The board of the Sheephaven Credit Union annual general meeting reported a successful year with growth in membership as well as the opening a new premises in Carrigart this year. Members were updated at event held in Dunfanaghy Golf Club on Tuesday.
President Richard Hunter welcomed everyone to the event and outlined it had been a busy year for all the members. “Thankfully we have the bulk of the work well cleared up now. As you aware we have also opened our new office, formerly the North Star, which was a very time consuming project, and my thanks to the committee and all the board members, management and staff for all their hard work and help, with what turned out to be a lovely building. My thanks also to Kelly and Sons Contractors who made the whole project go very smoothly,” he told the members.
He outlined the former pub building was purchased and constructed at a cost of €486,181 into a fine modern building with improved facilities and more space. “I hope you think that it was money well spent,” Richard added.
He also clarified that despite speculation that had been brought to their attention that the building was bought from ESB Building Society through Property Partners in Letterkenny and not from board member Noel McBride whom he said had “nothing to do with” the sale.
The president added he was pleased to announce to members that they were in a position to pay a small dividend again this year.
Auditor Seamus Devine outlined that it was great to see continued growth in what he described as “fine performance through out the year”.
Michelle Brennan gave an update on behalf of the Board Oversight Committee. Aisling Cullen urged those who needed assistance to contact them. Bridget Duffy outlined the average loan was €3,281 adding their car loan rate had proved popular and will be returning in 2015 from January to March, and July to September. Grace Giles from the Membership Committee said there was 170 new members in 2014 and Angela McFadden gave a colourful slide show presentation of events through the year and promotional highlights of the year. Special tribute was paid to Frances Roberts who is stepping down from the board after 17 year loyal service to the Sheephaven Credit Union.