Dungannon Credit Union was founded in 1964. Initial steps for starting the CU in Dungannon were made by Rev Francis Mac Larnon then Principal of St Patrick’s Secondary School.
He was aware that many of the people in the area were experiencing financial hardship
The first committee: Rev F.McLarnon D.D (President), Patricia McCluskey , Michael McGrath (Treasurer), Dermot Fox (Secretary), James Kelly, Patrick Fox, Harry McGuuigan, Thomas McCall, Patrick McCooey, Donagh Begley.
First Supervisors: Kathleen O’Brien, Patrick Keenan, Peter Wright
First meetings in St Patrick’s Hall; then premises rented in Anne St.
1965 Premises rented in Irish Street.
1966 Michael McGrath attended the first seminar run by the CU for directors. 5days in Gormanstown Co Meath. John Hume was National President at the time.
1970 Purchased their own premises in Irish Street for £12,000.
1994 Opened the present office in William Street.
The Credit Union has its own modern well-equipped premises in William Street with over 8,000 members, over £15.9 million in savings and over £5.9 million out in loans. Minors (under sixteen years of age) have almost £800,000 in savings.
In forty years members have borrowed and repaid over £40 million. Members have received almost £2.5 million in dividends. Members have received over £0.5 million in interest rebate (only started in 1999).
| Membership | Savings | Loans Issued | Net Assets | |
| 1964 | £1,824 | £1,776 | ||
| 1974 | £129,823 | £119,684 | £136,782 | |
| 1984 | 1302 | £506,401 | £424,050 | £568,543 |
| 1994 | 2505 | £1,993,115 | £1,904,607 | £2,499,648 |
| 2005+ | Over 6000 | Over £10 million | Over £7 million | Over £11 million |
Want to find out more?
Visit the Dungannon Credit Union website, or get in touch with their team:
Telephone – 028 8772 3729
Email – info@dungannoncu.com
Copyright British Credit Union Historical Society 2018 – All rights reserved
British Credit Union Historical Society 