Who We Are
The Credit Union
The Irish credit union movement was founded as a result of the efforts of three dynamic, pioneering and entrepreneurial people, namely Nora Herlihy, from Ballydesmond, a teacher based in Dublin; Sean Forde, an employee of Peter Kennedy Bakers, Dublin; and Séamus P. MacEoin, from Kilkenny, a Civil Servant working in Dublin. More...
Irish League of Credit Unions
The Irish League of Credit Unions (ILCU) was set up by a small group of credit unions in 1960 to represent & service affiliated credit unions on the island of Ireland. As of January 2016 there were 434 credit union's affiliated with the ILCU, 339 in the Republic of Ireland, and 95 in Northern Ireland. There are 25 regional areas, known as Chapters on the island of Ireland. In April 2015, Mr. Brian McCrory was elected President of the Irish League of Credit Unions. More...
How to become a Member
Joining a credit union
Joining a credit union is easy once you are within the common bond of the credit union.
What is the common bond?
The common bond is the factor which unites all the members of your credit union — it is what all members have in common. Because of the common bond, all members have the good of their credit union at heart; they know and trust each other. The common bond ensures that the savings of members are available to fellow members as loans. It also enables credit judgements to be made on character and personal record as well as on commercial risk factor.
The most usual common bonds are:
- Community bond (where all the members live, and in some cases work, in a particular locality).
- Occupational bond (where all members are in the same profession or occupation, or work for the same employer).
- Associational bond (where all the members are in the same society or association).
To find your local credit union, visit the CU Locator.
What do I need to join?
When applying for membership you will be asked for proof of ID and proof of address, for example a current passport and recent utility bill. Each share you hold in your credit union is equal to €1.27/£1stg. Depending on the rules of your credit union, to be a member there will be an entrance fee of not more than €1.27/£1stg and you will need to hold a minimum savings of between one and ten shares.