Our credit union changes name to North Midlands Credit Union

Back from left, Niamh Penrose, Lorraine Corroon, Edna Blake (director), John O’Reilly, (director), Michelle Gordon, Derek Smith (assistant director) and Yvonne Craig; in front, Tom Allen (Director), Conor Isdell (Chairman), Gerard Connolly (Board Oversight Committee) and Paul Isdell (Director).

On Tuesday 1 March 2022 Mullingar Credit Union officially changed its name to North Midlands Credit Union.

This follows the decision of Mullingar Credit Union members at the Annual General Meeting held on March 3, 2021 to pass the resolution proposed by the Board of Directors for the rebranding and name change.

Following the credit union’s significant expansion through the four transfers of commitments from Castlelost Credit Union, Kinnegad and District Credit Union, Castlepollard Credit Union and Longford Credit Union, the Board recognized that the Mullingar name does not did not adequately encompass the vast geographic area or population covered by our now vastly expanded common bond.

This now stretches from the northern border of Longford south through Westmeath to Rhode in North Offaly and from Ballynacargy to Kinnegad.

Nuala Boylan and Castlepollard Affiliate Karen Gaffney. Photo by Anna Allen Photography

Changing our name to North Midlands Credit Union allows us to be more inclusive, recognizable and instill a sense of belonging and ownership in all our members.

This will enable us to be stronger, more resilient and to provide ever more essential services to all our members and to potential members in all the communities of our common bond.

Marcella McDonald and Colette Browne, Kinnegad Branch. Photo by Anna Allen Photography

It will also allow us to take full advantage of the many opportunities presented by our expansion to increase our business, membership and loan portfolio.

The growth and development of North Midlands Credit Union and its position of strength today is proof of the commitment and skill of the many employees, directors, board oversight committees and volunteers who have given their time and energy over many years in Rochfortbridge, Kinnegad, Castlepollard, Longford and Mullingar.

Margaret Smith and Irene Mooney, Rochfortbridge Branch. Photo by Anna Allen Photography

It is also a reflection of the value and trust placed in it by the most important people in the credit union – our members.

Our name has changed, but we are still the same credit union offering the same professional service to all of our members. Our friendly staff remains the same and will continue to provide the same personalized service to each member.

Nicola Burke, Melissa Rabbitt and Maeve Duffy, Longford branch. Photo by Anna Allen Photography

KEY EVENTS

1962 – A group of credit unions formed at St Mary’s Hall, Mullingar.

1963 – Mullingar Credit Union has officially opened.

1968 – Mullingar Credit Union bought a site in Mary Street and built its own premises.

1968 – Permanent staff has been hired for the first time.

1972 – Membership exceeded 1,000, shares were £103,700 and outstanding loans were £90,200.

nineteen eighty one – Members’ shares and outstanding loans exceeded £1,000,000 for the first time.

1983 – Membership exceeded 5,000.

1984 – Mullingar Credit Union has purchased premises in Oliver Plunkett Street, Mullingar.

1985 – The credit union has changed its name from St Colman’s Credit Union to Mullingar Credit Union.

1986 – Computers were introduced for member transactions for the first time.

1989 – Extension and renovation of Mullingar offices (completed in August 1990).

1992 – Membership exceeded 10,000.

1997 – Mullingar Credit Union launched ATM service.

1998 – Membership exceeded 20,000.

2005 – More than 29,000 members and assets of more than 170 million euros.

2012 – Mullingar Credit Union celebrated its golden jubilee with over 30,000 members, assets of €170 million and loans of €48 million.

2014 – First transfer of commitments for Mullingar Credit Union. Castlelost Rochfortbridge Credit Union, established in 1971, joined Mullingar Credit Union with assets of €3.5 million and 1,500 members

2016 – Kinnegad Credit Union founded in 1996 joined Mullingar Credit Union with assets of €3.7 million and 1,670 members.

2016 – Mullingar Credit Union has completed a major redevelopment and extension of its main office in the Mullingar Town Mall.

2019 – Castlepollard Credit Union, founded in 1969, joined Mullingar Credit Union with assets of €13.3 million and 2,400 members

2019 – Launch of current accounts as an additional product offer to members.

2020 – Longford Credit Union, founded in 1969, joined Mullingar Credit Union with assets of €50.3 million and 12,950 members.

2021 – Mullingar Credit Union at the end of the financial year 9/30/21 had 58,000 members, assets of €407m, loans of €86m and a staff of 59.

2022 – Mullingar Credit Union has changed its name to North Midlands Credit Union.

2022 – In November, the North Midlands Credit Union will celebrate its 60th anniversary.

How to volunteer

Volunteers are the heart of every credit union. The Board of Directors is made up of volunteers chosen from among the membership and is supported by volunteer committees and project volunteers with key skills.

Whether you are looking for a leadership role, to gain experience and training, or want to give back to your community within a social network, credit unions offer valuable volunteer opportunities.

If you want to know more, send an e-mail to [email protected] or call 044-9348817.

How are credit unions different?

TO IMAGINE a more ethical financial institution that exists solely for the benefit of its members, not to take advantage of them.

TO IMAGINE a more truly community-oriented financial institution.

TO IMAGINE more personalized customer service.

TO IMAGINE a more flexible leader who understands you!

Supporting our community through social and cultural funding

As well as providing a wide range of non-profit financial services, North Midlands Credit Union also supports our local communities in many other ways. We provide sponsorships and grants through our Social and Cultural Fund to social, cultural, sporting and charitable organizations, including community development.

The purpose of this fund is to recognize and financially support voluntary organizations that make such a valuable contribution to the quality of life within the local community.

The fundraising initiative is now in its 24th year and has so far provided a total of €1.8 million to local voluntary organisations.

The board approved a fund of €152,000 for the year ended September 30, 2021 for these purposes. During the year, grants were awarded to 306 groups.

The North Midlands Credit Union also supports credit unions in developing countries through an annual contribution to the Irish League of Credit Unions Charitable Foundation and support from the World Council of Credit Unions.

Caring for young people in our community

• Quiz on primary schools

• Primary School Savings Plan

• Secondary School Quiz

• All Ireland Art Competition

• Clued-in – educational program for secondary schools

• Low-rate university loans

• Fund for secondary schools

• Current account and debit card

www.northmidlandscu.ie

E-mail: [email protected]

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