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.
You can join at the counter (10 minutes) or download the membership application form, fill it in and post to us along with copies of a valid up to date picture ID, proof of address and proof of PPS. You will still have to call in to sign the membership documents and to present your ID.
Members of a credit union enjoy many benefits, including:
No fees - Free Services(loan insurance) - Convenience - Community Benefits
- Free Loan Protection Insurance with each loan
- Free Life Savings Insurance at no direct cost to eligible members.
- There are no account fees, maintenance costs or transaction charges.
- Competitive loan interest rates
- Encouragement and advice on a regular savings programme
- Return on your savings through annual dividends and loan interest rebates
- Pay into your savings or pay off your loan by standing order or salary deduction without calling in.
- Online access to transaction history and balances.
- One member one vote where you decide the future direction of your Credit Union. All members are owners.
Joining is Easy! To be eligible for membership of Ballymote Credit Union Limited you must be living or working within our common bond area.The common bond is an area of approximately 8 mile radius from Ballymote.
The common bond is the factor which unites all the members of Ballymote 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 once off entrance fee of €1.27 is needed to open an account. An amount of €6.35 must be held in the account for a member to be eligible as a shareholder.If an account is inactive for 3 years is will become dormant and all documentation will be required again to reactivate the account.
Three forms of identification. One form of ID from each of the sections below is required:
1. Evidence of Identification Must be a current picture ID, showing date of birth & expiry, i.e. Current valid Passport, current valid Driving License, current valid Garda I.D. Card.
2. Evidence of Address Must show address where you currently live & be dated within the last 6 months, i.e. Original Household Bill (e.g. ESB, Phone), Bank Statement, Government Correspondence, Social Welfare Correspondance.
3. Evidence of your PPS number To be produced on an Official Document/Card
(Revenue, Social Welfare, Medical, Payslip)
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