REPORT OF THE CREDIT COMMITTEE
On behalf of the Credit Committee, we are delighted to welcome you to the 2025 Annual General Meeting. Throughout the year our focus has remained firmly on serving our members with transparency, fairness, and a genuine commitment to help. We understand that each application represents real needs, real plans, and real lives — and we strive to support every member with a “can-do” approach grounded in the long-standing ethos of the credit union movement. Members can access our lending services in whichever way suits them best. Whether you prefer to call into us for a face-to-face conversation, speak to us by phone, or apply online through our website or mobile app, we are committed to making the process as smooth as possible. Our dedicated lending department is always open to members looking for guidance, reassurance, or simply someone to talk through their options. Branch opening hours may vary in the locations we serve, our digital and phone services complement these hours. We remain digital when you want us, and human when you need us. You are always welcome to drop in to open a savings or current account, to discuss borrowing needs or avail of our other products and services. We continue to streamline our lending processes in response to member feedback and evolving expectations. Fast-track approval is now available for loans up to €20,000 for established borrowers, requiring only proof of income and a clear credit report. Our long-held approach remains unchanged: every application is assessed on its own merits, carefully and respectfully, with the intention of saying “yes” until we have to say “no”. Some applications require more in-depth consideration and fall outside the authority of our lending officers. These are reviewed weekly by the Credit Committee, whose members bring extensive expertise and a strong sense of responsibility to their role, and the membership. Our goal is always to support members while ensuring that lending is sound, sustainable, and fully aligned with regulatory requirements. Where a member disagrees with a decision, an appeals process is available — fairness and transparency remain central to everything we do. The regulatory landscape continues to evolve, with increasing expectations from the Central Bank. We work diligently to ensure full compliance while preserving the human touch and member-first ethos that define our Credit Union. The year 2025 saw significant investment in our Credit Department, including upskilling across the team and the introduction of new underwriting roles designed to meet the needs of a growing and increasingly digital membership. As part of these enhancements, the maximum unsecured personal loan available to a member has increased from €75,000 to €100,000 The Credit Committee extends its sincere thanks to our Head of Credit and lending team, whose dedication, professionalism, and genuine care for our members underpin the success of our lending operations. We also acknowledge the support of the Board of Directors, Board Oversight Committee, the Credit Exceptions Committee, Management, and all staff of Altura Credit Union. Most importantly, we thank you — our members. By choosing to borrow from your Credit Union and by honouring your repayments, you help strengthen our community and ensure that we can continue offering fair, accessible, people-focused lending for years to come.
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