About Us

 

Roscommon Credit Union has been part of your community for over over 50 years, growing bigger and stronger each year. We have over 9,500 active members, and offer savings and loan products.

We are a community based co-operative organisation, so anyone living or working within our common bond can join the credit union.

Our common bond includes the parishes of Roscommon

  • Roscommon – Kilteevan,
  • Oran – Ballinaheglish, Clooneycolgan and Cloverhill,
  • Kilbride – Fourmilehouse and Derrane,
  • Knockcroghery – St John’s, Rahara and Taughboy,
  • Dysart – Four Roads and Ballyforan
  • plus the District Electoral Division of Rosmoylan
  • Elphin,
  • Strokestown
  • Tulsk

This website is designed to keep our members informed about what is happening in their Credit Union.

 

ABOUT CREDIT UNIONS AND OUR OFFICERS

About us…

Board of Directors: John Devaney Chairman, Mary T Molloy vice-chair, Sinead Neilan Secretary, Patrick J. McDonald, Kevin McDonagh, Gerry Thompson, Alec Dempsey, Anthony Lee, Mary Regan, Joe Fahy and Fintan Donnelly.

Board Oversight Committee: Anne Murphy, Michael O’Beirne and John Donohoe

Our Friendly Staff: Bernie Moran Manager, Alan Conboy Assistant Manager, Catherine Nugent, Karyn O’Riordan, Lynda Lane, Patrick Meleady, Mary Flynn, Lorna Tully, Serena McNamara, Paula Satchwell, Tara Biesty

 

What is a credit union?

A financial co-operative owned and controlled by its members, for its members.

Why do credit unions exist?

To service the financial needs of their community on a not-for-profit basis and to retain members’ savings in their community for the benefit of all the members.

Who owns a credit union?

The members own the credit union.

Who can join a credit union?

Any person over the age of 16 can apply to join once he/she is within the common bond of membership.

What is the common bond?

The common bond is that factor which unites all members of a credit union. It defines the area within which the credit union can operate. In our case a member must reside or work within our common bond area. You can check whther or not you qualify by looking at our Membership Section.

Who runs a credit union?

A voluntary board of directors, elected by the members at a general meeting, runs the credit union.

What can the credit union do for you?

The credit union can help you achieve financial independence through regular savings and fair and affordable access to loans.

What does it cost to become a member?

The membership fee is €1.

What are the advantages of becoming a credit union member?

  • Ownership of the organisation which is taking care of your money.
  • Financial security
  • Fair and affordable access to loans.
  • The member as owner of the credit union
  • Everybody who saves in the credit union is an owner and has a say in its running. Each member has one vote in the running of the credit union. As a democratic financial co-operative, the credit union is controlled by its members.

Rights and responsibilities of members

As a member you have a right to say how your credit union is run. The best way to exercise this right is to attend the annual general meeting where you have one vote no matter how many or how few shares (savings) you have.

As one of the owners of the credit union you have a right to know how it is being run and how it is performing and with this right comes the responsibility to contribute to the effective and fair running of the credit union. Members are urged to attend general meetings, contribute to discussions about credit union matters and with care elect to office people who have the general good at heart. Members are also encouraged to become involved in the day-to-day running of the credit union as volunteers.

Benefits of membership

Members of credit unions enjoy many benefits associated with their membership, including: control over their own finances, encouragement and advice on a regular savings programme, loan availability at relatively low rates of interest which remain consistent even during times of economic turbulence, security of savings through the credit union’s Fidelity Bond and through the Irish League of Credit Union’s Savings Protection Scheme, loan protection and life savings insurance, under most circumstances at no direct cost to the member, the confidence that the credit union has no hidden charges, the knowledge that their own savings are being used in their own community, for provident and productive purposes.

 

CO ROSCOMMON CUs

www.coroscommoncus.ie

What is the County Roscommon Credit Unions Group?

The County Roscommon Credit Unions Group was established in early 2012 as an umbrella association for all the Credit Unions within the county. Our overall aim is to promote and facilitate co-operation amongst our participating credit unions through leveraging individual messaging power and individual spending power. By facilitating inter credit union co-operation and by leveraging other networking opportunities we hope to assist all County Roscommon Credit Unions in providing effective and efficient services to their members and potential members.

The Group currently consists of the 4 Credit Unions located within County Roscommon,

  1. Ballaghaderreen and District Credit Union Ltd
  2. Boyle Credit Union Ltd.
  3. Castlerea and District Credit Union Ltd.
  4. Roscommon Credit Union Ltd.

While each credit union will continue to operate and manage their business within the areas they currently serve (known as their “common bond”) the County Group will support these efforts by providing the public with a common point of contact for Credit Unions within the county. We will also work at county level to raise awareness of the credit union model of financial services and we will promote the benefits and advantages of Credit Union membership to which each and every person living within our county should avail.

An initial objective is to carry out generic marketing initiatives for member credit unions which will inform and educate citizens as to the excellent value and top-quality services which our credit unions provide to County Roscommon people day-in and day-out. By raising the overall profile of “Credit Union” within our county and by promoting its competitive advantages we hope to bring practical good value to people in a time of intense economic challenges.

Further specific initiatives will be launched on a phased basis as circumstances allow.

Committee

While our Committee Structure is very informal below are some of the individuals who actively assist the group. (list not exhaustive)

  • Gerry Thompson Roscommon Credit Union +353 85 1740819
  • Martin Lonergan Castlerea and District Credit Union
  • Joe Currid Boyle Credit Union
  • Billy Golden Ballaghaderreen and District Credit Union
  • Bernadette Moran Roscommon Credit Union
  • Annette Keenehan Boyle Credit Union
  • James Dooney Ballaghaderreen and District Credit Union
  • John McCormack Ballaghaderreen and District Credit Union
  • Seamus Ronane Castlerea and District Credit Union