Welcome to the Ballymote & District Credit Union Limited website.
On the proposal of the District Council, a public meeting was held in the Castle Hotel, Ballymote, in March 1988 to investigate the possibilities of forming a Credit Union. At this meeting a representative of the Irish League of Credit Unions, Mr. Kieran Bishop and representatives of Sligo Credit Union, Mr. Tony Hayden and Mr. Jim Finn outlined the advantages of a Credit Union for a community.
Permission to form a Study Group was granted by the League. A core group of 20 to 25 people met weekly for approximately a year in the local Community Centre to carry out an in-depth study of the rules of the Credit Union and the requirements and regulations governing the operation of same. During this time a Savings Scheme was formed among the Group members and later expanded to include interested non group members.
Under the guidance of Mr Ciaran Bishop and Mr Michael Gormley of the Irish League of Credit Unions, the ultimate goal of forming a Credit Union was achieved with registration with the Registrar of Friendly Societies and affiliation to the Irish League of Credit Unions on 5th March 1989. The Supervisory Committee and The Board of Directors were elected at the Organisation Meeting which was chaired by Mr Ciaran Bishop.
Ballymote and District Credit Union was officially launched on 15th April 1989 by Mr. Eamon Barnes, D.P.P. The office opened for business on 20th April 1989. Initially the office, which was based in the Community Centre was open for business twice weekly and was operated by a group of voluntary tellers which included Board members and 4 non-Board members. In July 1992 a sub-office was opened in Cloonamahon which proved very successful.
In Sept 1992 the Board of Directors looked at purchasing a new premises. A nearby office, the property of Mr T. Tighe, was considered suitable and a purchase price of £20,000 with a further payment of £2000, 2 years later was agreed in January 1993. This purchase was made with the help of a loan of £20,000 from the Irish League of Credit Unions.
The Credit Union moved into its new premises in early 1994 with the appointment of a part-time worker Joan Meehan. February 1995 saw the opening of a new sub-office in Riverstown, which contributed greatly to our Credit Union’s ongoing success . This sub office was closed a few years later because of lack of volunteers and security issues. A further part-time worker, Deirdre Kelly was appointed in 1996 as the Credit Union continued to flourish. Opening hours were extended to include opening for full days on Thursday and Friday and for half days on Tuesday, Wednesday and Saturday, with the Credit Committee facilitating loan applications on Thursday evenings.
With continued growth in membership, the Board of Directors decided in 1996 to invest in a new ICE computer system which assisted staff in the management of member’s accounts.
Our Credit Union had a double celebration in 1999 to mark its 10th Anniversary and reaching £1 million in member’s shareholding. This was marked by a reception at our newly renovated office and followed by a function with a buffet meal which was held in John Doddy’s.
A further celebration to celebrate the 25th anniversary of our Credit Union was held in Doddy’s. A presentation was made on the night to two founding member, Catherine Finn (member no.1) and Noreen Cremin, both of whom were retiring after 25years of unbroken service to our Credit Union. In December 1999 Deirdre Kelly left our Credit Union to take up other employment and Theresa Hargadon was appointed in her place in January 2000.
With an ever increasing membership, it became apparent to the Board of Directors that storage space would soon become an issue. A decision was made to build an extension to the rear of the existing building which would facilitate extra storage, a new manager’s office and new kitchen and toilet facilities. This work, together with a new roof was completed by local builder, Mr Alan Brehony, in November 2002.
In November 2012 it was decided to employ a part-time employee, Nicola McLaughlin, due to the increased workload. In October 2013 Nicola moved to another area of the country and In November 2013 Baruch Scully was hired. Claire Devaney joined the front office in a voluntary capacity in 2015.
Investment in additional modules of the ICE computer system, which facilitates the production of reports in line with Central Bank requirements, was made in 2012. The Credit Union is currently in the process of automating the accounts process and providing access to online balances and transaction details for members which should deliver labour savings and increase the efficiency and effectiveness of staff and management.
Our Credit Union at Sept 30 2015 has 3263 members with €7.6 million in member’s shares and a loan book of €3.8 million.
Ballymote and District Credit Union has remained at the heart of the community and our ethos of member service is still our main objective.
Ballymote Credit Union is a local, not for profit financial institution. We specialise in providing a safe place for savings and loans in our community. Established in 1989, Ballymote & District Credit Union Limitedn is proud of its heritage and continues to be governed by our members and voluntary Board of Directors.
A credit union is a group of people who save together and lend to each other at a fair and reasonable rates of interest. All members are also owners and have the right to vote at the AGM and have a say in the future direction and services of the Credit Union. We offer members the chance to have control over their own finances by making their own savings work for them. Ballymote & District Credit Union Limited is owned by the members — the people who save and borrow with it — people like you.
Why not become a member today – Please click here.
For information relating to the Annual Meeting and Financial Statements for the year ended September 2019, please download here.