03 December 2022
Colm McCauley elected President of Derry Credit Union
At the Derry Credit Union’s Organisation Meeting which took place November 8th, Colm McCauley was elected President by his fellow directors. Taking up his new role, the new president paid tribute to outgoing president Sean Hegarty for his leadership, direction and professionalism throughout his three-year tenure.
Colm McCauley was born and raised in Aranmore Avenue, Creggan Estate, and was one of ten children. He witnessed first-hand severe poverty, large-scale unemployment, the impact of social injustices, and a lack of access to affordable credit facilities within the community in which he lived - the very circumstances which prompted the establishment of Derry Credit Union.
Colm attended Holy Child Infant School and Long Tower Primary School before attending St Columb’s College. He attained an honors degree at University and is a qualified accountant with the Chartered Institute of Public Finance and Accountancy. Now retired following a long career in Public Sector Finance, he was co-opted onto the Board of Derry Credit Union in 2016.
Over the next period he filled the roles of Derry Credit Union’s Treasurer for the past four years, chair of the credit union’s Finance and Nomination Committees, and membership of the credit union’s Audit and Executive Committees.
Colm holds the view that Derry Credit Union remains a vital asset for the local community, providing members with affordable loan products. In addition, Derry Credit union provides insurance benefits such as savings cover, loan cover and death benefit cover, and is also a place where savings play an important part supporting everyday life.
Colm is an ardent supporter of the credit union’s application to seek approval to provide mortgages in order to remain competitive with other financial institutions and explains that such new services can be undertaken because Derry Credit Union is in a very stable financial position to move forward strategically.
In the role of President, he is looking forward to continuing the excellent achievements to date.
Colm paid credit to the credit union’s dedicated workforce and members and he acknowledged the continuing tremendous support for Derry Credit Union from our local community.
