About the Credit Union in Ireland
The credit union movement was established in Ireland in 1958 when Nora Herilhy co-founded the first credit union on Donore Avenue in Dublin city. Since then people in Ireland have achieved a better way of life through participation in their credit union.
What is a Credit Union?
A credit union is a group of people who save together and lend to each other at a fair and reasonable rate of interest. Credit unions offer members the chance to have control over their own finances by making their own savings work for them. Regular savings form a common pool of money, which in turn provides many benefits for members.
What are the benefits of a Credit Union?
A credit union is an organisation of people - for people. It exists only to serve its members - not to profit from their needs. Credit unions are non-sectarian and non-political, and continue that Irish tradition of co-operative self help.
In Ireland over two and half million members have recognised the value of credit unions and have savings approaching €8 billion. There are over 15,000 active volunteers involved in the movement, and over 2,000 people are employed. It has been shown throughout history that by working together people can achieve far more through co-operation than by individual effort.
