Clann Credo, example of good practice in OECD report

Irish stakeholder of RaiSE, Clann Credo, has been chosen as an example of good practice for social development in Europe

Ireland’s leading Community Loan Finance provider, Clann Credo, has been identified as one of the best examples of good practice for social development in Europe, according to a recent joint report from the Organisation for Economic Co-Operation and Development (OECD) and the European Commission.

“Ireland has made significant progress in addressing the financial exclusion of community organisations and social enterprises”, through the provision of Community Loan Finance from Clann Credo, according to the report ‘Boosting Social Enterprise Development: Good Practice Compendium’.

Attending the event, Seamus McCormack of WestBIC, and Partner Member of the RaiSE Interreg Project, congratulated Clann Credo on this well-deserved recognition, and acknowledged their tireless work over the years in assisting community organisations and initiatives to get off the ground.

The OECD-European Commission report was presented to Mr Michael Ring T.D., Minister for Rural and Community Development, by Clann Credo CEO, Paul O’Sullivan, at a meeting in Louisburgh GAA Club, Co Mayo, one of more than 900 organisations that have benefited nationally from community loan finance provision.

Clann Credo has provided Community Loan Finance of almost €7.5 million to 45 groups in Mayo alone, for a range of community development projects and as bridging loan facilities pending receipt of LEADER funding.

Pictured from left to right: Minister Michael Ring, T.D; Seamus McCormack, WestBIC and Irish Partner in the RaiSE Project; and Tracey Hannon, Clann Credo.