Today CFI’s impact was evidenced as Nora Keogh Client Relationship Manager for the Munster region, provided support to local social enterprise Limerick Gateway to Education.
Nora met with the brilliant charity, based in Limerick City, to hear first-hand how they are working to address social and economic barriers to education.
Our thanks also to the Limerick Leader for also recognising the merits of this organisation and featuring the organisation’s story in the local business section of the paper and online on theilovelimerick.ie website.
Community Finance Ireland delivers social finance solutions that support local communities and drive social impact through sports, community projects, faith-based groups, and social enterprises.
Community Finance Ireland was established in 1995, and now supports a diverse portfolio of clients across the island of Ireland from Bantry to Belfast, and from Dublin to Dingle.
Currently, Community Finance Ireland is the only Irish and UK member of FEBEA, the European Federation of Ethical and Alternative Banks.
Pictured above: Nora Keogh (CFI Client Relationship Manager Munster) with Limerick Gateway to Education’s Andy Fogerty (Accountant), Paul Goodwin (Assistant Manager) and Suzanne Roche (CEO , Founder).
At Community Finance Ireland we take a hands-on approach when it comes to working with our clients. We put people first. When our clients call with a query, they hear a familiar voice at the end of the phone. They know the face who is at the other end of an email. Our Change-Makers are on the ground, supporting communities, meeting clients and making an impact in their regions.
We speak finance but we hear people – So, we thought you might like to get to know them a bit better.
Covering mid-south Leinster, our next Change-Maker is Barry Symes, Client Executive from Waterford. Working with clients like Red Cross Glen of Imaal Mountain Rescueand Sensational Kids. Barry is passionate about growing Community Finance Ireland’s brand and impact in Leinster.
Just two of Barry’s clients Sensational Kids (left), Irish Red Cross Glen of Imaal Mountain Rescue (Right)
What did your journey to Community Finance Ireland look like?
I joined Community Finance Ireland in 2017. Prior to that, I spent 17 years working for a private financial institution where I rose to Senior Managerial level. I am the founder and proprietor of SME Debt Solutions. In terms of my education, I completed a diploma in Financial Services from Waterford Institute of Technology and hold a certificate in Agriculture from Teagasc. I am also an Associate Member of the Institute of Banks.
What does your current client base look like? Are there sectors you expect to see or want to see growth in?
I have a diverse range of clients with investments in most sectors. With mid-south Leinster being a largely rural area, Sport & Community make up a large portion of my clients. Community Finance Ireland has only been active in this area for the last four years so these two are where I see the most growth happening. However, as awareness grows of what we have to offer local communities I’d hope to see that growth in lots of other areas.
Do you have a client that, in your opinion, best demonstrates the impact Community Finance Ireland can have?
Thankfully, there are multiple of examples of where CFI’s investment has been a key element for positive impact. A recent one is Kiltegan GAA Club, who collaborated with their community, camogie club and stakeholders like the Local Authority, Local Development Company and CFI to bring about a transformational sporting & community project for their village. This has resulted in the village being nominated for a prestigious Pride of Place Award. A most deserving nomination.
How do you switch off from work? What are your hobbies and interests?
A young family keeps one busy, as does my wide interest in sports, politics, motors, reading and other such interests.
Now you know a little more about us, we’d like to hear about you.
If you and your team have a dream that could make a difference in your community, we’re here to listen. Whether you want to change something by solving a problem or creating an opportunity, we want to hear what you have to say.
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At Community Finance Ireland we take a hands-on approach when it comes to working with our clients. We put people first. When our clients call with a query, they hear a familiar voice at the end of the phone. They know the face who is at the other end of an email. Our Change-Makers are on the ground, supporting communities, meeting clients and making an impact in their regions.
We speak finance but we hear people – So, we thought you might like to get to know them a bit better.
Our next Change-Maker is Anne Graham, Client Executive from Drumfries, Co.Donegal. A new face in the Community Finance Ireland team, Anne is taking advantage of the easing of restrictions to get out and about in Connaught to meet with clients likeSensational Kids, Ballinasloe Town Hall Theatreand Alone.
Some of Anne’s clients from L to R: Sensational Kids, Ballinasloe Town Hall Theatre and Alone.
What did your journey to Community Finance Ireland look like?
