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History
History of Muintir Clanna Caoilte Credit Union Ltd
The first AGM was held on 4th October 1966 in O’Donovan’s Hotel, Pearse
Street, Clonakilty. Rev. Monsignor John Barrett PP attended and
mentioned the following – how he had been on a visit to the USA with
Bishop Lucey I 1959 and while there saw the success of the Credit Union
Movement. He collected as much information as he could and gave it to
Archdeacon Duggan who started the first Credit Union that was south of
Dublin. This was Ballyphehane in Cork City, in 1960.
Rev Fr. Tom O’Riordan also attended and said the following “the purpose
of a Credit Union is to encourage savings and to afford its members an
opportunity to borrow for provident or productive purposes at a
reasonable rate of interest”.
The Credit Union in Clonakilty started from a suggestion made at a
meeting of the Clonakilty branch of Muintir Na Tíre, (hence the name
Muintir Clanna Caoilte Credit Union Ltd). After this a study group was
formed, and weekly meetings were held. Their purpose was to study bylaws
and the running of the Credit Union.
From this Study Group, a Board of Directors was elected at the first
AGM. The following people were elected:
| President |
Rev Fr Tom O’Riordan CC |
| Vice-President |
Mr Paul Blewitt |
| Treasurer |
Mr Michael McCarthy |
| Hon.Secretary |
Mr Donal O’Reilly |
| Other Board Members |
Miss Kitty Smith(McCarthy)
Mr Martin Patwell
Mr Shamie O’Donovan
Mr Dan (Dash) Donovan
Mr Dan O’Hea |
*some officers were elected for two years, others for one year.
| Credit Committee: |
Mr Martin Patwell
Mr Shamie O’Donovan
Mr Dan (Dash) Donovan
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| Supervisory Committee: |
Mr Michael O’Donovan (Darby) 2yrs
Sergt. T Horan 1yr
Mr J Creedon 1yr |
Mr S O’Brien (Skibbereen Credit Union) and Mr CMcCann (Bandon Credit
Union) also attended the first AGM and were thanked for their help in
starting up Clonakilty Credit Union.
First Monthly Meeting
This took place on Monday 10th October 1966 at 24 Rossa Street. Loans to
members without security were given at 5% of total assets in excess of
share balance of members up to £50.00. Loans to members with security
were given at 5% of total assets in excess of share balance of members
up to £100.00
Third Monthly Meeting –December 1966
The age to join the Credit Union as a member was to be sixteen years.
The opening hours were fixed at 7.30-8.00pm on Friday nights only.
Fourth Monthly Meeting – January 1967
Sergeant T Horan and Mr J Creedon were transferred from Clonakilty in
their employment. Mr Brendan O’Donohoe (National Bank) and Liam Ahern
(Town Clerk) were co-opted to replace them. £500.00 surplus Capital was
invested.
Sixth Monthly Meeting - March 1967
It was decided to move in April 1967 to the Boys Scout Hall at a rent of
£10.00 per annum. The maximum loan given to members was raised from
£100.00 to £200.00. The address of the Credit Union was fixed at the
home of the Treasurer/Manager, Michael McCarthy, 5 Assumption Place,
Clonakilty.
Juveniles (aged 8 to 16 years) were now allowed to become members.
Eleventh Monthly Meeting- August 1967
The Board went through the names of members to get a list of tellers and
ask them to become involved in the work of the Credit Union. From this
on, weekly tellers were appointed at each monthly meeting. This practise
continued until the mid 1990’s.
November Monthly Meeting 1967
The Technical School, Western Road, put an “Adding Machine”, at the
disposal of the Credit Union and so the Board of Directors were free
from the worry of trying to raise the price of its purchase.
April Monthly Meeting 1973
A premises in Kent Street was purchased at public auction by the Credit
Union. Builder Thomas (Sonny) Cahalane, McCurtain Hill under took to do
some renovations to the building at a cost of £120.00 over a period of a
month.
The new opening hours would be 8.00-9.30 Fridays, and 1.30-12.00
Saturdays.
