About Us

How it started

About Us

Carrick-on-Suir has the distinction of being the oldest in Chapter Ten of the Irish League of Credit Unions. The Credit Union idea was introduced to the town by Godfrey Fitzsimons, a native of Kells, Co. Meath, who worked as a chemist in the local tannery. A public meeting was called to set up a study group and it was agreed to meet once a week to study in depth all aspects of the Credit Union movement. On March 26, 1962 the members of the study group decided to form themselves into a limited type of credit Union and to familiarise themselves with its workings before opening to the public.

It was decided to call it Carrick on Suir Credit Union. The first night’s savings amounted to £2! Monthly meetings of the committee were held in the tannery canteen. The good news of Credit Unions began to spread and membership expanded. Not only did membership grow but the idea began to spread to the neighbouring towns of Clonmel and Waterford. Expanding membership and business led to a demand for more space. An office was opened in rented premises in Chapel Street and business was carried out two nights per week. This continued until 1964 when a new office was built on Chapel Street using voluntary labour. This office was opened on June 20, 1964.

Carrick-on-Suir Credit Union went from strength to strength. This success can be measured by the need to appoint a full-time office manager Percy Torpey in 1971. The expansion of the business led to the extension of the office and this was blessed by Dr. Michael Russell, Bishop of Waterford and Lismore in March 1975. In 1987 a new computer system was installed. In 1990 the site for a new Credit Union building in Greystone Street was purchased. In 1993 the Board of Directors decided to update the computer system and the contract was awarded to Pallas Computers. On 27th October 1994, the new premises on Greystone Street were officially opened by Very Rev. Fr. Callanan P.P. Today’s membership stands at approximately 11,000 while the credit union holds assets of over €72 million.