The Irish League of Credit Unions International Development Foundation has received new funding to support credit unions in developing countries.
A charitable organisation, the league is owned and funded by contributions from credit unions across the island of Ireland. It was formally registered in 1989 with the aim to fight poverty and financial exclusion.
Larne Credit Union from Northern Ireland has donated £12,020 to the league, which will be used to continue to support credit unions abroad.
The league provides training on governance, financial management and accounting, and helps its members improve their understanding of their finances through financial literacy training.
Martin Wilson, chair of Larne Credit Union, said: “A key objective for the ILCU Foundation is to help members recognise that their credit union is supporting the development of other credit unions in low income countries.
“It is only with the backing of our members here at Larne Credit Union that we can continue to play our part in supporting the ILCU Foundation and ensuring that the many fledgling credit unions that it works with will be able to thrive and serve their members’ need.”
Dating back to 1971, the credit union provides loans, savings, insurance and other services to people in the town of Larne, 20 miles north of Belfast.
Alan Moore, general manager, ILCU Foundation, added: “Co-operation amongst co-operatives is vital for the continued success of credit unions movements around the globe; it is encapsulated within the operating principles here in Larne Credit Union.”