23 February 1974- A Special Meeting
The Board of Directors met to pass a vote of sympathy to the wife and
family of Mr Paul Blewitt (President) who had just died. Mr Liam Aherne
was elected to replace Mr Paul Blewitt RIP as President and Mr Martin
Patwell was elected to replace Mr Liam Aherne as Treasurer.
AGM 1974
It was at the Credit Union Office in Kent Street for the first time.
71/4% dividend was given
There were eleven loans totalling £3,125.00
Share withdrawals were £105.00
The Credit Union sought and were granted an overdraft in the Bank
August Monthly Meeting 1975
The question of tellers was raised and it was decided to encourage them
to be in their place at least 5 minutes before opening the office on
Friday nights in Kent Street.
October Monthly Meeting 1975
The following was decided by the Board of Directors to put to the
members at the AGM.
£3612.40 was available for distribution to members-7% dividend
The balance of £276.46 to be added to Special Reserve. £150.00of an
Honorarium to be paid to the Treasurer, Mr Martin Patwell.
May Monthly Meeting 1976
A detailed discussion took place on the time and place of applying for
and receiving loans. It was decided that except in an emergency loan
applications would only be taken on Monday Nights and paid out on Friday
nights. It was left to the Credit Committee to decide what constitutes
an “emergency”.
October Monthly Meeting 1976
There were 500 members.
An auditor Mr Vincent Hurley was selected (he is still the credit union
auditor).
It was decided to purchase a calculating machine, an electric kettle and
some cutlery and ware.
May Monthly Meeting 1977
Loans totalling £8000.00
Credit Union joined CIA (Central Investment Agency)
June Monthly Meeting 1977
It was felt that the premises in Kent Street were too small. It was
decided to look into the purchase of the next door premises. Mr Billy
Houlihan was to be asked to look at this premises.
October Monthly Meeting 1980
It was felt that there was a permanent position for someone.
October Monthly Meeting 1987
The first meeting of the Board at the new premises in Pearse Street,
purchased for £43,000.00.
The painting of the office and boardroom was done by the Board Members,
when builder Thomas (Sonny) Cahalane had completed renovations on the
first floor. Builder Pat Hennessy did further renovations on the upper
floors, at a cost of £17,914 (inc. VAT)
January Monthly Meeting 1988
The Assistant Manager, Mr Michael Ryan, replaced Mr Martin Patwell as
Manager. He remained in that position until his retirement in July 1999
February Monthly Meeting 1988
Staff was asked to keep offices clean in the first floor of the Credit
Union Building. The Board Members agreed to rotate on a fortnightly
basis the cleaning of the other two upper floors.
August Monthly Meeting 1988
One hundred loan applications for month of August totalling £71,085.00
It was agreed to give 6% dividend.
November Monthly Meeting 1988
A new typewriter at a cost of £150.00 was purchased
April Monthly Meeting 1989
The first discussion on a computer system for the Credit Union took
place. It was decided that the number of members didn’t warrant one.
May Monthly Meeting 1989
A £7,000.00 provision was made for bad debts.
February Monthly Meeting 1990
Investments in the Credit Union passed half a million pounds.
March Monthly Meeting 1990
A cleaner to be employed on a regular basis.
The maximum uninsured loan was £7,000.00
The maximum insured loan was £10,000.00
Repayments of loans were still not to exceed 10 years.
April Monthly Meeting 1990
The fee for a half-yearly audit by Vincent Hurley was £430 plus VAT.
Mrs Christine Crowley was employed to clean the offices.
May Monthly Meeting 1990
1550 members
July Monthly Meeting 1990
Mrs Mary Fleming employed to clean the office.
AGM November 1990
6% dividend
Mrs Maureen O’Donovan retired. She was with the credit union since 1967.
£20,000.00 Bad Debt Provision.
