Almost €1.6m lent to support community ambition in Mayo
Community Finance Ireland, which is celebrating 25 years, has lent almost €1.6m across Mayo to support community organisations, sports clubs and social enterprises. A total of €134m has been lent to date to over 925 community organisations across the island of Ireland by Community Finance Ireland (CFI).
Over the past quarter-century, these loans have supported, and continue to support, grassroots projects that enrich lives, promote wellbeing and create opportunities for people of all ages.
To mark its 25th anniversary, CFI welcomed clients, partners, funders and community leaders to a special 25th anniversary event at Leinster House, hosted by Deputy Erin McGreehan. The event featured guest speakers including Minister of State at the Department of Finance, Robert Troy, and community organisations and clients who shared inspiring stories of how access to social finance has made a difference in their locality.
Through its longstanding relationship with the Social Finance Foundation (SFF) in the Republic of Ireland, and the Department for Communities in Northern Ireland, CFI helps deliver flexible, impact-driven finance to organisations creating positive social change. CFI's latest social return on investment analysis found that every €1 invested by the organisation generates €4.63 in social value.
The organisation has supported projects in every county across the island that have enhanced quality of life, improved community facilities and strengthened local resilience. CFI is committed to supporting organisations that may struggle to access traditional sources of finance but play a vital role in sustaining vibrant communities.
Since its first loan in 2001 as the Ulster Community Investment Trust (UCIT), Community Finance Ireland has evolved from a Northern Ireland-focused lender into the only all-island social finance provider, serving community, voluntary and social enterprise organisations.
Following its expansion into the Republic of Ireland in 2007, CFI continued to broaden its reach and rebranded as Community Finance Ireland in 2020, reflecting its commitment to supporting communities across the entire island.
Commenting on this milestone, Dónal Traynor, CEO of Community Finance Ireland, said: "This important milestone for Community Finance Ireland is a moment to pause and reflect on the scale of the impact that the organisation has been able to achieve for communities, like those in County Mayo, over the past quarter century. What sets us apart is that we are fundamentally built on relationships, not transactions. That means that everything we do is centred on the people who matter most, our clients and their communities. Every day across our island, transformative work is taking place that's driven purely by passion and dedication to local community.
“It's happening in our sports clubs, community centres, charities and social enterprises - places where people give their time freely to strengthen their localities and create change that will benefit all members of their communities. We are proud to contribute to many of these grassroots success stories by providing social finance, an often-overlooked enabler.
“I would like to thank our partners and funders, without whom this impact would simply not be possible and to every person and organisation who has been a part of our story for the past twenty-five years. We look forward to continuing to support local communities where it’s needed most to enhance facilities, create opportunities and enrich lives.”
For more information on Community Finance Ireland and to find out if a loan could benefit your community organisation, visit here.