Credit Union is a local, not for profit financial institution. Established in 1960 by a group of local people registered in January 1971 as an Industrial and Provident Society Company number NO000064
Those early years were difficult ones but through perseverance and hard work the founders strived to provide the services of Savings and Loans to members. The Credit Union saw significant growth through those years, so much so the Directors decided to purchase premises to accommodate the credit union.
The operations and management of the credit union was originally carried out by volunteers from the Board of Directors and eventually backed up in time by dedicated staff who have increased over the 50years.
The Common Bond was extended wider afield, to areas which were not already being served by any other credit union Membership continues to grow and currently have over 13000 active members.
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.
In the 50-year celebration Annual General Meeting the credit union declared they had £30 million of members savings, reserves of nearly £5million and paid a dividend of 1.5% to saving accounts plus 25% loan interest rebate.
The world of the Credit Union is ever changing and this Credit Union will be at the forefront of these changes as one of the largest in Northern Ireland, thanks to those hardworking founders
Want to find out more?
Get in touch with their team:
Telephone – 02871382631
Email – info@strabanecu.com
Copyright British Credit Union Historical Society 2018 – All rights reserved
British Credit Union Historical Society 