Credit Union acquires landmark building in Ballina

The outgoing chairperson of Ballina Credit Union, Mark Winters, has been praised for his vision and leadership of the organisation over the past four years by the new chair, David Dwane.

“Mark has seen Ballina Credit Union grow its asset base, and introduce a range of new services for members,” said Mr Dwane. “He also steered our organisation through the difficult period around Covid, ensuring that members were able to continue to avail of our services during this difficult period for many people."

Mr Winters stepped down from his role following the annual general meeting of Ballina Credit Union last Wednesday, January 29th, during which the outgoing chair revealed to the members present that Ballina Credit Union has just purchased the former Ulster Bank building on Pearse Street, Ballina.

“This move to a larger and prominent landmark in the town centre will enable us to future-proof Ballina Credit Union for its members," said Mr Winters. "It will confirm our important position as a leading financial institution and help us to provide the growing range of services which our members have come to expect.” 

Ballina Credit Union saw its asset base grow to the highest level ever in 2024, reaching just over €110 million.

“Assets of these levels bring greater accountability, a responsibility the board of directors takes very seriously," said Mr. Winters.

“Higher assets such as ours will bring further change to the management of our credit union. We will be strengthening our management, with additional roles in finance, lending and compliance. This will add to our capacity to deliver increased services while maintaining the quality of service for our members,” he said.

A surplus of €1,214,584 was recorded in the financial year and the year also saw an increase in the number of members holding a current account. The active membership figure of Ballina Credit Union now stands at just under 18,000.

Mr Winters also welcomed the new CEO of Ballina Credit Union, Maria Padden, a native of Attymass.

Other principal officers elected by the board of Ballina Credit Union include Fionn Sweeney (Secretary) and Declan Naughton (Vice-Chair).