People First Credit Union gets green light to help Laois and Kildare businesses survive Covid-19
Credit union approved to give loans of up to €1 million
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Business in Laois and Kildare will be able to borrow up to €1 million from a local credit union thanks under a new plan which will see the People First Credit Union permitted to lend up under the Government’s COVID-19 Credit Guarantee Scheme (CCGS).
People First Credit Union, which is a member of Metamo, the joint venture between 16 Credit Unions and Fexco, says it will now be able to provide Government-backed loans directly to local Small and Medium Enterprises (SMEs), whose survival is critical to the vibrancy and economic wellbeing of the Laois, Kildare areas in which it operates.
Updated / Friday, 15 Jan 2021
10:53
Joe O Toole, Chair of the Metamo Credit Union Group; Anne King, Board Member of Metamo and Denis McCarthy, Fexco CEO
Seven of the country s largest credit unions, all members of Metamo, have become the first credit unions to offer loans to SMEs under the Government s Covid-19 Credit Guarantee Scheme (CCGS).
Metamo is the joint venture between credit unions and Fexco and was set up in July 2019.
The seven credit unions joining the CCGS have a combined membership of about 250,000 members and include Cara Credit Union, Mallow Credit Union, First Choice Credit Union, People First Credit Union, St Canice s Credit Union, Limerick & District Credit Union, and Synergy Credit Union.
Metamo, a joint venture between 16 of Ireland’s biggest credit unions and Fexco, has appointed Alan Kelly as its new chief executive.
He replaces Neil Hosty who has taken up the role of chief operating officer at Kerry-headquartered financial services group Fexco.
Mr Kelly has spent 35 years working for AIB in a range of retail, commercial and corporate banking roles. He holds an MSc in Business Administration from Trinity College.
Commenting on his appointment as Metamo chief executive, Mr Kelly said: “Credit unions play a unique role in delivering financial services into the heart of local communities, and our credit unions have come together under the Metamo umbrella to improve the range and quality of services they can offer to members.