THE Irish League of Credit Unions (ILCU) has offered its support for Cultivate to become the national agricultural finance brand for the Irish credit union sector.
Announcing ILCU’s support, its chair, Helene McManus, said: “ILCU supports Cultivate as the agricultural brand of Irish credit unions. Most credit unions that offer Cultivate loans are members of ILCU. We encourage any ILCU-affiliated credit union wishing to enter the agricultural lending market to do so under the Cultivate brand.
Finbarr O’Shea, director of Bantry Credit Union, is a director of Cultivate and chairman of its national marketing group. Welcoming the announcement, he said, “Cultivate is delighted to have received support from ILCU. This support is a huge boost for us as we seek to fulfill our ambition to make Cultivate available to every farmer nationwide.
Cultivate provides unsecured loans up to €75,000 for any farming purpose. Cultivate loans are available at five offices of two credit unions in West Cork: Access Credit Union offices in Bandon, Schull and Skibbereen; and Bantry Credit Union offices in Bantry and Castletownbere. Nationwide, Cultivate is available at more than 120 credit union offices and the number of outlets continues to grow.
Finbarr continued: “As the largest representative body for Irish credit unions, the ILCU is a key player and voice in the credit union industry. Cultivate’s success has been built on a collaborative platform through engagement with all major agriculture stakeholders including farmer representative bodies, agricultural advisers, training organizations, agribusinesses and traders, agricultural accountants, markets, etc.
“We are delighted that ILCU is supporting this collaborative platform. And we look forward to working with ILCU and all other stakeholders as together we improve and expand the Cultivate loan offering.