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
,,, S, , CCJoHNThis website is designed to keep our members informed about what is happening in their Credit Union.
Board of Directors: Mary T Molloy, Chairman, John Devaney, Vice-Chair, Joe Fahy, Secretary, Anthony Lee Vice-Secretary, Patrick J. McDonald, Kevin McDonagh, Gerry Thompson, Alec Dempsey, David Crean, Anne Murphy and Fintan Donnelly.
Board Oversight Committee: Michael O’Beirne Chair, John Donohoe Secretary and Gerry Finn, committee member.
Our Friendly Staff: Bernie Moran CEO, Alan Conboy Assistant Manager, Catherine Nugent, Karyn O’Riordan, Lynda Lane, Patrick Meleady, Mary Flynn, Lorna Tully, Serena McNamara, Paula Satchwell, Tara Biesty and Sinéad Fannon.
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.