I have worked in Financial Services throughout my whole career and wore many hats such as a Loan & Mortgage Advisor and Business Executive, these roles provided me with me valuable credit assessment skills which I bring to my new role at Community Finance Ireland.
Throughout my career, I gained invaluable and highly educational, practical experience but I felt I still needed a formal qualification to complement the skills I garnered over the years. In 2017, I decided to undertake an MBA in Business Administration, through University of Ulster, which I completed in May 2020. I thoroughly enjoyed this educational experience and believe the timing of this course was ideal as it allowed me to reflect, value and share my professional, practical and voluntary experience.
Away from work, I have been a volunteer at our local community centre – Sliabh Sneacht Centre. I began working with our committee as a treasurer and fundraiser and I now hold the position of chairperson. This voluntary experience was instrumental in steering my latest career move to CFI as I fully understand the challenges, difficulties and rewarding experience that comes with working in a community setting and that sense of shared achievement when your dream becomes a reality. I can’t wait to help and support ‘the dreamers’ and I believe I am ideally positioned to support ‘the change makers’ as I have walked their path before.
What does your current client base look like? Are there sectors you expect to see or want to see growth in?
My current client base is broad and diverse and includes everything from tourism and sport, to housing associations and forestry groups. Out here in the west we have rich cultural heritage and strong community organisations so I work with a range of community centres, museums, arts centres, drama groups, church and faith-based groups. One day I’m talking to an angling group, the next is a counselling service, the next it’s a community playgroup.
As a result of Covid-19, I think we’ll see more organisations within those sectors growing and trying to meet the changing demands in their local communities. Covid-19 has also shown us the benefits of physical activity and outdoor spaces. Staycations will provide growth opportunities in tourism and outdoor pursuits. The pandemic has shown that we don’t necessarily need to be tied to a fixed office space and as a result, growth of remote working hubs has been fast tracked. Never has the concept of wellbeing and mental health ever been amplified more and its importance to every facet of our society, the need for connectedness and community has been magnified and immeasurable.
Do you have a client that, in your opinion, best demonstrates the impact Community Finance Ireland can have?
To me, there are a number of clients that really demonstrate the impact Community Finance Ireland can have.
Tourmakeady GAAClub in Mayo are exemplars in what can be achieved in a rural sports Club. It is much more than a sports club it is the community centre of this locality.
IRD Kiltimaghin Mayo who support directly and indirectly Enterprise, Tourism, Housing, Arts, any other community group that needs support.
How do you switch off from work? What are your hobbies and interests?
I switch off by spending time with family and friends. I’m kept busy during the week with my son and daughter’s sporting activities (football and GAA). Most nights there is training or match to attend. At the weekends I try to squeeze in a bit of jogging and sea swimming with friends and walking with family. I also enjoy cooking and trying out new recipes when time allows, and have recently joined a ladies’ book club so I’m looking forward to reading more.
Now you know a little more about us, we’d like to hear about you.
If you and your team have a dream that could make a difference in your community, we’re here to listen. Whether you want to change something by solving a problem or creating an opportunity, we want to hear what you have to say.
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Tinahely Community Sports Hall, Arklow Gerladine’s Ballymoney GAA Club and Hillside Evangelical Church are just some of the projects that have benefited from Community Finance Ireland’s €30 million investment in communities between 2016 and 2019.
The extent of their investment in communities across Ireland was detailed in the first all-island impact report launched last month. At the launch, Dónal Traynor, Associate Director of Community Finance Ireland spoke about the importance of access to social finance as communities recover from Covid-19.
“With the fallout from the pandemic, we anticipate a reduction in grant funding to the community sector generally, so- in the coming years- social finance will play an increasingly vital role in supporting grassroots community organisations and social enterprises. At the same time, Covid-19 has starkly shown the importance of community solidarity, ‘social capital’ and sustainability within communities.”
Dónal Traynor, Associate Director of Community Finance Ireland
As Ireland’s and the UK’s fastest-growing social finance provider, the organisation works with groups that drive social impact, including sports clubs, social housing organisations, community projects, faith-based groups and social enterprises.
