Newry Credit Union AGM reflects on a strong year
Newry Credit Union held its Annual General Meeting last month in the Canal Court Hotel, bringing together members and the Board of Directors to reflect on another strong year of service and community impact.
The chair, Sean Hogan, said the AGM, “provided an important opportunity for members to review the Credit Union’s performance over the past financial year, to ask questions and to share feedback that will help guide future developments.”
This year’s AGM – held on on Wednesday, November 26 – was said to be particularly significant, marking the first since the successful Transfer of Engagement with Bessbrook Credit Union.
The integration has strengthened the combined organisation and most notably, Bessbrook members are now receiving a dividend and interest rebate for the first time in several years, demonstrating the positive benefits of the transfer.
Newly-appointed treasurer Aidan Quinn announced on the evening that the 2025 dividend is 1.25 per cent, with an interest rebate of 25 per cent, both an increase on the previous year.
Mr Quinn further stated that as a result of “an excellent financial performance” that “£1.5 million is being returned to members and reinvested back into local shops and businesses”.
CEO Brendan Jackson said that “the strong trading results and the redistribution back to members reinforced the uniqueness of Credit Unions”.
He further stated: “Newry is dedicated to its members.
"As a member-owned financial cooperative, every success is shared.
“That’s the Newry Credit Union difference; we are for you, not for profit.”
As Newry Credit Union looks ahead to the coming year, it was said that the focus remains firmly on supporting members through the cost-of-living crisis, strengthening financial wellbeing, and continuing to invest in the local community.