Credit Union Plus was among credit unions from across Ireland at the Collaborative Finance Annual General Meeting in Portlaoise on Wednesday 13 May, where Minister of State, Robert Troy, backed the network’s work in developing new loan products for credit union members.
Collaborative Finance is a group of credit unions working together to offer standardised loan products that allow member credit unions to broaden their loan offering in a standardised and collaborative way.
Credit Union Plus, which serves 60,000+ members across Meath, Westmeath, and Cavan, is one of 63 credit unions in Collaborate Finance.
Minister Troy, who has responsibility for Financial Services, Credit Unions and Insurance, addressed the AGM and recognised the role Collaborative Finance plays in building loan products tailored to the changing needs of credit union members and the progressive approach being taken by credit unions across Ireland to achieve this.
Minister Troy said, “Collaborative Finance’s success is built on the provision of specifically designed, standardised loan products to meet the needs of credit union members.
The existing brands, Cultivate and Greenify, support agriculture and green lending respectively and have proven popular with credit unions and members alike.
I look forward to the launch of further Collaborative Finance lending products in the areas of business and community lending, and see great opportunity for credit unions around the country to avail of them.
These products will help meet members’ needs in a standardised manner and leverage the unique community presence that credit unions are renowned for.”
Phil Hegarty, CEO of Credit Union Plus, said: “Our members should expect their credit union to be ahead of the curve. Being part of Collaborative Finance means we are at the table with credit unions from every corner of the country, looking at what is coming next and making sure our members get there first. We’re already delivering farming loans to our members which is proving exceptionally popular and Greenify is making a difference for homeowners looking to save money by making their homes and cars more energy efficient. “
Therese Conway, CEO of Collaborative Finance, said: “Having Minister Troy at our AGM and hearing his public support means a great deal to our credit unions members and the communities they serve.”