Finance to Help Your Community Grow Clann Credo - Community Loan Finance Financing Community Ambition Martina O’Moore THANK HOSTS FOR OPPORTUNITY TO SPEAK Westmeath PPN Community Funding Workshop 25/26TH February 2019

“Graduation” at the North Wall Community Development Project Creche Our Ambition Vibrant local communities in Ireland turning their own visions into realities Drogheda Youth Development: A one-stop youth service addressing, educational, career, financial, personal safety, physical and mental health challenges. “We now have a safe drink and drug free space to meet friends, grab a bite to eat and more” “Graduation” at the North Wall Community Development Project Creche Social Finance – repayable finance with capital from social investors. Each investment or loan generates a social return or positive impact on the community. Where every community is aware of the possibilities that Community Loan Finance offers

Why & How Supporting Community Development through repayable finance Community Loan Finance - the main method Responsible Finance model

Act in the customers best interests Responsible Lending Act in the customers best interests Loan must be suitable Affordable

What is Community Loan Finance? Repayable Loan Finance Socially Minded Investors Social Outcome AND Repayment Capacity

Dedicated Loan Funds Term Loans Bridging Loans €10k to €500k Bridging & Term Match Funding Launched by Minister Mary Mitchell O’Connor Fumbally Sep 14th Heather Humphries: Nov 25th, Virginia Cavan

Projects Supported Milltownpass Community Action Group Willow Park Residents Association – Amenity Park Playgrounds across Westmeath

St James Church Kilbeggan Parish Energy Communities Tipperary Co-operative First Class Insulation

€10,000 to €500,000 All amateur sports Bridging loans Term/Matching loans

Why chose a Clann Credo loan? 8 out of 10 new customers referred by other Community Groups Loans from €10,000 to €500,000 In-depth Knowledge of Grants: specialised loan products for Sports Capital and LEADER No personal guarantees required: we recognise the contribution of community leaders and volunteers No Application Form: we start with the information on your grant application Early Repayment Without Penalty: Applies to all loans, incl. fixed rate Track Record of over 20 Years Community based organisations face many challenges, but …. Accessing loan finance need not be one of them, In fact any community based organisation that is working to enhance their community and has the ability to repay a loan can borrow from Clann Credo. Loans from €10,000 to €500,000 6 Months to 15 years In-depth Knowledge of Grants: specialised loan products for Sports Capital and LEADER No personal guarantees required: we recognise the contribution of community leaders and volunteers No Application Form: we start with the information on your grant application Regionally-based staff: single point of contact Affordable Interest Rates: Interest rates are fixed on loans of up to 5 years; for terms greater than 5 years, interest rates track the ECB Early Repayment Options: You have the option of making extra payments with no penalty fees; in fact you will save on interest. This applies to all loans, including fixed rate loans Track Record of over 20 Years: since 1996, €100,000,000 loaned to over 900 community organisations

Sectors Accessing Finance Community Facilities – Community Centres, Childcare, Family Resource, Social Housing Sports Clubs – Football Clubs, Athletics, GAA Health and Eldercare Services Youth Clubs, Scouts Groups Addiction /Rehabilitation Facilities Counselling Facilities Disability Services Arts / Heritage Groups Environmental- Recycling THE DIFFERENT SECTORS ACCESSING COMMUNITY LOAN FINANCE IN IRELAND INCLUDE,……

3 Steps Clann Credo Loan Finance

Our People REGIONALLY BASED STAFF VOLUNTARY BOARD AND COMMITTEES North & East: Jennifer Hennessy T: 01 400 2100 / 087 9556721 E: Jennifer@clanncredo.ie Midlands: Martina O’Moore T: 01 400 2100 / 086 0427372 E: martina@clanncredo.ie West/North West: Tracey Hannon T: 094 906 0679 / 087 6488390 E: Tracey@clanncredo.ie South: Susan Gallagher T: 021 462 1182 / 087 7388391 E: Susan@clanncredo.ie VOLUNTARY BOARD AND COMMITTEES BOARD Colin McCrea (Chair); Jerry Butler; Gary Brennan; Sr Magdalen Fogarty (Founder); Emer Ní Bhrádaigh; Sarah Nic Lochlainn; Sr Grace Redmond; Jim Rourke; Paul Sullivan; Mary Walsh EVALUATION COMMITTEE Gary Brennan; Sr Magdalen Fogarty; Martin Coggins, Sr Sheila Fox; Jerry Kivlehan; Jim Egan. PROJECT SUPPORT COMMITTEE Jim Rourke; Colin McCrea; Ann Clarke; Pat Leogue; Sr Grace Redmond; Ger Marshall.

President of Ireland Michael D Higgins “The key to the success of Sr Magdalen’s vision, is its profound sense of social justice” The key to the success of Sr Magdalen’s vision is its profound sense of social justice” President of Ireland, Michael D Higgins 15th September 2016 15th September 2016