Ballyhaunis & District Credit Union

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BALLYHAUNIS & DISTRICT CREDIT UNION was established in 1983 with a handful of members and endless possibilities.  Since then it has grown to become one of the most successful credit unions in the country.  We have built a strong, successful relationship with our members and the community over the last 28 years.  Today when you pass the premises on Clare Street you may not think of it as anything more than a fine building, but it represents the triumph of a vision and the dedication of some extraordinary “ordinary people”. 

Many years ago a wise woman stated “if the Credit Union was good enough to re-build America after the Great Depression, then it’s good enough for Ireland”.  As we look to the future aware of the financial challenges facing many people we believe being a member of the Credit Union offers hope for a brighter future. We will be a vital part of the rebuilding of Ireland after this economic depression and we welcome the opportunity to help you with advice on budgeting, saving and responsible borrowing. 

Call in anytime and talk to us.

See you at your place; see you at your Credit Union.

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What is a Credit Union?

A credit union is a financial co-operative owned and run solely for the benefit of its members.

It provides savings and loan facilities at fair and reasonable rates for the benefit of its members.

Each member (once aged 16) has an equal say in the running of the credit union regardless of the amount of money he/she may have on deposit.

It is non-sectarian, non-political and non-discriminatory.

The credit union’s ideal is to serve all who need and can use it.

Who can join?

Anyone living or working in Ballyhaunis or within approximately a ten mile radius.

What’s the difference?

Each credit union is an independent, not for profit organisation that exists solely for the benefit of its members, not stock markets.  Decisions are therefore made at local level.

As a member you are a shareholder with one vote.  Member savings provide the money to lend to other members.  Any surplus money generated is returned to members as a dividend or used to provide enhanced services to members.

  • There are no hidden fees or transaction charges.
  • Interest rates are fair and reasonable and are capped by law.
  • Loan repayments can be designed to suit your circumstances.
  • Repayments are calculated on the reducing balance so you pay less interest with each repayment.
  • You can repay a loan earlier or make additional lump sum repayments without penalty.
  • Loans are insured at no direct cost to borrowers.

 

REMEMBER you are not just a customer; you are a member of a successful financial co-operative. 

 

How do I join?

  • Call into your local credit union where we will be happy to fill out a membership form. There is a small joining fee of €1.27.
  • A minimum savings balance of €5 is required to hold membership.
  • Start saving.  You can save as little as €1.  Each euro you save is equal to one share.
  • Save regularly and watch it grow. 
  • Now you are a member, shareholder, owner and saver!