COPE Galway and St Columba’s Credit Union (SCCU) have launched a €1.4 million Community Impact Loan Fund to support capital projects addressing homelessness, domestic abuse, and social isolation in Galway. The fund aims to provide the final layer of financing that many vital projects need to move forward quickly and sustainably, complementing existing government funding.
Galway faces an urgent need for fit-for-purpose housing and support infrastructure, and while government schemes cover much of the development costs, projects can stall without access to flexible, low-interest finance. The new fund, seeded with €1.4 million from SCCU over 10 years, is a revolving fund: repayments will be reinvested into future projects, creating long-term sustainability while delivering immediate social benefits to vulnerable community members.
Minister of State Jerry Buttimer TD welcomed the initiative as an example of strong community partnerships that direct local resources to where they can have the greatest impact. He highlighted the potential of this collaborative model to strengthen communities across Ireland.
Colm Cleary, Chairman of SCCU, emphasized that the partnership channels local savings back into the community, creating tangible benefits for those most in need and offering a replicable model for other credit unions nationwide. Michael Smyth, Chief Executive of COPE Galway, added that the fund will allow the organization to respond quickly to urgent needs while developing sustainable solutions across its homelessness, domestic abuse, and senior support services.
The Community Impact Loan Fund enables COPE Galway to advance critical projects that might otherwise face delays, supporting local jobs, sustainable services, and stronger infrastructure. By harnessing community finance for direct social benefit, the initiative creates a model that can be adopted in other communities across Ireland, turning local savings into lasting social impact.
