Almost €1.6m in community funding delivered to Mayo by Community Finance Ireland
The organisation has provided €134 million in social finance to more than 925 community organisations throughout Ireland since its inception in 2001, with a focus on supporting grassroots projects that improve local facilities and promote wellbeing.
Community organisations, sports clubs and social enterprises across Mayo have benefited from almost €1.6 million in loans from Community Finance Ireland (CFI), as the organisation marks 25 years of supporting communities across the island.
Since issuing its first loan in 2001, CFI has provided €134 million in social finance to more than 925 community organisations throughout Ireland.
The milestone was marked at a special anniversary event in Leinster House, hosted by Deputy Erin McGreehan TD and attended by clients, community leaders, funders and representatives from the social finance sector.
Over the past 25 years, CFI has supported grassroots projects aimed at improving local facilities, promoting wellbeing and creating opportunities for people of all ages.
The organisation provides loans to community, voluntary and social enterprise groups which may find it difficult to secure funding through traditional sources, helping them turn local ambitions into practical projects.
CFI's latest Social Return on Investment analysis found that every €1 invested by the organisation generates €4.63 in social value.
Established as the Ulster Community Investment Trust (UCIT), the organisation initially focused on Northern Ireland before expanding into the Republic of Ireland in 2007. It adopted the name Community Finance Ireland in 2020, reflecting its work across the island.
Speaking to mark the anniversary, CFI chief executive Dónal Traynor said the milestone provided an opportunity to reflect on the impact the organisation has made in communities, including those in Mayo.
He said the organisation's work was built on relationships rather than transactions, with a focus on supporting the people and groups working to strengthen their local areas.
Mr Traynor highlighted the contribution made by volunteers and community organisations through sports clubs, community centres, charities and social enterprises, saying social finance was an important enabler of their work.
He also thanked the organisation's partners, funders and clients for their contribution over the past 25 years, adding that CFI looked forward to continuing to support communities in improving facilities, creating opportunities and enriching lives.
Minister of State at the Department of Finance Robert Troy TD said social finance played an important role in supporting the sporting clubs, community centres and local facilities that people rely on.
He said many projects were driven by volunteers and community groups with the ambition to improve their local areas, with social finance helping turn those plans into reality.
Mr Troy also highlighted the partnership between the Social Finance Foundation and Community Finance Ireland, which helps community and voluntary organisations access funding that might otherwise be unavailable.
Deputy Erin McGreehan TD, who hosted the anniversary event, congratulated CFI on its work across all 32 counties.
She said the ambition for the next 25 years should be to enable more communities to develop their ideas, help organisations grow sustainably and give more people opportunities to participate in community life.
Social Finance Foundation chief executive Garrett O'Donohoe also congratulated the organisation, highlighting its role in directing finance towards projects that enhance lives, create opportunities and strengthen local resilience.