Portadown Credit Union celebrates 60th anniversary with four of its original members
and live on Freeview channel 276
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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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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Hide AdIn 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.
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.