Celebrating 50 years of Nenagh Credit Union

A major milestone will pass this Saturday as Nenagh Credit Union celebrates its 50th anniversary.

There will be lots going on for all to enjoy throughout the day, including the launch of 50 prizes of €50 to help underline the significance of the occasion.

It all began back in 1969 with the foundation of Nenagh Credit Union at the Legion of Mary Hall on Kenyon St. Though the concept of a credit union was alien to many people back then, the Nenagh enterprise got off to a strong start. At the time, Nenagh Credit Union had approximately £350 and 120 members.

Three years later, long-serving board member Micheal Geaney joined the credit union. The late Mr Geaney would later recall the frugal formative years of the union. Nothing went to waste; the volunteers even had to purchase pencils and stationary at their own expense.

In the 1980s, Nenagh Credit Union transferred its business to the old potato store on Silver St, eventually opening a fulltime office with Joan Hynes as manager.
There was a major triumph in 1995 when Nenagh Credit Union reached the million pound mark in savings, an achievement that saw the local enterprise honoured as Ireland’s best performing credit union in that year. It was also the year that the late Frank Lynch was elected to the Irish League of Credit Unions Board on his way to become treasurer and eventual president of the league.

Perhaps the most significant milestone in Nenagh Credit Union's 50-year history came the following year when President Mary Robinson visited Nenagh to officially open the new premises on Kickham St. Hundreds of people lined the streets to the greet the President on a fine day in March.

Chairman Fank Lynch greeted the esteemed guest before calling on her to cut the tape. As Guardian editor of the time Gerry Slevin remarked, the credit union's new home in an old corn store built 140 years previously, made “a considerable enhancement to the town's architectural wellbeing”.

President Robinson, a great supporter of the credit union movement, said it was good to see such a vibrant branch active in Nenagh. “I have received a lot of documentation about the Nenagh Credit Union which I find most impressive,” she commented. “Your membership has been built up to more than 5,600 and what pleases me in particular is the fact that you have over 700 juvenile members.”

In the ebullient times that followed, Nenagh Credit Union attained savings well in excess of €50 million. It prevailed through the difficult years of recession and has adapted to modern demands with a tasteful rejuvenation of the Kickham St offices completed in 2015. New additions include an interview room for private consultations and a lift to bring staff to the first and second floors, while the credit union's IT system and online facilities have been upgraded so as to allow the addition of further services in the future.

This year has seen the introduction of lots of new services including online facilities, mobile phone app, quick lodgement service, online currency ordering and online loan applications. Nenagh Credit Union is also looking for ways to improve service and product offering to members. There is an exciting new product in the pipeline, which will be launched very soon.

2019 has also seen the retirement of Margaret Grace, long-serving Manager and CEO of Nenagh Credit Union.

As it enters the second half of its first century, Nenagh Credit Union is in a strong place with more than 15,000 members and savings of €52.5 million.
A warm welcome is extended to all to join in the 50th anniversary party this Saturday, with Tipp FM broadcasting from the Kickham St centre between 11am and 2pm and featuring interviews with Chairperson Margaret Shanahan and others involved in the credit union story. There will also be a hamper up for raffle and 50 €50 vouchers purchased from local businesses to be given out over the month of April.

As part of the 50-year anniversary, local secondary schools were invited to produce a video for the celebrations – the winner will be announced on Saturday. And there will be a face painter and treats for children, as well as refreshments for all the enjoy throughout the day.   

Reflecting on the last five decades, everyone at Nenagh Credit Union would like to thank all of their members for their support over the years, as they look forward to serving the needs of Nenagh and its hinterland for many more years to come. A special thanks also to all the volunteers who served Nenagh Credit Union down through the 50 years; it is not possible to name them all but their hard work and time volunteering remains greatly appreciated by the community.