Former president of the Irish Farmers’ Association (IFA), Joe Healy, has been appointed chair of Collaborative Finance, which is best known for its Cultivate farm loan.

Healy was announced as the company’s new non-executive chair at Collaborative Finance CLG’s extraordinary general meeting.

The finance company is best known for its Cultivate farm loan offering which is available in over 110 Credit Union locations across the country.

With considerable board-level experience with organisations including the FBD plc, Bord Bia and Copa Cogeca, he brings a great deal of experience to the company.

Commenting on his new appointment, Healy said:

“I’m delighted to take on my new role as chair on the Collaborative Finance board.

“I’m looking forward to helping the Cultivate brand grow, as farmers look for alternative ways to finance the development of their businesses.

“As a farmer myself, I know the importance of locally provided financial services, especially with the closure of rural bank branches all around the country,” the former IFA president said.

He said he had been “very impressed” with the people involved in Collaborative Finance and is excited to work with them to help the organisation reach its potential and makes a real impact for families and communities across the country.