Armagh Credit Union was founded in May 1962 in Handel House. By January 1963 £500 in savings had been accumulated and the first loans were issued to members.
By the end of that year due to increased membership and a greater volume of business the Credit Union moved to Market Street. The first manger was appointed in 1967 and the Credit Union purchased the old cinema in Russell Street from where it continues to operate its expanding business.
We now have over 7300 members with a share capital in excess of £15 million and loans issued in excess of £8.7 million.
Common Bond
Membership is open to those over the age of 16 years of age who reside within the common bond.
Armagh City, Tirgrave, Tullygoonigan, Knockaconey, Aughnacloy, Moneyree, Ballygason, Ballygasey, Drumily, Ardee, Turcarra, Mullaghbane, Tirnascobe, Drumbee, Beg, Edenknappagh, Calone, Killycapple, Outlack, Latmacollum, Lisnadill, Drumconwell, Ballinagalliagh, Moneyquin, Lislea, Aghavilly, Killynure, Ballyhoy, Tirealy, Tamlaght, Knockgraffy, Ballydoo, Cullentragh, Bracknagh, Ballybrocky, Lisbane, Tullysaran, Ballymartin, Tullynicholl, Cloughfin and Creaghan
Investing In the Community
Each year we undertake a number of events to try to encourage youth involvements in the Credit Union. Some of these events include the annual School Quiz and Poster competition. We also operate a School Savings Scheme and Smart Kids Savings Club.
Death Benefit Insurance available
For a premium of £19.47 per year, which is automatically deduced from your dividend, you obtain Death Benefit Insurance of £2500. This insurance is used to pay the funeral expenses. The insurance is available to all members who joined theCredit Union before their 70 birthday, and are in good health at time of joining
If you haven’t sufficient dividend to cover this premium, you can complete the appropriate form and pay the premium at the counter.
It is recommended that you retain a minimum of £1350 in shares in order to ensure you generate sufficient dividend to cover the premium each year.
Want to find out more?
Visit the Armagh Credit Union website, or get in touch with their team:
Telephone – 028 37 523681
Email – info@armaghcu.com
Copyright British Credit Union Historical Society 2018 – All rights reserved
British Credit Union Historical Society 