Mr Traynor said:
“We can provide loans ranging from €30,000 up to €500,000 and our finance products are specifically tailored for the community sector. We have waived arrangement fees to make loans as accessible and cost-effective as possible, we have a quick turnaround time for lending decisions, and- given the organisations we lend to are typically run by volunteers- we do not ask for personal guarantees. There has been a default rate of just 0.75% on our loans since 2008, which is low by any standard and particularly when you consider that many of our loans are made available on an unsecured basis. This is in no small part due to the strong relationship which we have developed with communities over time.”
Dónal Traynor, Associate Director of Community Finance Ireland
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A makeover for the annual ‘Willie Clancy Festival’ in Clare, an upgrade for Ballinasloe Town Hall Theatre, and new equipment for the Dublin Cliffhangers Climbing Club in Finglas are just some of the projects that have benefited from Community Finance Ireland’s €30 million investment in communities between 2016 and 2019.
As Ireland’s and the UK’s fastest-growing social finance provider, the organisation works with groups that drive social impact, including sports clubs, social housing organisations, community projects, faith-based groups, and social enterprises.
The extent of their investment in communities across Ireland was detailed in the first all-island impact report launched today (02.07.2020). Since 2016, Community Finance Ireland has loaned €8.6m to clients in Leinster, €3.5m to clients in Munster, €1.8m to clients in Connacht, and €16.3m to clients in Ulster.
Dónal Traynor, Associate Director of Community Finance Ireland, said:
“We can provide loans ranging from €30,000 up to €500,000, and our finance products are specifically tailored for the community sector. We have waived arrangement fees to make loans as accessible and cost-effective as possible, we have a quick turnaround time for lending decisions, and – given the organisations we lend to are typically run by volunteers – we do not ask for personal guarantees.
There has been a default rate of just 0.75% on our loans since 2008, which is low by any standard and particularly when you consider that many of our loans are made available on an unsecured basis. This is in no small part due to the strong relationship which we have developed with communities over time.”
Donal Traynor, Associate Director Community Finance Ireland
Panel Discussion Following the launch of their all island Impact Report, Community Finance Ireland hosted an online panel discussion on sustaining communities across the island beyond Covid-19. The panel was chaired by broadcaster and journalist Dil Wickremasinghe. Dil was joined by Tipperary hurler Noel McGrath, CEO of ARC Healthy Centre Julie Irvine, as well as Associate Directors of Community Finance Ireland Dónal Traynor and Phelim Sharvin.
Mr Traynor said:
“Access to social finance will be more important than ever before as communities recover from Covid-19. With the fallout from the pandemic, we anticipate a reduction in grant funding to the community sector generally, so – in the coming years – social finance will play an increasingly vital role in supporting grassroots community organisations and social enterprises.
At the same time, Covid-19 has starkly shown the importance of community solidarity, ‘social capital’ and sustainability within communities.”
Donal Traynor, Associate Director Community Finance Ireland
Official Rebrand Community Finance Ireland was established in 2007 as part of an expansion into the Republic of Ireland by the Ulster Community Investment Trust (UCIT) Group. UCIT was established in Belfast in 1995 in response to decreasing grant support from government and the difficulties experienced by community organisations in accessing commercial loan facilities.
Under a rebranding initiative announced today (02.07.2020), the social finance group will be known as Community Finance Ireland in both Northern Ireland and the Republic of Ireland. The organisation unveiled a new logo, website, client videos and a new podcast series as part of the rebrand.
Community Finance Ireland Chief Executive Harry McDaid said:
“While the organisation’s trading name is changing in Northern Ireland, our collective purpose remains the same – to support people changing their communities for the better across the island. The response to Covid-19 has highlighted a public desire for greater collaboration and cooperation between Northern Ireland and the Republic of Ireland. This first all-island annual report and our brand reflects a renewed focus for the organisation operating on an all-island basis.”
Harry McDaid, CEO Community Finance Ireland
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A leading social finance provider has recorded its highest ever level of funding for the community, voluntary and social enterprise sector in Northern Ireland, a report launched today has revealed.
The annual social impact report from Community Finance Ireland (formerly UCIT) reported loans for community organisations in Ulster to the value of £14.2m from 2016-2019.
The all-island report, a first for Community Finance Ireland, revealed that a total of £26m had been loaned across Ireland in the last four years, with more than half of all customers (54%) based in Ulster.
