Cork SVP has no cash for first time in 40 years

St Vincent de Paul in Cork has no money in the bank for the first time in more than 40 years as its multi-million ‘rainy day’ fund has dried up.

In 2008, the Cork charity had a cash reserve of at least €4m but over the past seven years this fund was called upon repeatedly as the charity tried to cope with the “unprecedented rise in calls for help”.

Despite the country’s improved economic figures, St Vincent de Paul in Cork expects it will send out three times more Christmas Day hampers this year than last.