29-05-2025
Patrick Coughlan named Cork Person of the Month for helping people in financial difficulty
A man whose work has helped thousands of people in financial difficulty for over 40 years has been named Cork Person of the Month for May.
In the early 1990s, Patrick Coughlan helped set up a free service in the Cork city credit union where he worked – a service that proved hugely successful and ultimately evolved into the nationwide Money and Budgeting Advice Service (MABS).
Cork Person of the Year awards organiser Manus O'Callaghan said Mr Coughlan has dedicated his career to helping those most in need.
'His work has provided a vital safety net for thousands of individuals and families facing financial hardship,' he said.
'His passion, vision and tireless advocacy has made a lasting difference, and his contributions to financial well-being in Cork and beyond will not be forgotten.'
Mr Coughlan's journey with MABS began in the early 1990s, when he was working in the Lough Credit Union on the southside of Cork City. He and his colleague, Brendan Roche, decided to develop a structured approach to help members who were overwhelmed by financial difficulties.
Recognising the need for a sustainable solution, they established an income and expenditure system that prioritised essential living expenses while ensuring regular repayments to creditors.
Their approach to helping people in financial distress was strengthened by partnerships they helped forge with Cork City Council, Cork County Council, utility companies and financial institutions, who all agreed to facilitate the introduction of manageable repayment plans for those in financial crisis.
As the impact of their MABS initiative grew, support was secured from the Combat Poverty Agency and the then-Department of Social Welfare, which allowed the fledgling service to expand its reach. What began as a local project soon evolved into a nationwide initiative and network.
Mr Coughlan, who retired as manager and financial controller of The Lough Credit Union in 2015, is still the acting chair of South Munster MABS and he continues to play a key role in guiding the organisation.
In 2024, the MABS national helpline handled 23,525 calls while South Munster MABS assisted 1,908 new clients, demonstrating the continued need for the service.
Mr Coughlan said:
MABS was born out of a real need to support individuals and families trapped in financial distress.
'Seeing the service grow from a small initiative at The Lough Credit Union to a nationwide support system has been incredibly rewarding.
'At the heart of MABS is the belief that everyone deserves financial stability, and I am proud to play a part in that journey.'
Mr Coughlan's name now goes forward alongside the other monthly winners for possible selection as Cork Person of the Year, who will be announced at the annual gala awards lunch next January.
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