Tributes paid to Credit Union pioneer

THE founder of the Irish credit union movement Nora Herlihy has been honoured in her birthplace on the Cork-Kerry border.

Irish League of Credit Unions (ILCU) president Uel Adair performed a wreath-laying ceremony and plaque unveiling in her native Ballydesmond.

Celebrating its 50th anniversary in Ireland, he said development of the credit union movement was spearheaded by the Ballydesmond-born national teacher working among disadvantaged children in 1950’s Dublin.

“The Irish people owe an enormous debt to the vision and courage of Nora Herlihy in starting this unique national movement,” he said.

Nora Herlihy was moved by families suffering unemployment, malnutrition, money lending and poor housing and clothing.

“Families were being torn apart by a whole range of social and personal problems.

“Nora recognised the root of the problem as lying in the scarce availability and poor management of money and resolved to identify a system that would allow people to gain more control over their finances,” Mr Adair said.

“She saw the key as access to affordable personal finance, loans and other low-cost financial services which not only make personal and community development possible but also create essential social capital in the community.”

In 1958, a small group of dedicated individuals pooled their meagre financial resources to make essential financial services available on a non-discriminatory basis from within the community.

The legacy of Nora Herlihy, who died in 1988, and her contemporaries is seen today in the 521 Irish credit unions which have almost three million members and €15.1bn in assets.

Among the people to pay tribute to Ms Herlihy was rock star and human rights campaigner Bob Geldof, who described her “a very contemporary woman and remarkable woman before her time”.

Former SDLP leader and credit union activist John Hume said she was the founder of the most successful co-operative movement in Irish history.

Saturday’s ceremonies started with a reception hosted by Kerry mayor Tom Fleming at the office of Rathmore CU, followed by concelebrated Mass by the Bishop of Kerry, Dr Bill Murphy, in St Patrick’s Church, Ballydesmond.