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Social Responsibility, Social Accountability, Civic Responsibility and Your Local Credit Union

29 September 2018

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 September 29, 2018
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social resp
Category: Community Support

Social Responsibility, Social Accountability, Civic Responsibility – what do these terms really mean in the context of operating a Credit Union? By definition and in broad terms, they all amount to the ethical theory that ‘individuals/businesses are accountable for actions that benefit the whole of society’.

Credit Unions adopt an approach that is familiar to most persons living in rural areas known as “Meitheal” which means a collective effort for the greater good the Community and this is our primary operating objective and ethos. This can be achieved in a range of ways i.e. implementing environmentally friendly work policies to donating money to non-profit organisations for the betterment of the community. Whilst some of the discussion subject can be a tangible item i.e. monetary donation, some other forms of social responsibility can come in the form of;

• Introducing affordable short-term loans i.e. Back to School Loan so as to discourage Moneylenders preying on vulnerable families in our community
• Agreeing to meet and work with our Members when circumstances beyond their control forces them revise their contractual agreements with us
• Providing flexible repayment terms to accommodate revenue streams for self-employed i.e. farmers in receipt of Agricultural grant aid
• Providing easy repayment and interest only loans to Third Level Students so as to allow student to pay their own way through College

Over the years, the Donegal Town Credit Union has funded upwards on €300,000 in donations to Football Clubs, St. Vincent De Paul Local Organisations, Primary & Secondary Schools, Individuals seeking to promote personal endeavours. In the financial year ending 2017, we provided over €73,886 to various bodies within our catchment area for the promotion of wellbeing within their respective communities. Donegal Town Credit Union operates from Brenter – Carnaween – Barnesmore – Ballintra and parishes in between as the crow flies, so the money that is deposited by our Members is also returned to our Members communities!

Without a doubt, the biggest marker of social responsibility in our history is the generous gesture that has been agreed by the Manager & Board of Directors of the Credit Union during their 50th Anniversary celebrations, in that they will donate €600,000 towards the building costs of a Community Library, subject to Central Bank approval. When completed, this building will host a range of services and facilities that will be geared to improve the life of all residents within our catchment area i.e. Library, Meeting Rooms, Activity centre suitable for adolescents etc.

LIST OF DONATIONS 2017

LIST OF DONATIONS 2017
NAME AMOUNT
Donegal Boxing Club 100
Private Donation (Health Fund) 100
Society of African Missions 50
Donegal Chamber – Xmas Lights 600
SVDP – Ballintra 150
SVDP – Frosses 150
SVDP – Mountcharles 150
SVDP – Clar 150
SVDP – Donegal 400
Helen Meehan – The Missions 100
The Mustard Seed 100
A Drop in the Ocean – M Neary 500
Four Masters Cycling Club 500
Abbey Vocational School 1000
Donegal Patients Comfort Fund 200
Killian School Band 200
Donegal Chamber of Commerce 358
AVS – Golf Classic 120
St Patricks Day Parade 100
Glebe National School – Playground 1580
ILCU Foundation 300
Ellie Campbell – World Irish Dancing Sponsorship 1000
South Donegal School Boys Academy 40
Four Masters Camogie Team 3000
MS Ireland Golf Classic 100
Gerard Byrne – World Dancing Competition 1000
Crumlin Golf Classic 150
Donegal Summer Festival 100
North West Simon Community 100
Naomh Brid Golf Classic 120
Donegal Alzheimers Golf Classic 120
Ballintra Races 100
Donegal Bridge Congress 100
Killymard Church Restoration 100
Donegal Rugby Club 120
Donegal Animals in Need 100
Donegal Food Festival 100
Donegal Focus Group 200
St Peters National School 3000
AVS Tasty Project 5000
Leghowney Playground 8000
Laghey School 10000
Community Project 34428
 TOTAL 73886

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