MABS co-founder named Cork Person of the Month

Someone who has helped thousands of people struggling with debt nationwide has been named the May Cork Person of the Month.

Patrick Coughlan, who retired as manager and financial controller of The Lough Credit Union in 2015, has been honoured in recognition of his role in the establishment of MABS (Money Advice and Budgeting Service).

Mr Coughlan has dedicated over four decades to improving financial literacy and assisting those facing financial difficulties across Munster.

His journey with MABS began in the early 1990s, when he and his colleague Brendan Roche developed a structured approach to help people overwhelmed by debt.

Recognising the need for a sustainable solution, the two men established an income and expenditure system that prioritised essential living expenses while ensuring regular repayments to creditors.

That approach was further strengthened by partnerships with Cork City Council, Cork County Council, utility companies and financial institutions, facilitating the introduction of manageable repayment plans for people who found themselves in financial crisis.

As the impact of the initiative grew, support was secured from the Combat Poverty Agency and the then-Department of Social Welfare, allowing MABS to expand its reach.

What began as a local project soon evolved into a nationwide initiative and network.

Mr Coughlan is the acting chair of South Munster MABS and continues to play a key role in guiding the organisation.

In 2024 alone, MABS’s 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 the service was born out of a 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,” he said.

“At the heart of MABS is the belief that everyone deserves financial stability, and I am proud to play a part in that journey.” Awards organiser Manus O’Callaghan said Mr Coughlan had dedicated his career to helping those most in need.

“His work in establishing Cork MABS has provided a vital safety net for thousands of individuals and families facing financial hardship.

“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 O’Callaghan said.

Mr Coughlan’s name will now go forward alongside the other monthly winners for possible selection as Cork Person of the Year at the annual gala awards lunch in January of next year.