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Newry Credit Union hosted an open day yesterday, 24 June, to celebrate their 60th Anniversary.
Established in June 1963 the Credit Union was launched to help people deal with their finances at a time when pawn shops and money lenders were common. The Credit Union began at premises on Merchants Quay with £21 in savings on the first night. To give an idea of how things have changed over the years, when Newry Credit Union was formed in 1963 the unemployment rate in Newry was over 60% while it now stands at 3%.
They moved to their current location in Hill Street, Newry in 2000. Sixty years on the Credit Union has 19,353 members with over £15m of loans dispensed in the 2021-2022 year and they continue to be at the very heart of the community.
