Clonenagh, originally called Cluainadnach, is a very remote antiquity. A monastery was founded here by St. Fintan, who became its first Abbot. He was succeeded by St. Columba, who died in 548. This Abbey was destroyed in 838 by the Danes, who in 843 carried its venerable Abbot aid, who was also Abbot of Tirdaglass, into Munster where he was martyred on the 8th of July.

After being frequently plundered and destroyed by the Danes, it continued to flourish until the Cromwellian invasion of the 17th century. Clonenagh was a very important seat of learning and it is said that students came there to study from all over Europe and, indeed, perhaps further afield. There was also a famous book of Clonenagh which disappeared during the English invasion and was never found.

There are said to be a number of saints buried in Clonenagh, including St. Fintan and St. Aengus. There is the famous St. Fintan's Tree at Clonenagh, where a well sprung up in its trunk when a farmer who lived across the road refused to allow people to visit a holy well in his field. The well miraculously transferred to the tree. This tree came to be known as "The Money Tree" in later times as people hammered coins into its bark having invoked the Saints' help for some intention. It was blown down in a storm in 1994.

There is a holy well in Cromogue called St. Fintan's well. Mass is celebrated here each year. St. Fintan's Feast Day is celebrated on February 17th.

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