Published: Friday, 19th February, 2010 5:00pm

Clones honoured on credit union's special anniversary

by Tom Carron

The President of the Irish League of Credit Unions, Mark Bailey, presents a copy of a commemorative booklet on the 50th anniversary of the foundation of the league to one of the Clones Credit Union's founding members and officers, Gerry Curran, at Saturday's function.
Pic by==: 97

Board members of the Irish League of Credit Unions from all over Ireland were in Clones on Saturday for a special meeting to mark the 50th anniversary of the establishment of the ILCU back in February 1960. The ILCU chose Clones for their special commemorative board meeting because it was here that the first discussions on the establishment of an umbrella body for credit unions took place and subsequently the league was formed.

Clones Credit Union is credited with being one of the first two credit unions to be established in Ireland and the first president of the ILCU was Fr. Paddy Gallagher, founder and president of Clones Credit Union who was one of the great driving forces of the concept of credit unionism throughout Ireland.

At a ceremony, following the special board meeting on Saturday, the current president of the ILCU, Mark Bailey, launched a special commemorative booklet and presented a copy of it to Gerry Curran, one of the founder members of Clones Credit Union and who like Father Gallagher was actively involved in the growth and outward expansion of the credit union movement across the island. Other surviving founder members of Clones Credit Union who were given special mention on Saturday were Dan Maguire and Raymond Cullen, as was Jim McMahon, long-serving Clones Credit Union treasurer who is a former President of the ILCU.

Warm tributes were also paid to John Hume, former SDLP leader and architect of the Peace Process, who has been a driving force in the credit union movement since its inception.

Those present at the ceremony in the offices of Clones Credit Union included the Mayor of Monaghan County Council, Heather Humphries and the Mayor of Clones, Ross Mealiff.

The president of Clones Credit Union, Maura Greenan, welcomed the ILCU board members and other dignitaries to Clones for this special occasion. She said that Clones was proud of the fact that the late Father Paddy Gallagher was first president of the league and that the local credit union was continuing to play such an active role in the life of Clones over the years. All credit unions were experiencing tough times at present and the help and direction of the ILCU was very much appreciated, she said.

"Co-operation between co-operatives is more important than before," she added.

Also welcoming the ILCU president and league board members, the Mayor of County Monaghan, Cllr. Heather Humphries, referred to the location of Clones right on the border and pointed out that the last street light on the Cavan road actually lit up an adjacent area in Northern Ireland. She spoke of the significant cultural and architectural heritage of Clones citing the Celtic cross on the Diamond, the remains of the ancient abbey and the round tower as examples of this illustrious past.

She said that in more recent times Clones is renowned as the home town of the Clones Cyclone, world featherweight champion, Barry McGuigan and of Kevin McBride famous for his defeat of Mike Tyson. Clones was also the home town of Pat McCabe, well known author of the Butcher Boy and of Eugene McCabe the celebrated playwright.

Mayor Humphries praised the role of Clones Credit Union in the life of the local community and said that the credit union was never found wanting in its support of the people of Clones. She understood that Clones CU had given in the order of €250,000 in support of various groups in Clones over recent years.

In his address, the president of the ILCU, Mark Bailey, said that it was a tremendous honour to be in Clones for this special anniversary.

Testament to volunteers

"Fifty years ago it was in this town that the concept of an umbrella body for credit unions took place. It is a remarkable testament to our volunteers, staff and members over the last 50 years that the ILCU now represents over 500 credit unions on the island of Ireland with a membership of almost three million people.

"Unlike other financial institutions credit unions continue to grow through our services and our contribution to the community," said Mr. Bailey.

The ILCU President said that the League had the foresight to establish its own savings protection scheme and this was one of the key drivers of success for the movement. Speaking of the current economic difficulties, Mr. Bailey said that these were challenging times; the economic downturn had some effect on credit unions but when one looked at the performance of credit unions over the past 50 years it had to be said that they stood the test of time. "Credit unions were born in recessionary times and we are facing similar challenges today," said the League President.

The last speaker, Gerry Curran, recalled being at the inaugural meeting of the ILCU and his memory of that occasion was quite vivid. The enthusiasm was very evident and he was proud to be present when the board of the ILCU were holding their 50th anniversary meeting in Clones. He went on to speak of the late Fr. Paddy Gallagher's unique and illustrious role in the early development of the credit union movement in Ireland.

Manager of Clones Credit Union, Brendan Jenkins, presided at the ceremony.

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