Black Raven Credit Union operates as one entity but provides a service to the staff of three separate authorities. This requires three separate systems of administration, each covering all aspects of the Credit Union’s work. These separate administrations operate under the overall control of the Board of Directors.
Black Raven Credit Union has been in existence since 1980 and continues to go from strength to strength. The membership now enjoy the benefits of a well run and financially sound Credit Union.
The following is an extract from the minutes of the first Annual General Meeting.
A Study Group was set up in October 1979 to study the law and practice of Credit Unions and to gauge the need and support for a Credit Union in the Council. Those members of the study group decided to establish a Savings Group to encourage the habit of thrift. The support for the Savings Group exceeding all expectations with in excess of 250 members joining and it became very clear that the need and necessary support for a Credit Union was firmly established. The Black Raven Credit Union Ltd., was registered on the 10th April 1980. The organisation meeting was held on the 14th May where the first Board of Directors, Supervisory Committee and Auditor were elected. At the first Board meeting on the 20th of May the Officers of the Board were elected.
Officers for 1980 were as follows:
Chairman: Joe Kennedy
Vice Chairman: Louis Monks
Treasurer: Sean Carey
Assistant Treasurer: Billy Leonard
Secretary: T.P Sheehan
Other Directors: Catherine Banks, Brian Clarke, Brendan Clinch, Billy Coman, Dara Monaghan and Dan O’Sullivan.
The Supervisory Committee were as follows:
Michael Keyes, Declan Keegan, Jim Halpin
The first AGM covered a period from the 1st of April to the 30th September 1980, during the period 18 loans to the value of £5380 were granted. The first loan was was approved by the Board of Directors on the 8th of July. Home Improvements and Holidays were the most popular reasons to borrow. Credit Union business was conducted at Rutland Place.
We wish to remind members that the Credit Union is not just a loan society. Credit Unions are in fact part of the wider co-operative movement, based in the main on the idea of self help and mutual trust – people helping people with no motive other than service.