Dundalk Credit Union has announced that Chief Executive Billy Doyle will retire at the end of the year after 18 years leading the organisation.
He will step down following the Annual General Meeting in December.
Billy has led Dundalk Credit Union through a period of significant change and growth. During his time as Chief Executive, the credit union has expanded into communities across Louth and Monaghan and grown to become one of Ireland’s largest community credit unions.
It has established a brand position and reputation nationally and internationally as a leading advocate of a broadened and re-imagined purpose for credit unions that sees co-creating a new local model of community and environmental sustainability sitting side by side with the co-operative financial self-help ethos of the traditional credit union framework.
While much has changed at Dundalk Credit Union over those 18 years – including the size of the credit union, its geographical spread and membership, its evolving community platform and the range of financial services available to members – the credit union remains firmly rooted in the communities it serves, with personal service and a strong focus on meeting the needs of ordinary people continuing to be central to how it operates.
Paying tribute to Billy, Dundalk Credit Union chairperson, Jim Wallace said: “Billy told the board of his plans some time ago, which has allowed us to plan properly for the future. He has led this credit union through eighteen years of real change in our sector and leaves it in the strongest position in its history.
“Just as important as what Billy has achieved, is the way he has gone about it. He has always been generous with his time and his expertise, supportive of the people around him and focused on doing what is right for our members, our staff and the various Boards he has worked with. On behalf of the Board, our staff, our members and the wider Northeast community, I want to thank Billy sincerely for everything he has given to Dundalk Credit Union.”
Commenting on his upcoming retirement Billy Doyle said: “It has been a privilege. I came here in 2008, and I’ve never had a day where I wondered whether the job mattered. That’s down to the staff, who are as good as you’ll find anywhere, to the boards who supported me, and above all to our members. I’ll miss it, but it’s the right time for me to start a new chapter, and the right time for the credit union to start one too.”
The Board has appointed Stephen Fealy as the credit union’s next Chief Executive. Stephen has over 15 years senior management experience across the credit union sector including being CFO of Dundalk Credit Union since 2018.
A native of Dundalk, Stephen holds a range of academic qualifications including an MBA and the Chartered Certified Accountancy designation. He will take up the role following the credit union’s AGM in December.
Commenting on the appointment, Jim said: “Choosing a new Chief Executive is the most important and consequential decision a Board has to make. Stephen knows this Credit Union, understands our culture, our members and our communities, and has played an important role in our development over recent years. S
“tephen is highly qualified and experienced, and the Board are certain that he is the right person to lead the Credit Union into its next chapter.”
Stephen said he was delighted to have the opportunity to lead the Credit Union: “I’ve had the opportunity to work closely with Billy and have seen first-hand what he has built here. I’m looking forward to building on that work with our Board and our staff and, most importantly, continuing to deliver for our members and the wider Northeast community.
“We are a bigger Credit Union today than we were, and our services keep growing, but what we are here to do hasn’t changed. We are here to serve the people of Dundalk, Carrickmacross and the wider Northeast and to make a real impact in the communities we are part of.”
Billy will continue as Chief Executive until his retirement in December, working with Stephen and the Board over the coming months to ensure a smooth handover.
“I have had the privilege of working closely with Stephen over many years and I am absolutely delighted that he will be leading the credit union into its next phase of development. I know he has the judgement, the ability and the values to lead the credit union into its next chapter,” Billy added.