The credit union was opened for business in on the same day as registration as an Industrial and Provident Society Company number NO000083 in 1971
The original founder members struggled against a backdrop of social deprivation and unemployment to build a solid foundation that would last.
From then they continue to provide the services of Savings and Loans to members. The operations and management of the credit union was carried out by volunteers from parish rooms.
Ten years later they moved to premises in Mill Street where membership was confirmed as for residents of the parishes of Kilskeery and Devenish area BT78 and BT94.
The Common Bond was extended wider afield, so that services could also be provided for those in Trillick in Co Tyrone, and the area of Coa in Co Fermanagh.
The credit union is very active in the Schools within the Common Bond, who participate in many Credit Union events, including the annual Art Competition and CU Schools quiz run by the Irish league of Credit Unions.
As of 2015 there was a membership exceeding 2500 and a junior membership of more than 500. The credit union is a member of the Irish League.
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