Irish social finance organisation, ClannCredo, has provided over €215 million in finance to community and voluntary groups, sports clubs, climate action initiatives, social enterprises as well as social housing in Ireland since 1996.
As the largest social finance provider in Ireland, Clann Credo has a current loan book of over €50.3 million, providing much needed capital to community and voluntary groups around the country. Working like a social bank, Clann Credo has supported more than 1,500 organisations in the community, providing lending that uniquely places the focus on the social impact potential of a project.
Clann Credo Chief Executive Mary Lawlor said, “With a current loan book of €50.3 million, Clann Credo is strategically positioned to build on our customer base and respond effectively to evolving community needs and ambition. The feedback from the 250 delegates at our conference today signals an increase in community ambition throughout Ireland which gives us confidence to scale our work and reach more communities who share our mission for positive social change.”
According to the latest Clann Credo Impact Report, 65% of Clann Credo’s social finance lending in 2023 reached communities with a below-average score on the Pobal Deprivation Index. Specifically, Clann Credo demonstrated an increase in their lending to communities classified as disadvantaged (11%) or extremely disadvantaged (4%) during that year. This level of lending in underserved communities demonstrates the need for social finance in Ireland, now and into the future.
Clann Credo finance supports sporting clubs (38.9%), community playgrounds, community centres and facilities in the community (16.7%) as well as disability projects (9.9%), enterprise centres (8.4%) as well as social sheltered housing (6.6%) among other projects. A specific objective of the Clann Credo finance also support environmental and climate-action initiatives in communities.
Over 250 community and voluntary organisations from around Ireland attended the Clann Credo Annual Conference in Croke Park this week. The organisation welcomes enquiries from all relevant groups and organisations.
Picture: Clann Credo CEO & Chair, Minister Jack Chambers and Henry Healy (Moneygall) and Mike Geary (Ballyporeen)
