Become a Member
Our credit union is for people, not for profit!
A credit union is a group of people who save together and lend to each other at a fair and reasonable rate of interest. Credit unions offer members the chance to take control over their own finances by making their own savings work for them. Every Credit Union is owned by the members – the people who save & borrow with it.
The Credit Union exists only to serve its members. When you save with the credit union you contribute to your credit unions loan fund – in effect by saving you are helping other members – members like you.
The Credit Union is an organisation run for people, not for profit. Any surplus income generated is either returned to members by way of a dividend on your savings or a rebate of interest paid on your loan, and / or is directed to improved or additional services required by the members.
Credit unions differ from banks and other financial institutions in that the members who have accounts in the credit union are the owners of the credit union and they elect their board of directors in a democratic one person-one vote system regardless of the amount of money invested in the credit union. A credit union’s policies governing interest rates and other matters are set by a volunteer Board of Directors elected by and from the membership itself.
Many credit unions help to further community development and we are no exception, developing strong links with the local community and participating in a number of local initiatives as well as making a wide range of donations annually.
Our mission is to meet members’ financial needs through quality service at the best value while maintaining financial stability. In doing so, we aim to provide the highest level of personal financial services in a friendly and professional manner.
Members of a credit union enjoy many benefits, including:
No fees - Free Services - Convenience - Community Benefits
- There are no account fees, maintenance costs or charges
- We have a wide range of financial services available with a variety of discounts and free services for members
- Competitive loan interest rates
- Encouragement and advice on a regular savings programme
- Pay into your savings or pay off your loan by standing order
- You own the credit union, one vote (equal say) per member at AGMs regardless of how much you have in shares.
- Control over your finances
- Financial Advice available
- Loans available at a low rate of interest, and with great terms and conditions. Ease of payment through dd or laser card transactions.
- Dividends at the end of year and the possibility of receiving a rebate of loan interest paid.
- A wide range of services
- Security of savings through the credit unions’ fidelity bond, the Irish League of Credit Unions’ Savings Protection Scheme, and the Government Savings Protection Scheme. (All member’s shares are guaranteed up to the amount of €100,000)
- Loan life protection and life insurance at no direct cost to you. Once you maintain a balance of €200 in your shares you qualify for Death Benefit Insurance. €1,300 is available towards funeral expenses, peace of mind and security for your loved ones.
- The knowledge that your savings are being used for the benefit and development of your community
Joining is Easy! To be eligible for membership of Ballincollig Credit Union Limited you must be living or working within our common bond area.
The common bond is the factor which unites all the members of Ballincollig Credit Union Limited — it is what all members have in common i.e. where they live/work. Because of the common bond, all members have the good of their credit union at heart; they know and trust each other.
You need to present 3 forms of identification to join and a minimum of €10 is needed to open an account and keep it activated.
Three forms of identification. One form of ID from each of the sections below is required:
1. Evidence of Identification (must show proof of date of birth & recent photo), i.e. Current valid Passport, current valid Driving Licence, current valid Electoral Identity Card, Age card issued by An Garda Siochana.
2. Evidence of Address (must show address where you currently live) dated within the last six months) i.e. Original of recent Utility Bill, Original Recent Bank/Credit Card Statement, Government correspondence.
3. Evidence of your PPS number Social Services Card, Payslip, Any revenue documentation.
A minimum share balance of €10 is required to open an account and to retain membership
For queries on youth accounts (under the age of 16), club accounts, or any other queries, please contact a member of our friendly staff who will be happy to help.
We look forward to seeing you
Contact us today