Portadown Credit Union celebrates 60th anniversary with four of its original members

By Carmel Robinson
Published 27th Apr 2023, 10:54 BST
Updated 27th Apr 2023, 13:42 BST
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A group of 16 local men, including a couple of doctors, who were aware of the serious poverty affecting people in Portadown, decided to set up a local credit union 60 years ago.

These men grew up in the 1930s/40s and lived through the Great Depression and were determined to make the world a better place. They had heard of the benefits of Credit Unions and understood that if a financial co-operative could be formed then working people could pool their resources for the benefit of all.

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Attending the 60th anniversary of Portadown Credit Union are four of its original members, Denis McCourt, Tom Hyde, Joseph McConville and Aidan Hagan. These were the four remaining original members who set up the credit union in Portadown in 1963 and they were presented with a gift.Attending the 60th anniversary of Portadown Credit Union are four of its original members, Denis McCourt, Tom Hyde, Joseph McConville and Aidan Hagan. These were the four remaining original members who set up the credit union in Portadown in 1963 and they were presented with a gift.
Attending the 60th anniversary of Portadown Credit Union are four of its original members, Denis McCourt, Tom Hyde, Joseph McConville and Aidan Hagan. These were the four remaining original members who set up the credit union in Portadown in 1963 and they were presented with a gift.

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Jack McCabe and Thomas Lee were asked to examine this possibility and they spent 6–9-months investigating how credit unions worked; with Thomas recalling one meeting continuing onto 6am.

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In 1962 they were joined by Peter Mulligan, Aidan McCormack, John Goodwin, Harry McNamee, Aiden Cullen, Dr. G McAnallan, James Hendron, Gerry McNally, Dr. L Byrne, Jim McCullagh, James Greenwood, Edward Gillen, Paddy McAnallan and Vincent Meehan to form a working party to get this venture off the ground.

The inaugural meeting of Portadown Credit Union took place on 4th April 1963. The opening share capital was £1.10.00 (£1.50) which was made up of 2/6 (12.5 pence) paid by each of the 12 founder members.

Attending the 60th anniversary of Portadown Credit Union are four of its original members, Denis McCourt, Tom Hyde, Joseph McConville and Aidan Hagan who set up the credit union in Portadown in 1963. Pictured with them are Siobhan Moffit Assistant Manager, Paula Larkin, Manager and Bernadette McGinnell, President.Attending the 60th anniversary of Portadown Credit Union are four of its original members, Denis McCourt, Tom Hyde, Joseph McConville and Aidan Hagan who set up the credit union in Portadown in 1963. Pictured with them are Siobhan Moffit Assistant Manager, Paula Larkin, Manager and Bernadette McGinnell, President.
Attending the 60th anniversary of Portadown Credit Union are four of its original members, Denis McCourt, Tom Hyde, Joseph McConville and Aidan Hagan who set up the credit union in Portadown in 1963. Pictured with them are Siobhan Moffit Assistant Manager, Paula Larkin, Manager and Bernadette McGinnell, President.

From this humble beginning, Portadown Credit Union has now over 12,000 members and has successfully provided a source of low-cost credit and other financial benefits and services for its members. Through the loyalty and dedication of its membership, Portadown Credit Union has flourished to become the tremendous success that it is today.

Go to www.creditunion.ie to find out more about the Irish League of Credit Unions, the body it is affiliated to.

Related topics:Portadown