Ballincollig in 1971 was a village on the main road from Cork to Killarney, today it is a town and has one of the largest population of towns in Co. Cork. It was beginning its expansion in 1971 and three new estates had started to be built, namely Inniscarra View, Rosewood & Muskerry Estate. Against this backdrop, a study group came together to set up Ballincollig Credit Union, under the umbrella of the Irish League of Credit Unions.
The first meeting of the study group took place in the Parochial Hall on Thursday 16th September 1971. Present were: Charlie Scanlon, Jack Harrington, Bernard Leach, Pat Faye, Mrs. Colbert, Redempta Moloney, Michael Kelly, Bill Horgan, Flor Kelly & Des Relihan. After a period of six months, the committees and operating procedures were put in place.
Once the study group established the Credit Union, there was a requirement for a board of directors. The board of directors developed the control, direction, and management parameters for Ballincollig Credit Union. The board was responsible for the management of the affairs, funds, and records of Ballincollig Credit Union.
The Board then elected the key positions, a chairperson, vice-chairperson, secretary, and treasurer. These roles were filled with people who had the appropriate integrity, competence, and commitment to lead Ballincollig Credit Union. This board adopted the policies and guidelines that would assist BCU to reach its potential.
After a six-month period, Ballincollig Credit Union opened a mobile office on Friday 18th February 1972. The initial opening hours were from 7 pm to 9 pm where members came to open accounts and become shareholders. At this time members had to save for 13 weeks before applying for a loan. The first loan was for IR£50 to allow a member to participate in a hairdressing course.
Ballincollig Credit Union then developed a new office in 1977, a prefab was established which resulted in attracting more members to join the credit union and increase the awareness of the credit union in the local community. BCU outgrew the prefab property and with the large volume of members, a new property was required to better serve the members.
The board then selected a site on Harrington Street and purchased the office and launched the new location in 1980. The new office assisted the credit union to increase its membership even further and the members demanded more services and support. In 1984 the board agreed to extend the opening hours of the credit union and to hire a full-time manager to enable the credit union to serve its members.
In 1988, work began on the new building, and it opened for business in June 1989, it was the ideal platform to launch Ballincollig Credit Union and establish itself as today’s key financial institution in Ballincollig. Harrington Street reopened its doors in June 2013 to reflect the current trading environment.
. Harrington Street was named after one of our founding members ‘Jack Harrington’
In 2022, Ballincollig Credit Union will be celebrating 50 years in the community here in Ballincollig.