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Social Responsibility

Ted O'Sullivan,  discussing risk management and pearl ratios at a training day in Ethiopia

Ted O’Sullivan, discussing risk management and pearl ratios at a training day in Ethiopia

Donegal Town Credit Union Ltd – Our International Social Responsibility

For many years our credit union and our members’ have helped some of the poorest people in the world to have access to their own credit union. Through our support of the ILCU Foundation we are making a difference the world over.

The history of the ILCU Foundation:

Delegates receiving training, provided by the ILCU Foundation in Sierra Leone.

Delegates receiving training, provided by the ILCU Foundation in Sierra Leone.

The ILCU Foundation was founded in 1980 and its mission is “to alleviate poverty in developing countries by supporting credit unions, their representative bodies and other co-operative type organisations as a means for socio-economic development through the provision of financial and technical assistance”.

The ILCU Foundation was set up out of a responsibility to share the success of the Irish credit union movement with similar movements in developing and low-income countries.

What type of work does the ILCU Foundation undertake?

Hassanatu Turay at the wicket with Tawopaneh cashier Mamusu Bangura. (Sierre Leone)

Hassanatu Turay at the wicket with Tawopaneh cashier Mamusu Bangura. (Sierre Leone)

The ILCU Foundation provides training to staff, directors and volunteers in credit unions in developing countries to ensure that the credit union is run in the best possible manner, so that members’ can avail of their services.

Why our credit union & our members’ support the ILCU Foundation:

In Ireland, we know the positive effects our credit union has made in our community and communities across the country. The work of ILCU Foundation in the developing world is hugely important as it supports credit unions to provide credit and saving facilities. Credit unions in low-income and developing countries can serve poor and marginalised people in society, who are normally overlooked by banks.

The ILCU Foundation supports the credit union systems in The Gambia, Ethiopia, Albania, Ghana, Sierra Leone, Liberia and Belize.

What does our credit unions partnership with the ILCU Foundation achieve?

  • We’re allowing the ILCU Foundation to support over 500 credit unions, which allows over 450,000 people to have somewhere safe to save and obtain loans from;
  • We’re helping them promote the principles of co-operation and the credit union ethos in developing countries;
  • We’re assisting the ILCU Foundation to aid economic development of rural and urban communities in developing countries;
  • And ultimately, we’re sharing the success of the Irish credit union movement!
Staff and Board of Bayconfields Savings and Credit Union, Liberia.

Staff and Board of Bayconfields Savings and Credit Union, Liberia.

Our support of the ILCU Foundation will ensure its future and it will help to ensure that the many fledgling credit unions will continue to support communities in need.

If you have any queries with regard to the ILCU Foundation please visit www.ilcufoundation.ie