History: Past

Lurgan Credit Union Limited held its first meeting on the 11th December 1963 at St Anthony’s Hall in the town. It was decided that there was scope in the town to create a Credit Union in order to offer a new type of financial institution in the town, one which was actually owned by its members. At this first historic meeting an ad hoc board was nominated, the structure was as opposite.

After just one year in operation, the membership had swollen from 18 to 170, with loans issued for the year equal to £3216.00. The shares lodged for the year were £3350.00.

The number of members of Lurgan Credit Union increased annually and by 1970 held shares of £55,550, issued loans of £55,300 and had 1,320 members. This increase necessitated larger premises, therefore in February 1970 we moved to new premises at 12 North Street, Lurgan. It was felt that the new premises would give added impetus to the very steady growth of the Credit Union. However it was not long before we outgrew the North Street premises due to swelling membership. By 1977 membership stood at 5,000 and share balances stood at £1,000,000.

In 1982, we had reached unprecedented levels of growth and as a result we began to search for larger premises able to cope with the increasing levels of membership and operations. So as a result 14 North Street was purchased and extensive renovation carried out, without any interruption in service. The renovations were completed by the end of 1982, providing Lurgan Credit Union with a fully operational building.

  Ad Hoc board nominated:

  • C Monaghan:- President
  • J Filbin:- Vice President
  • K Lacey:- Treasurer
  • M Mc Conville:- Assistant Treasurer
  • J D Mc Veigh:- Secretary
  • J Mc Alinden:- Assistant Secretary
  • J F Mc Evoy:- Director
  • S O’Neill:- Director
  • B Mc Corry:- Director