January Monthly Meeting 1991
The field officer on a visit to the Credit Union said that the average
savings per member was £1,000.00
February Monthly Meeting 1991
Rosscarbery Sub-Office opened on Friday 15th February 1991, with eight
new members and cash received on the night was £1,175.00
July Monthly Meeting 1991
It was agreed to employ Miss Marie O’Leary for 2-3 weeks holiday
work.(Marie is still working with the Credit Union)
August Monthly Meeting 1991
It was agreed to employ Miss Marie O’Leary permanently at the end of a
six month probate period.
October Monthly Meeting 1991
25th Anniversary of the Credit Union. It was celebrated with an Open
Day, Mass and a feature on the Southern Star newspaper.
February Monthly Meeting 1992
It was agreed to computerise the accounts. Siemens Nixdorf were to be
asked to come and make a presentation to the Board.
April Monthly Meeting 1992
Staff Uniforms were introduced on Friday 27th April
July Monthly Meeting 1992
A computer system was installed in the Credit Union
December Monthly Meeting 1993
Group membership of VHI to be offered to members.
January Monthly Meeting 1994
Board of Director Tim Dineen was wished well and congratulated on his
marriage. He was the first person to get married while on the Board.
June Monthly Meeting 1994
Miss KateDeasy was employed as a full-time member to replace Mrs
Margaret O’Donovan.
August Monthly Meeting 1994
Death Benefit Rider to Life Savings control agreed and available to
Credit Union members.
January Monthly Meeting 1996
Death Insurance Benefit to operate for members from 15th January 1996
April Monthly Meeting 1996
It was decided to approach Mr Edward Twomey about purchasing a site in
Kent Street for a new Credit Union premises. Mr Kieran Murphy (Chairman)
and Mr Kevin Mullen were appointed to meet with Edward Twomey.
May Monthly Meeting 1996
Mr Edward Twomey was willing to sell or lease a site on Kent Street, but
the building must be three storeys high or two storeys with a very high
roof.
June Monthly Meeting 1996
Credit Union assets reached £6 million
October Monthly Meeting 1996
It was proposed by Mr John Moloney and seconded by Mrs Janet Murphy and
unamionously agreed by the Board, to buy the site in Kent Street from Mr
Twomey.
July Monthly Meeting 1997
Mr Kevin Mullen went to the World Council of Credit Unions in Vancouver,
Canada.
AGM 1998
Education Certificates presented by Mr Pat O’Leary to members who
attended classed from September to May 1997/1998, on the Credit Union
Acts, Rules Procedures. Mr Pat O’Leary gave these classes.
July Monthly Meeting 1999
A new manager, Sean Hayde, appointed to replace Mr Michael Ryan
(retired)
February 2000
Mrs. Karen Enright employed.
April 2000
Saturday Opening was introduced from 9.30am-12.30pm.
AGM 28th November 2001
The Euro used as a book figure in the credit union since 1st October ’01
with a full change over from 1st January 2002.
New Credit Union premises in Kent Street almost complete, and an open
day will be held for all members.
January 2002
Mr. Val O'Sullivan employed.
AGM 2002
Move to a new building completed since December 2001. Miss Sinead
McCarthy and Miss Emma O’Keeffe joined the staff.
Members Draw introduced.
Official opening of the Credit Union premises on Saturday April 13th
’02. Performed by the President of the Irish League of Credit Unions, Mr
Jim McMahon. The building was ecumenically blessed by the Reverend
Damien Boyle, Rev Ian Jonas, and Monsignor Denis O’Sullivan. Also
present were Mr Jerry Foley President of the World Council of Credit
Unions, Mr Martin Sisk Registrar of Friendly Societies, League Directors
John O’Regan and Michael O’Callaghan and special guest Mr Bobby McVeigh,
Vice-President of the World Council of Credit Unions and Director and
past Chairman of Credit Union Central of Canada, who travelled from
Toronto.
AGM 2003
Dividend of 1.75%
Credit Union newsletter introduced.
Loans granted were €6,373,974
Member Shares were €14,778,216
Eleanor Bennett retired from the Board.
John O’Sullivan co-opted to the Board, and Denis O’Sullivan transferred
to the Supervisory Committee.
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