Omagh Credit Union makes six-figure deposit in Charity Bank

Finance | Tania Mason | 12 Apr 2011

Charity Bank has received a “six-figure” deposit from Omagh Credit Union, continuing an association between the two organisations which has already seen the bank help to fund a landmark community centre built on the site of the 1998 bombing.

The bank and the credit union, a non-profit-making financial co-operative that is owned and operated by its members, declined to reveal the size of the deposit other than to say it is a “substantial sum in six figures”. The deposit will return the credit union a fair interest rate on its funds while helping Charity Bank to deliver loans to charities and community organisations.

Charity Bank has invested extensively in the Northern Irish town, mainly through its contribution to the funding of the Omagh Community House, built on the site of the 1998 bombing.

The Community House, now an architectural landmark in the town centre, has played a key role in the regeneration of the town centre and is home to a range of community and voluntary groups who provide services to the local population.

“Both Charity Bank and the Omagh Credit Union are committed to supporting local communities,” said Catherine Loughrey, manager of Omagh Credit Union. “We are delighted that our funds are helping Charity Bank to support projects as local as the Omagh Community House as well as elsewhere in the region.”

Directory: Charity Bank Ltd

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