Mayo organisations benefit from ClannCredo's €215m. funding

Irish social finance organisation, ClannCredo, has provided over €215 million in finance to community and voluntary groups, sports clubs, climate action initiatives, social enterprises as well as social housing in Ireland since 1996.

Among those to benefit are Clár ICH, Cong Community Centre and Achill GAA.

As the largest social finance provider in Ireland, Clann Credo has a current loan book of over €50.3 million, providing much needed capital to community and voluntary groups around the country. Working like a social bank, Clann Credo has supported more than 1,500 organisations in the community, providing lending that uniquely places the focus on the social impact potential of a project.

Speaking at the Clann Credo Conference held in Croke Park today, Minister for Finance Jack Chambers T.D. said, “It’s clear Clann Credo are making a real social impact on the ground around the country, through their support of community, sporting and voluntary groups.

"I have seen this first hand as a public representative and as a Government Minister visiting towns and villages in every county up and down Ireland.

"The level of social finance required in Ireland over the last number of years demonstrates the need for this type of finance, and reflects the huge ambition of local community groups to making a difference in their areas.”

Clann Credo Chief Executive Mary Lawlor said, “With a current loan book of €50.3 million, Clann Credo is strategically positioned to build on our customer base and respond effectively to evolving community needs and ambition.

"The feedback from the 250 delegates at our conference today signals an increase in community ambition throughout Ireland which gives us confidence to scale our work and reach more communities who share our mission for positive social change.”