Reporter's Notebook: Everyone in Ireland has a CU Story
DUBLIN, Ireland -- Never have I met so many people who want to talk about their credit union. I am not talking about the attendees at the World Council of Credit Unions' 2006 World Credit Union Conference in Dublin Ireland July 27-30th. The only thing a person has to say is to mention the magic words "credit union" and someone in Ireland is ready to tell you their story.
On the plane I was seated between two Dubliners, going home after their holiday. They asked me if I was going on vacation and when I said I was attending a credit union conference, one said, "The credit union saved my life." He then launched into a tale about how as a much younger man he had begun to save money with his credit union, but because of family problems, he had to leave home. He borrowed 2,000 Irish pounds (It was long before Euros) and went to America where he worked for a year. When he came back with enough savings to support himself through university, family tensions had ebbed. Unbeknownst to him, when he went to pay off the loan, his father already had, and he immediately paid his father with interest and a bit more to take his "mum out to a good dinner."