KILLARNEY Credit Union this week launched a community loan product targeted at community, not-for-profit organisations and charities with loan amounts of up to €100,000 over 20 years on offer.
Projects from all sectors, including sports groups, arts, youth activities, social
enterprises and community groups, will be considered and groups, clubs and societies are all eligible to open savings accounts in the credit union which can be used for fundraising and saving activities.
Killarney Credit Union Chief Executive, Mark Murphy remarked: “We have launched this product to coincide with recent grant aid agencies supports to community groups in our locality. A lot of groups may struggle to fundraise locally and through the provision of community finance, we can assist projects come to fruition”.
The new product offers both long-term community finance over 20 years or short-term bridging finance of six months or less which could help in grant aid draw down.
The credit union is already supporting one charity operating in Killarney and it is working with another club in Kenmare to develop new facilities to generate additional income.
“While we are cognisant that there are other social finance partners available to community groups, we would like them to consider a local lender such as the credit union as we are embedded in the local community and committed to support projects that support the socio-economic well-being of people living and working in South Kerry,” Mr Murphy stated.
Further information is available from lending team officers, Elma Culloty or Emer Guihan, on 064-6631344 or [email protected]
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