Cara Credit Union Reports Satisfactory Year Ahead Of Next Month’s AGM

Posted by


CARA Credit Union will report on another satisfactory year in business at the annual general meeting at 8pm on Monday, December 9, at The Rose Hotel.

Ahead of the meeting, they have published their annual accounts and report, which shows assets now standing at over €242m.

In her report, Chairperson of Cara Credit Union, Caroline Sugrue said; “Cara Credit Union has continued to deliver on its strategic priorities during 2019. Our assets now stand at €242m with members savings growing to over €200m and Loan Book increasing to over €90m for the first time.

Continued below…


“We are delighted to report a surplus for the financial year of over €1.6m in what continues to be an unstable economic environment. There has been an overall growth of €9m in the net worth on the Balance Sheet at 30th September, 2019.”

Ms Sugrue said the board continues to challenge the financial performance of the credit union and keep a tight rein on costs and an increase in members shares of €6.9m to over €200m has remained a challenge for the management team.

As with last year, the board is proposing a dividend of 0.01% at the AGM. “We feel this is a competitive and while the same dividend rate for the past two years, we are also able to strengthen our reserves,” said Ms Sugrue.

Comments are closed.