07 February 2023
CEO Séan Murray presents 2021/22 financial accounts
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For those of you who missed our most recent Annual General Meeting, above is a video extract from that meeting featuring Comhar Linn's CEO, Séan Murray, presenting the 2021/2022 financial accounts.
The highlights from Séan's report include:
- 2021/2022 was another positive year for Comhar Linn INTO Credit Union.
- Membership grew by 1,461 - welcome new members!
- Comhar Linn's loan book grew by 25% in volume (the amount of loans issued), and increased by 10% in value to €92 million – the highest figure ever for Comhar Linn INTO Credit Union.
- 1 in every 7 ½ primary school teachers in Ireland is now borrowing from Comhar Linn.
- Comhar Linn's Loans to Asset Ratio (a key ratio) grew to 33.7%; higher than the sectoral average of 27.1%.
- 86% of our members completed transactions in the last 3 months.
- Almost 1,000 members hold Current Accounts with Comhar Linn, supported by our initiative to offer zero maintenance fees on Current Accounts for 12 months.
- 800 members now operate a Budget Account with Comhar Linn.
- In 2021/2022 Comhar Linn's surplus stood at 1.4 M despite a challenging investment environment.
- Thank you to members, staff, our Board of Management, and the INTO for continuing to support Comhar Linn.