Macnean Credit Union benefits from boost to services

The funding allows the credit union to complete a series of improvements including an extension to its opening hours, refurbishment of its reception area and training for local volunteers on skills to carry out their role in an effective manner whilst achieving a Credit Union accredited qualification.

Minister Givan said: “This funding by my Department for Macnean Credit Union is timely as today is International Credit Union day . I have every confidence that it  will assist the organisation in providing an improved service for existing their existing members but importantly will encourage growth by attracting new members.

“My Department recognises the vital role credit unions play in allowing people from across our society to access financial services that are right for them. 

“The credit unions’ focus on encouraging saving and providing low-cost credit to consumers undoubtedly contributes to strengthening our communities and this is vital work that the Department is keen to support.”

The funding is part of a pilot exercise for credit unions in both rural and urban areas. Credit unions offer a core service of savings and access to affordable credit. Some larger credit unions have expanded their range of services, to include the likes of foreign exchange, budget accounts, and savings schemes with their local schools. The credit union ethos encourages financial education, with the aim of helping people to become more financially independent, and offering those people the opportunity for financial stability that might not exist elsewhere.

Kathleen Monaghan from Macnean Credit Union welcomed the funding from the Department and commented: “We would like to thank the Department for Communities for the support they have offered to Macnean Credit Union and we are delighted that we were chosen for this pilot scheme. This funding will really benefit each and every one of our members. The office refurbishment, training, the installation of a chip and pin service and the new longer opening hours on Tuesday and Thursday mornings has given out members a much-welcomed improvement to the service we provide, and better access to the credit union.

“We look forward to welcoming our members into the refurbished office, and  will continue to offer fair and affordable financial services locally with our members best interests at heart.”

For more information on how to become a member of Macnean Credit Union you can call into the office or call us 028 6638 6660 and speak to a member of staff.

Concluding Kathleen added: “The pilot programme has allowed us the opportunity to develop our online presence, and we are thrilled to announce that our website, www.macneancreditunion.com is now live. As well as information on all the services we provide, you can find our opening hours, and contact details.”

Notes to editors: 

1. The pilot will evaluate how credit unions can contribute to improving the financial capability of consumers and social security benefit claimants, with a focus on maximising access to financial products for people on low incomes. The pilot will also determine the criteria for and the extent of roll out of a full Programme in Northern Ireland.

2. Macnean Credit Union is located at 23 Railway Street, Belcoo, Enniskillen, Co Fermanagh, BT93 5FJ. It was established in 1989 and with around 800 members it is one of the smaller credit unions currently operating in Northern Ireland.

3. Macnean Credit Union is a not-for-profit, co-operative established to provide financial services to members within their common bond. This would include those who are underserved in commercial banking institutions.

4. International Credit Union (ICU) Day recognises the credit unions history and promotes its achievements. It aims to raise awareness about the great work that credit unions are doing around the world and give members the opportunity to get more involved.

5. Media enquiries to DfC Press Office on 028 90 823504 or email press.office@communities-ni.gov.uk. For out of office hours please contact Duty Press Officer via pager number 07623 974383 and your call will be returned.

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