Mayo’s First Choice Credit Union Limited has released its year-end 2021 results, which remain stable despite continued economic challenges posed by the Covid-19 pandemic.
The Castlebar-based financial institution has provided nearly 17 million euros in loans to the local community over the past year and now has more than 34,000 members.
First Choice Credit Union is now very focused on the year ahead and beyond, and continues to work hard to ensure that its valued members receive both the best possible service as well as a wider range of products. .
James McLoughlin, Chairman of the Board, said: “Despite the unprecedented challenges faced, First Choice Credit Union continued to serve its members throughout the pandemic and our goal throughout the pandemic has been to continue. to work in the way that best suits our members.
“We know our members value the ongoing service we provide. At First Choice Credit Union, we can assure our members that we will continue to be a trusted source for their financial needs.
“We also want to take this opportunity to thank all our members for their loyalty.
“By working with our members, we will remain a cornerstone of the local community and overcome the current challenges we all face.
“It is important that the credit union continues to make responsible and prudent decisions.
“As a designated essential service, we make building the credit union a priority and will continue to be there for our members. “
James continued, “At First Choice Credit Union, we recognize and appreciate your support. For this, we thank you and assure you that together and with your continued loyalty, we will continue to make a positive difference for our community.
The Annual General Meeting has been the ideal platform to inform members of recent developments in products and services.
In 2021, First Choice Credit Union launched a large new personal loan of 5.90% (6.06% APR) that provides members with greater value when borrowing for larger amounts, particularly between € 50,001 at € 80,000 and a 6.50% (6.70% APR) Business / Agri Unsecured loan for amounts of € 1,000 to € 80,000, offering greater choice to businesses and the farming community.
During the year, First Choice Credit Union partnered with Irish Life to provide a free financial review service to members, opening the doors to a comprehensive and competitive set of protection and investment options.
Other welcome news has come in the form of an extension of Strategic Banking Corporation’s Covid-19 credit guarantee program through June 2022, a program in which First Choice Credit Union is an approved lender.
This is a government-backed program to help SMEs and primary producers who have been negatively affected by Covid-19, access loan facilities to support the continued viability of their business during and after the pandemic. .
Additionally, to meet the needs of residents of Ballyhaunis and the surrounding area, who now have no bank branches, First Choice Credit Union has confirmed that it will provide the only on-street ATM service available 24/7. 7 in the city.
Once the necessary prep work is complete, it is expected that the ATM will be up and running by the end of December or early January, which is undoubtedly a fine example of the credit union putting the community and the needs together. members in the foreground.