the line urgently and put it permanently in place,” he said.
Deputy Cahill pointed to the current shortfall of respite services in Kerry. “As of now, Cunamh Iveragh respite in Cahersiveen is only open Friday to Sunday, running at half capacity — two adults per night instead of four. The issue is staffing, and the HSE will not release funding to open full-time. The Beaufort campus is available and should be utilised as parents are crying out for overnight respite. Cooperation and compassion could see this done quickly.”
TD Danny Healy Rae echoed these concerns during a Dáil speech this week. “We are still short of respite beds on the southern side of the constituency. Families caring for people with disabilities just want a break, but there is nowhere available locally. Places are being offered only in Tipperary or Meath for those needing new residential care. It makes no sense. St Mary of the Angels in Beaufort has 40 or 50 acres of grounds that could be expanded, with facilities already in place such as swimming pools. It could be developed as a model for the rest of the country.”
Both TDs are urging the Government and the HSE to take immediate action to utilise the Beaufort campus for respite care, in line with the intentions of the Doyle family and the needs of Kerry families.

Continue Reading

Last News

News3 hours ago

Killarney welcomes home Kevin ‘The Kingdom Warrior’ Cronin

Boxer Kevin ‘The Kingdom Warrior’ Cronin received a warm homecoming in Jimmy O’Brien’s Bar on College Street on Sunday evening...
News22 hours ago

Concerns over future of St Mary of the Angels

Two Kerry TDs have voiced concerns over the future of St Mary of the Angels and St Francis Special School...
News1 day ago

Cardiac Response Unit’s ‘Restart a Heart’ training event

Killarney Cardiac Response Unit (KCRU) is set to run a range of events as part of the global initiative Restart...
News1 day ago

Killarney Athletic stalwart Donie does it for the love of the game

Ahead of Killarney Athletic’s 60th anniversary, Adam Moynihan spoke to club stalwart and current chairman Donie Murphy about his passion...
News1 day ago

Hosts Killarney defeat neighbours Tralee in local ‘Ryder Cup’

A team representing Killarney Golf and Fishing Club took part in a Ryder Cup style tournament against their neighbours from...

Sport

Sport19 hours ago

Lakers aiming to secure first win at home to Malahide

The Utility Trust St Paul’s Lakers will be hoping for a turn of fortunes this weekend after suffering a defeat...
News2 months ago

Clifford brothers to test their game against golf’s elite

Kerry footballers Paudie and David Clifford will take on some of the biggest names in golf when they line out...
News3 months ago

Athletic’s Luke Doolan Signs for Kerry FC

Killarney teenager Luke Doolan has signed for Kerry FC, making the move from local side Killarney Athletic. The 17-year-old forward...
News3 months ago

Time change for Kerry team homecoming in Killarney

Celebrations are set to get underway in Killarney tonight as the Kerry team make their way back to the Kingdom...
Sport4 months ago

Injured Kerry quartet return for do-or-die showdown with Cavan

by Adam Moynihan All-Ireland Preliminary Quarter-Final Kerry v Cavan Saturday 3.30pm Fitzgerald Stadium Key players Brian Ó Beaglaoich, Diarmuid O’Connor...