Credit Union pays Good dividend

Thursday, 13 December 2007 13:47 News - Latest

There was a good attendance at the Mullinahone Credit union‘s 30^th AGM in the Knocknagow centreThe AGM was attended by the members auditor Lionel Steen. Once again the figures presented in the financial report which has been circulated to all members, with notice of the AGM made good reading.

According to the report the current assets of Mullinahone credit union stand at 3.64 million euro. If growth in the next year which began for our credit union on October 1^st keep pace with last years growth the assets of Mullinahone credit union in time next year will be in access of 4million euro.

The growth rate last year was over 12 percent. The growth in assets is a heavy surplus allowed a dividend of 3 per cent to be declared on shares or members saving on the AGM.

During the last year the credit union advanced more than one million euro in loans to members. Last year was the first time this target was achieved it is a far cry indeed from the figures dreamt of by the credit union founder members 30 years ago.

Comments