Assets of Ballina Credit Union approach the €100m mark for the first time

In a year that saw Ballina Credit Union launch its first ever current account and debit card, chairperson Mark Winters told the recent annual general meeting that the member-owned organisation is now seeing its assets approach the €100 million mark – a figure never previously achieved by the Ballina-based financial co-operative.

The meeting, held in the Great National Hotel Ballina on February 28 last, heard that the accounts for 2021 were in a healthy state despite the serious impact of Covid-19 restrictions across the economy.

Mr. Winters was re-elected as chairperson for the year ahead, with David Dwane elected vice-chairperson and Thomas Connor secretary.

In spite of the challenges of Covid-19, loan book growth at Ballina Credit Union was above the national average in 2021, with over €18m on the loan book by year end. Ballina Credit Union enjoyed a surplus of almost €480k for last year.

“Even though 2021 was an eventful year with many challenges, your credit union has forged ahead with new developments and extra services to you, our members,” said Mr. Winters.

A significant number of members have already signed up for the new current account and debit card product, while Ballina Credit Union also launched its new app last year as it continues to meet the growing needs of members.

This positive news comes as banks look to reduce some of their services in the local community and developments in the fintech sector increase expectations for new products.

Tribute was paid to former chairperson Pat Diamond, who stepped down from the board of Ballina Credit Union following a number of years' service.

The directors for the upcoming year are: Mark Winters, David Dwane, Thomas Connor, Margaret Reddington, Eugene Maguire, Fionn Sweeney, Nuala Carey, Mary Barrett and Stuart Edmeades.

Board oversight committee members are Sean McDonnell, Ann Conlon and Eimear Thornton.

Ballina Credit Union’s debit card, which facilitates contactless payments through Google Pay, Apple Pay and Fitbit Pay, and can be used at ATMs, is now available to all members. You can apply online at www.ballinacu.ie or telephone (096) 71066.