As Ireland’s fastest-growing social finance provider, the organisation works with groups that drive social impact, including sports clubs, social housing organisations, community projects, faith-based groups and social enterprises. Phelim Sharvin, Associate Director, Community Finance Ireland said:
“We can provide loans ranging from £10,000 up to £500,000 but an average loan request is typically £100,000. In our 20-year history, first as UCIT and now as Community Finance Ireland, we have helped more than 500 organisations across Northern Ireland, spanning the arts and culture, hospitality, faith and sports sectors. We have seen first-hand the force for good behind these organisations and the positive change they make to the communities or end users they serve. We’re only too glad to support these extraordinary change-makers in their ambitions to enable change in our society.”
Phelim Sharvin, Associate Director Community Finance Ireland
The Community Finance Ireland report has been published to coincide with a rebranding initiative which will see the social finance provider transition to be known as Community Finance Ireland in both Northern Ireland and the Republic of Ireland. The organisation unveiled a new logo, website, client videos and a podcast as part of the rebrand.
Community Finance Ireland Chief Executive Harry McDaid said:
“While the organisation’s trading name is changing in Northern Ireland, our collective purpose remains the same – to support people changing their communities for the better across the island. The response to Covid-19 has highlighted a public desire for greater collaboration and cooperation between Northern Ireland and the Republic of Ireland. This first all-island annual report and our brand reflects a renewed focus for the organisation operating on an all-island basis and signifies a new era for the organisation.”
Harry McDaid, CEO Community Finance Ireland
Ulster Community Finance Ltd (another group company) has since 2013, managed two Northern Ireland Small Business Loan Funds on behalf of Invest Northern Ireland with the latest contract awarded in 2018. The loan level is up to £100,000, which means the new Fund has the potential to lend over £9 million to local SMEs, helping them to optimise their potential through investment. To date, approximately £10m has been disbursed to SMEs in Northern Ireland.
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Community Finance Ireland, the fastest-growing social finance provider across Ireland and the UK, has welcomed the announcement today by the Social Finance Foundation of new funding initiatives targeted at community organisations and social enterprises.
The Social Finance Foundation (SFF) is an independent organisation established by government in 2007. It provides loan funding to social organisations through lending partners including Community Finance Ireland.
Today, SFF announced that:
Facilitated by Banking and Payments Federation Ireland, the Irish banks (AIB/EBS, Bank of Ireland, permanent tsb and Ulster Bank) will make available an additional €44 million in low-cost funding to SFF over the period 2021 to 2025; and
The European Investment Fund has agreed to provide loan guarantees totalling €25 million to support new lending by the Foundation.
Access to capital “at a time when it is really needed” Welcoming the announcement, Dónal Traynor, Associate Director of Community Finance Ireland, said:
“These measures confirm access to capital for the community and social enterprise market for at least another five years, at a time when it is really needed.
“With the fallout from the Covid-19 pandemic, we anticipate a reduction in grant funding to the community sector generally, so – in the coming years – social finance will play an increasingly vital role in supporting community organisations and social enterprises. At the same time, Covid-19 has starkly shown the importance of community solidarity, ‘social capital’ and sustainability within communities. The SFF measures announced today will help us continue our support to grassroots communities groups and, in turn, will help groups provide essential services in their local areas.
“We have been proud partners of SFF since our accreditation with them as a Social Lending Organisation in 2008. Right across the island of Ireland, Community Finance Ireland works with groups that drive social impact, including sports clubs, social housing organisations, community projects, faith-based groups, and social enterprises.
“We can provide loans ranging from €30,000 to €500,000, and our finance products are specifically tailored for the community sector. We have waived arrangement fees to make loans as accessible and cost-effective as possible, we have a quick turnaround time for lending decisions, and – given the organisations we lend to are typically run by volunteers – we do not ask for personal guarantees.
“Since the start of 2020, Community Finance Ireland has already approved loans of €3,900,000, supporting community organisations to acquire new premises and equipment, restructure current debt, and bridge financial gaps caused by delayed grants or other postponed income. The new SFF initiatives announced today will ensure we can continue this important work well into future years.”
