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History

Willowfield Credit Union opened to the public in December 1967 and has served its members well for 49 years.

At the end of its first year it had Assets of £10k. Today it has net assets of £3.45 million, a measure of the success of the Credit Union and of the high esteem in which t is held by the 1800 members.

In March 2014 Willowfield Credit Union moved to new premises at 37-41 Cregagh Road where we pride ourselves on being a community focused organisation meeting many of the financial needs of our members.

  • Regulation & Affiliations – Willowfield Credit Union is regulated by the Financial Conduct Authority and is affiliated to the Irish League of Credit Unions (the League). It is one of 32 credit unions in Chapter 3 of the League.
  • Values – Credit Union transcends colour, class and creed and provides each one of us with the opportunity of fulfilling our obligations to our fellow man.
  • Mission – The Mission of Willowfield Credit Union is to provide a friendly, courteous, confidential and complete financial service to our Members, for the overall benefit of our Members and of our Community.
  • Vision – That the symbolic hands of the Credit Union hold our Members and our Community is a supportive and kindly embrace.
  • IT System – Willowfield Credit Union uses the Pallas Member Bookkeeping System.
  • Common Bond – those who live or work within the Bond.

ILCU Foundation

The Irish League of Credit Unions International Development Foundation limited was established in 1980. Irish Credit Unions felt a responsibility to share the success of the Irish movement with those in less developed countries. For over 30 years the foundation has been providing financial and technical support to strengthen credit unions and their representative bodies in low-income and developing countries.

The Foundation is a niche non-governmental organisation (NGO) owned and funded by contribution from credit unions throughout the island of Ireland. The specialist focus of the work is of significant-scale, credit union focused, with technical assistance. The technical assistance provided is crucial to the further development of the credit union movement in the partner countries and is highly valued by them as they can learn from the vast experience of the Irish credit Union movement, which is regarded as one of the most successful in the world.

The Foundation is encouraging empowerment and education, promoting opportunities for poor people and in essence helping people to help themselves. Capacity building and training are very strong components of the support provided. In developing countries, supporting local empowerment by educating, training and upskilling people is a key factor in addressing poverty and improving the quality of life for poor and marginalised communities. As an NGO, the Foundation, strives to adhere to aid effectiveness and promote best practice within our work.

The Foundation helps promote the ethos, value and principles of the Irish credit union movement in our partner countries and helps those less fortunate to improve their livelihoods and ultimately reduce poverty. In 2011 the Foundation provided financial and technical support for the following:

  • Strengthen credit union movements in six countries through long term partnerships.
  • Six small projects aimed at reducing poverty in communities in developing countries.
  • The placement of an Irish intern in Mongolia to work as a Credit Union Development Officer.
  • Two Irish credit union managers who participated in the Ghana Coaching Programme.
  • Humanitarian causes in Haiti and the Horn of Africa.

In 2011 contributions towards the work of the foundation amounted to just over €630,000. Approximately 300 ILCU affiliated credit unions contributed to the Foundations work. With this money in 2011, the Foundation has supported: Over 800 credit unions with over 540,000 members and their families through its long term partnerships. Over 5,500 direct beneficiaries through support for small projects.

Willowfield Credit Union are delighted to be part of the 300 ILCU affiliated Credit Unions .

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