Susan Gallagher (Clann Credo), Gregg Allen (CRES), Minister Donohoe and Colin McCrea, (Clann Credo)

“Clann Credo has built up a wealth of experience and expertise with specially tailored social finance services that support community projects across Ireland,” Minister for Finance Paschal Donohoe.

 A milestone of €100 million investment in Ireland’s community and voluntary sector was reached on July 5th by Clann Credo – Community Loan Finance. The occasion was marked with a cheque presentation by Mr Paschal Donohoe, TD, Minister for Finance and Public Expenditure and Reform to Tipperary-based based CRES (Community Renewable Energy Supply – www.cres.ie). This loan brings Clann Credo’s total investment to date to €100,020,000.

Since pioneering the concept of social finance in Ireland in 1996, Clann Credo has been at the forefront of developing innovative investment models for local community development.

Unlike traditional lenders, it takes account of the impact that a project will have on the community, and, to date, it has invested in over 900 community, charity and social enterprise groups.

Speaking at the cheque presentation, Clann Credo CEO, Paul O’Sullivan said “Clann Credo operates on the principles of equality, inclusivity and empowerment. Communities are best placed to identify their own needs. CRES in Tipperary is an excellent example of such a model, both increasing renewable energy production and assisting local communities by keeping the energy spend within their local area.”

Susan Gallagher (Clann Credo) and Gregg Allen (CRES)

The €100 million milestone celebration comes amid a rapid rise in demand for Community Loan Finance, and Clann Credo also announced at the event that it is on track to approve a further €50 million in lending over the next two years.

For more information about Clann Credo – Community Loan Finance and the €100 million social investment milestone, visit www.clanncredo.ie