Credit Union bids to attract farmers with loan facilities

FARMERS in the greater North Galway area – who may have ‘ran into brick walls’ when seeking credit or loans from the banks – have been asked to pencil in a farmer support campaign being ran by a local credit union.

St. Jarlath’s Credit Union in Tuam have organised the Farmer Support Scheme from Monday next, February 29 to Saturday, March 12, for farmers who may find themselves under financial pressure this Spring.

It has been a difficult Winter for many farmers due to the rain and storms of recent months and some may now find it difficult to make ends meet as they face into a ‘new year’ in the fields.

Many farmers may not be aware of the lending capacity of the Credit Union movement, and the aim of this latest campaign is to get farmers ‘to drop in’ to their local branch and have a chat about their needs.

Agricultural loans can be secured from the Credit Unions for a diverse range of farming purposes including sheds, the upgrading of farm machinery, stock loans, land reclamation and land purchase.

St. Jarlath’s Credit Union CEO, Michael Culkeen, said that they wanted to send out a clear message to ‘the ordinary farmers of the county’ that they [Credit Union] were ‘open, ready and willing’ to do business with them in terms of loans and credit arrangements.

“We would feel very strongly as the local credit union that we are uniquely positioned to help the farming community in whatever project they are embarking on.

“What we can offer is a personalised, face-to-face service and I would also like to emphasise that many of our staff have very close links the local rural communities,” Michael Culkeen told the Farming Tribune.

He said that in the past, people might have associated the Credit Union movement more with personal and car loans than farm/business loans but this certainly wasn’t the case anymore.

For more, read this week’s Connacht Tribune.