Mayo's First Choice Credit Union set to meet Ballyhaunis ATM need
Mayo's First Choice Credit Union Limited has reported its 2021 year-end results, which remain steady despite the continued economic challenges posed by the Covid-19 pandemic.
The Castlebar-based financial institution has provided almost €17 million in loans to the local community over the past year and membership now exceeds 34,000.
First Choice Credit Union is now very much focused on the year ahead and beyond, and continues to work hard in order to ensure that its valued members, are receiving both the best service possible along with a broader range of products.
James McLoughlin, chairperson of the Board of Directors, stated: “Despite the unprecedented challenges faced, First Choice Credit Union has continued to serve its members throughout the pandemic and our focus throughout has been to continue to work in a way that best works for our members.
"We know our members value the continued service we provide. At First Choice Credit Union, we can assure our members that we will continue to be a reliable source for their financial needs.
"We also want to take this opportunity to thank all of our members for their loyalty.
"Working together with our members, we will remain a cornerstone of the local community, and weather 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 are prioritising strengthening the credit union and we will continue to be there for our members.”
James continued, “At First Choice Credit Union, we recognise 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 to our community.”
The annual general meeting served as the perfect platform to inform members of recent developments of products and services.
In 2021, First Choice Credit Union launched a new 5.90% (6.06% APR) Large Personal Loan which offers members greater value when borrowing for larger amounts, specifically between €50,001 to €80,000 and a 6.50% (6.70% APR) Business/Agri Unsecured Loan for amounts of €1,000 to €80,000, providing greater choice for the business and agricultural community.
During the year, First Choice Credit Union teamed up with Irish Life in providing a free financial review service for members, opening doors to a comprehensive and competitive set of protection and investment options.
More welcome news came in the form of an extension to the Strategic Banking Corporation Covid-19 Credit Guarantee Scheme to June 2022, a scheme in which First Choice Credit Union is an approved lender.
This is a government supported scheme to assist SME Businesses and Primary Producers that have been adversely impacted by Covid-19, to access loan facilities to support the continued viability of their business during and after the pandemic.
In addition, to meet the needs of the people of Ballyhaunis and its environs, who now have no bank branch, First Choice Credit Union confirmed it will provide the only 24/7 on-street ATM service available in the town.
Once necessary preparation work has been completed, it is anticipated that the ATM will be in service by end December or early January in what is undoubtedly a fine example of the credit union putting community and member needs to the fore.