CREDIT UNION UPDATE 2025
Commitment to Community and Excellence Altura Credit Union’s commitment to community remains steadfast. We continue to invest in local projects, schools, sports clubs, and charitable initiatives that enhance social wellbeing and strengthen the communities within our common bond area. For 2025, we are pleased to propose a dividend and loan interest rebate totalling almost €700,000, comprising a 0.15% dividend and a 7.50% loan interest rebate — effectively reducing our current standard loan rate (9.25%) to 8.56%. These returns recognise the loyalty of our membersand reflect our shared success. Altura Credit Union also continues to provide free Death Benefit, Share, and Loan Insurances for all members, subject to qualifying criteria. These important protections, delivered as part of our commitment to member care, represented an operational expense of €982,366 during the financial year. Staff development remains a key priority. In line with the updated Minimum Competency Code (MCC 2025), all relevant staff have completed enhanced training and continue to pursue the necessary qualifications and accreditations to ensure members receive the highest standards of professional advice and service. Vision for the Future Altura Credit Union’s vision is clear — to be a modern, member-focused, and future-ready financial co-operative. By embracing legislative change, advancing digital services, and pursuing strategic growth, we are ensuring that Altura remains both competitive and community-driven. Our strategic focus for the years ahead is built on three core pillars: • Growth – expanding responsible lending and membership within our common bond. • Innovation – leveraging collaboration and technology to enhance the member experience. • Sustainability – strengthening reserves, governance, and risk management to ensure long-term stability. Together, we are building a Credit Union that meets our members’ financial needs — not just today, but for generations to come. Gratitude and Acknowledgments We extend our sincere appreciation to the Board of Directors, Management, Staff, and Volunteers for their commitment, expertise, and integrity throughout the year. To our members, we offer heartfelt thanks for your continued trust and support. Your engagement drives our success and reinforces our belief in the enduring strength of community-based finance. Together, we are shaping a resilient, progressive, and member-owned financial institution — one that remains true to its co-operative values while embracing the future with confidence.
Barry Monaghan Chief Executive Officer Altura Credit Union Ltd
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