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A radical new way

On Friday 27th September the Mayor of Kilkenny, Cllr. Martin Brett in conjunction with Kilkenny County Council hosted a civic reception to honour Sr. Magdalene Fogarty, pbvm as founding president of Clann Credo. Twenty three years ago a radical new concept began to percolate through Ireland’s community and voluntary sector, one that has challenged the conventional way of thinking ever since.  Like all great ideas it was deceptively simple, and worked by pressing finance into service as an agent of social justice and social transformation.

Sr. Magdalen Fogarty and the Presentation Order were the first to grasp the potential of social finance in Ireland.  With their support, ‘Clann Credo—Community Loan Finance’ —was established in 1996, and since then other religious congregations have joined Clann Credo as social investors.  Clann Credo is now the leading provider of social finance in Ireland.

The practical impact

Over the past two decades Clann Credo has invested more than €120 million in in Community Loan Finance to more than 1,000 initiatives, covering all aspects of community life throughout the country.  In addition, it has enhanced the lives of thousands of people and communities across Ireland through projects that deliver key services e.g. childcare and elder care, or that fill obvious gaps in social infrastructure, such as community halls, sports centres and other centres that play a major part in local life.

A key focus of Clann Credo’s work is supporting and nurturing community and voluntary activity.  It recognises that in every one of these often marginalised communities there are local heroes whose only goal is to improve the lives of those around them.  These financially supported initiatives have sustained thousands of jobs and strengthened communities nationwide over the past 20 plus years.

Warmest congratulations to Sr. Magdalen on this wonderful occasion for celebration and recognition of her considerable contribution.  We  wish her continued blessings in all that she continues to do.

Notes:

The legacy of Nano Nagle as a social activist and pioneer continues to inspire practical action wherever there are Presentation people who continue to provide welcome and support wherever there is need.  See  HERE

See also this link to Community Stories of support from Clann Credo’s website  HERE

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