Donal Traynor, Associate Director of Community Finance Ireland
Credibility of social finance sector Mr. Traynor said the SFF initiatives – and the support for them from industry groups – demonstrate the credibility of the social finance sector, and will open up funding opportunities to a wider range of community groups.
“This commitment from Banking and Payments Federation Ireland is a testament to the credibility of the social finance sector, and to the strong performance of our diverse loan portfolio over the past 12 years.”
He added:
“There has been a default rate of just 0.25% on our loans since 2008, which is low by any standard and particularly when you consider that the majority of our loans are made available on an unsecured basis. This is in no small part due to the strong relationship which we have developed with communities over time.
“Meanwhile, the loan guarantee from the European Investment Fund will allow Community Finance Ireland to consider those deals where, previously, social finance could not provide the funding due to the level of risk involved, and potentially where the absence of realisable security may have been the difference in making funds available.
“At a time when communities across Ireland have been sorely tested and when many community groups are feeling the strain, today’s SFF announcement is good and welcome news for our sector.”
Donal Traynor, Associate Director Community Finance Ireland
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We are doing everything possible to support community organisations in coming to terms with the unprecedented challenges now faced by all.
We want to assure you, that we are behind you and will help and support in any way we can.
To all our clients:
Your local client executive continues to be available to you.
Flexibility and Fairness is our customer experience. This remains. Our team are working remotely, in line with public policy.
Collaboration with our capital providers continues and we are working, with them, right across the island of Ireland, in the best interests of the sector.
To the Sector in general:
We have always understood the importance of collaboration.
We remain open to listening to you and your ideas.
We remain committed to supporting communities and those who need our assistance.
Please ensure you keep yourself updated with the relevant expertise.
Wash your hands. Practice Social Distancing. Stay Safe.
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The European Federation of Ethical and Alternative Banks and Financiers (FEBEA) held a board meeting for the first time on the island of Ireland. The federation, which represents 28 European social finance institutions with assets totaling €30bn, was invited by Community Finance Ireland (formerly UCIT), its only UK and Irish member.
In addition to learning more about Community Finance Ireland’s business model the FEBEA Board also visited a customer who received Community Finance Ireland (formerly UCIT) funding to support projects including the Enler Complex in Ballybeen and Bryson Street Surgery.
FEBEA Chairman, Pedro Manuel Sasia Santos, said:
“Northern Ireland has a vibrant social enterprise sector and UCIT has an exceptionally strong community focus in areas such as sport and faith-based initiatives which many of our members are interested in replicating.”
Pedro Manuel Sasia Santos, FEBEA Chairman
Pictured with Mr Santos are Wlodzimierz Grudzinski, FEBEA’s Vice Chairman and Harry McDaid, UCIT Group’s Chief Executive.
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Community Finance Ireland were awarded the coveted All-Ireland Business All-Star accreditation at an event held in Croke Park earlier this month.
Pictured is Donal Traynor Associate Director Community Finance Ireland with Kapil Khann Managing Director All Ireland Business Foundation.
This is an independently verified standard mark for indigenous businesses, based on rigorous selection criteria.
The accreditation, overseen by the prestigious All-Ireland Business Foundation, whose adjudication panel is chaired by Dr Briga Hynes of the Kemmy Business School at the University of Limerick and Kieran Ring, CEO of the Global Institute of Logistics.
Dr Hynes said the accreditation, now held by over 350 firms, is needed by the thousands of small and medium businesses, which operate to their own standards, but have nothing to measure them by. “We evaluate a company’s background, trustworthiness and performance, and we speak to customers, employees and vendors,” she said.
“We also anonymously approach the company as a customer and report back on the experience.The business goes through at least two interviews and is scored on every part of the process against set metrics.”
Dr Briga Hynes, Kemmy Business School (University of Limerick)
The All-Ireland Business Foundation is responsible for overseeing the All-Ireland Business Summit and All-Star awards, ongoing All-Star accreditation, Thought Leader awards and promoting peer dialogue among members.
Donal Traynor on receiving the award says:
“We are a people business. We are delighted that this recognition offers us a platform to reach more people and to continue to raise awareness of Community Finance Ireland. Thank you to the foundation for welcoming us to this professional group”.
Donal Traynor, Associate Director of Community Finance Ireland
For more information check out Community Finance Ireland’s profile on the Business All Star Awards website.
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