The first two Credit Unions (financial institutions that are member-owned cooperatives and operating on the principle of people helping people)  were formed under Herlihy's influence in 1958, and the Credit Union League of Ireland recognized her as having made the greatest individual contribution to the Irish credit union movement, in 1963.
A credit union, a type of financial institution, is a member-owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services. The first two Irish credit unions were formed under Herlihy's influence in 1958 and she promoted credit unions throughout Ireland. In 1963 the board of the Credit Union League of Ireland recognized her as having made the greatest individual contribution to the Irish credit union movement. 
