REPORT OF THE CREDIT CONTROL COMMITTEE
As of September 2025:
• 6.07% of borrowers were in arrears. • This equates to 676 loans out of a total number of 11,140 with 408 in early-stage arrears. During the year: • Loans and overdrafts totalling €185,470 were written off. • Prudent provisioning resulted in a net cost of €35,325 to the Income & Expenditure account. • Recoveries from previously written-off loans totalled €340,873, demonstrating our continued commitment to debt recovery.
The Committee extends its sincere thanks to:
• Roisin Monaghan, Head of Credit Control • Mary Mackey, Assistant Credit Control Manager • The entire Arrears Support Team
Their dedication, professionalism, and member-first approach have been instrumental in navigating a challenging year and supporting the financial wellbeing of our community.
I formally propose this report on behalf of the Board of Directors.
Róisín Monaghan Head of Credit Control
Credit Control Committee Chairperson: Anne Roche Secretary: Fionnuala Doyle Member: Edel Byrne
MISSION STATEMENT
“Altura Credit Union is a member owned and controlled financial services co-operative. Our mission is to meet members’ financial needs through quality service at the best value while maintaining financial stability”
43
Made with FlippingBook - Online magazine maker