Irish credit unions, the role they play in supporting and connecting communities

Welcome back to The Connected Community podcast. We’re your hosts, Cormac Russell and Sacha Dewolfe, and today we are diving deep into the heartbeat of local copoerativism, exploring a movement that has quietly anchored Irish communities for generations.When you think of a financial institution, you might think of glass skyscrapers, sterile apps, and shareholders demanding profit. But there is another way. Today, we are talking about the power of the Credit Union—not as a place of charity, but as a fierce engine of mutual solidarity.To map out this preferred future for Ireland, we are joined by two extraordinary leaders from two very different landscapes. We have David McAuley, CEO of Donore Avenue Credit Union, nestled right in the historic, urban heart of Dublin 8: The Liberties. Donore Credit Union holds a legendary place in Irish history; founded in 1958 by a small group of visionary volunteers, it became the very first credit union to open its doors in Ireland, proving that ordinary people could successfully manage their own financial destiny when they pooled their meager resources.Representing the vibrant rural west, we also welcome David O'Donnell, CEO of Loughrea Credit Union in County Galway. Loughrea’s roots tell a different, equally vital story. It was established in 1966 in the face of biting economic poverty, at a time when small Irish farmers and local families faced a wall of closed doors and skyrocketing interest rates from mainstream banks.Together, our guests show that whether you are on a Dublin street or a Galway farm, the answer to tough times is the same. It lies in the ancient Irish tradition of the Meitheal—the ethos of neighbors pulling together to bring in the harvest when the storm rolls in. We think they are not just telling an Irish story of connected communities, but, as they say themselves, a global story of a movement for economic justice that just needs to remember its origin story and its values of community-led financial sovereignty. Grab a cup of tea and join us as we discuss history, cooperativism, and how remembering our origin stories can help us build a more connected, self-reliant tomorrow. Let’s dive in. 1.        History of Irish Credit Unions: https://www.creditunion.ie/blog/the-story-of-the-credit-union/ 2.        The story of Donore Avenue Credit Union (Dublin 8)-The First Credit Union in Ireland: https://donorecu.ie/about/the-story-of-donore-credit-union 3.        The Story of Loughrea Credit Union, Co. Galway https://naomhbreandancu.ie/about 4.        Social Return on Investment (SROI) is a principles-based framework for measuring and quantifying social, environmental, and economic value. Unlike traditional financial accounting, it assigns a monetary value to "soft" outcomes (such as improved well-being or reduced carbon footprints) to evaluate an organization's holistic impact.5.        Chats in the Flats https://dublinpeople.com/news/dublin/articles/2026/05/06/chats-in-the-flats-giving-dublins-working-class-a-voice/6.        Video footage of Chats in Flats (Dublin 8): https://www.youtube.com/@chatsintheflats 7.        Naomh Breandan (Loughrea) Credit Union, Community focused efforts: https://naomhbreandancu.ie/community Send us Fan Mail