Speech for President Mary McAleese On the opening of Rathvilly Parish Credit Union’s New Offices
Speech for President Mary McAleese On the occasion of the opening of Rathvilly Parish Credit Union’s New Offices
It gives me great pleasure to be here in Rathvilly to perform the official opening of these new offices of Rathvilly Parish Credit Union and I extend my thanks to the Board for their invitation to me.
The Credit Union Movement in this country is based on the principles of self-help and mutual co-operation which is echoed in this parish by its efforts, indeed its successful efforts, in its entries into the tidy towns competitions in which you have been consistently successful. I have only to look around me here today to see what a beautiful village this is.
These principles of co-operation, which have a long tradition in Ireland, have contributed to the growth also of the credit union movement. Rathvilly is just one of more than 400 registered credit unions. It is almost 30 years old and so it is one that has well and truly come of age. This credit union, like other credit unions, could not have realised this success without the commitment and dedication of countless voluntary workers and its many members who have clearly displayed a true spirit of mutual co-operation, self-help and concern for the economic and social well-being of their members and their own communities.
It is largely due to these efforts to work for mutual purposes, the equitable sharing of the benefits and the fundamental credit union philosophy of putting members’ needs first, that credit unions are so popular in present times. The fact that credit unions are continuing to prosper in a commercial competitive market place is a measure of their success. Credit Unions are continually evolving in order to keep pace with modern developments by providing a range of new services as sophisticated as those on offer commercially and must be congratulated for embracing these changes, while at the same time preserving the philosophy and spirit of the credit union movement.
There are many challenges ahead with the introduction of the Euro and the technological impact of the approaching millennium. I am sure that the movement will rise to meet all the demands made of it and from the initiative shown by it in providing this fine new premises Rathvilly Parish Credit Union will not be found wanting.
Like all sectors, successful credit unions continue the learning process not only by keeping up to date with developments in the movement, but in ensuring that they operate to the highest standards. In that context, I would like to commend the League of Credit Unions and their role in monitoring, identifying and devising training programmes for all sections of the movement - from the voluntary worker to board member - and in encouraging full participation in training programmes to ensure the maintenance of these high standards. I know that the League makes a significant contribution to the expansion of services offered by credit unions and, needless to remark, any new developments today almost always include additional or updated computerisation. I am delighted to learn that the League is at an advanced stage in planning a new system to improve the range of services on offer to all its members.
The Credit Union movement in Ireland is large and well organised - with over a million members, and assets exceeding £1bn. It is to the great credit of the movement, particularly the Irish League of Credit Unions, that it has organised so efficiently over the years. As a result of their efforts, people of all ages have an efficient way to organise their finances, can grow into a culture of saving and have prudent financial advice available. There is always work to be done in fostering the spirit of thrift among our youth and we must continue to recognise the importance of involving our young people in our credit unions ensuring that the valuable lessons learned are not lost and that expertise is passed on to generations to come. It is a wonderful opportunity for the development of young people who, through their involvement in the credit union movement, can gain valuable work experience, social skills and interaction with the community, not to mention education in the wise use of credit.
To-day is a celebration, and I would like to congratulate the Board of Rathvilly Parish Credit Union and all its members, on this fine premises, which is a fitting testament to the commitment, hard work and expertise of all involved in this Credit Union. I wish you continued success in the future.