JOHN HUME, his proudest legacy

“of all the things I've been doing, it's the thing I'm most proud of because no movement has done more good for the people of Ireland, North and South, than the Credit Union Movement."

Those are the words of Nobel Peace Prize laureate, John Hume.

Amongst John’s many achievements and roles, from The Good Friday Agreement, to serving as an MEP, are the ones he was most proud of – being a founder of Derry Credit Union Limited , which would go on to be one the five Credit Unions that would come together in cooperation to form the Irish League of Credit Unions . Where he served as a director, like I do now, and still using the same compass, the Cooperative Principles, to guide us in the same direction.

The Irish Credit Union Movement today as represented by the Irish League of Credit Unions, has grown from those five Credit Unions into a cooperative of 244 Credit Unions providing 400 face-to-face member-to-member locations for their 3.6 million members, and security for their 20 billion plus in assets, providing over 7 billion in loans to members one by one, whole families, small businesses and communities. North and South.

Shortly after we lost John, his close friend and colleague Mark Durkan introduced me to the quote "quiet leaders for peace” .

I have recalled it so many times since then as a Credit Union Activist, and as a Director on the board of the Irish League of Credit Unions today.

We are the quiet leaders in the battle against poverty.

From the days of Friendly Societies, Diddleums, and Penny Banks, the same days John Hume was rummaging around the Bogside to get people to join their Credit Union, the Irish League of Credit Unions now leads an all-Ireland Credit Union Movement of over 3.6m members.

The size of our voice is immense, 3.6+ million of us, but you do not hear from us.

We are the financial services pillar you may not know exists, the Irish Credit Union Movement is the invisible pillar of financial services in every community and constituency in Ireland.

When AIB announced 70 of their 170 branches (7 in NI) would go cashless (a decision they took a very swift about-turn on) they never suggested the Credit Union their targeted branch shared a street with as a solution to their discommoded customers. When An Post announces another sub office closure they never offer the Credit Union over the road as a substitute for the community about to suffer the loss of their Post Office.

Yet we all operate the same tellers’ stations, banking halls and cash handling facilities; our Credit Unions may not sell stamps (yet) but they can sell you currencies to go on your holidays with, help you pay your bills and cash your cheques, lodge your winnings and transfer funds. All with the same regulatory oversight, even more so as it happens. If you need a loan, there is a qualified loan officer there to meet you. On site. You won’t be handed a leaflet to apply for a loan or a mortgage addressed to a PO Box in Dublin by any Credit Union in Ireland.

The days of operating out of the hut at the side of the Church used for selling mass cards, or the committee rooms in the local GAA club, or from your grandmother’s good room are long gone. Credit Unions are state of the art premises, owned by their members. Providing 10-years-in-a-row Best Customer experience services and governed by best-reputation award winning boards of directors elected by their own members.

With the recent legislative changes to the Credit Union Act, and the lending restrictions on Credit Unions about to be eased, all promising a measurable rise in Mortgage lending and Business lending, the Irish Credit Union Movement can no longer be the invisible pillar of regulated financial services.

Main Party leaders will no longer be able to campaign for election and get away with saying only banks provide mortgages for first time buyers.

Nor can we meekly accept our lot in the role of silent leaders in the fight against poverty in every community, common bond or constituency in Ireland. Nor should the elected representatives that enjoy being in the view of their Credit Union.

When another bank branch closes its doors, or the town’s post office shuts down, politicians weather the inevitable protests, because those decisions are out of their hands, and made from an obscure HQ somewhere by strangers, not from around here.

But if they lose their Credit Union there is nowhere for their constituents to turn to when the boiler needs fixing, the funeral needs paying for, the van needs to get back on the road, the local meals-on-wheels needs funding, the club needs a sponsor. From getting children back to school with new uniforms and bag fulls of books to getting college dues paid. The Credit Union has always been their solution.

We are the ones at the cliff edge preventing the hand-to-mouth, week-to-week financially vulnerable and the financially excluded from falling off.

Falling off into poverty, and falling into the hands of unregulated money lenders. We do not want medals or awards; we just want regulators and legislators to stop making it harder for us.

There is evidence that the social dividend released by Credit Unions in urban developed areas is 1:10 per €/￡ introduced. While in more economically and socially deprived locations, where there are more vulnerable borrowers and members that would find access to finance difficult, the social divided impact can treble to 1: 30 times per €/￡.

If members are not thriving, neither is their Credit Union, and this vulnerability saturates a community.

This is why, for the first time since John Hume sat at the table of the Irish League of Credit Unions, 65 years ago, the League has nominated a Candidate for the Seanad's Industrial & Commercial panel.

The Credit Unions candidate is Vanessa Foran.

Vanessa Foran will lead a constituency of 244 Credit Unions, owning those 400 face-to-face locations up and down the island: in capital cities, in towns and in villages, North South big and small.

A third generation Credit Union Activist, Vanessa Foran demonstrates every cooperative principle the Irish League of Credit Unions was founded on, built with and still operates under today.

The Credit Union Movement has not just rooted itself throughout the World as a movement of volunteer cooperative activists dedicated to the wellbeing of their mutual common bonds and enabling their members to thrive, but it has proved itself to be a qualified, sustainable and growing vocational movement.

As we continue to follow the footsteps of John Hume, The Irish Credit Union Movement will continue to grow through cooperation, and by nominating Vanessa Foran, the Irish League of Credit Unions expect Vanessa Foran to bring the voice of this cooperative non-political ethos to the floor of Seanad éireann and represent the interests of those 3.6 million members and their Credit Unions.

Of the *1,183 voters in this election, over 1,000 are members of a Credit Union.

These voters are the 949 Local Councillors, the 174 recently elected / re-elected TDs, and what remains of the 60 outgoing Senators.

Now is the time for cooperation from these privy voters

• to protect their Constituents from financial exclusion,
• to have their backs when the unplanned and unexpected happens and the saving together borrowing from each other ethos of their Credit Union is there for them,
• to support the communities they represent so that all its members thrive,
• and ensure their Credit Union thrives with them.

Vote the Credit Unions Candidate to enter the Seanad for them.

Foran, the Credit Unions Candidate; Industrial & Commercial panel.

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