What is a Credit Union?"A credit union is a group of people who save together and lend to each other at a fair and reasonable rate of interest."
While money is the medium, people are the real asset of the Credit Union. The Credit Union helps the people to help themselves and the income from loans and investments pays for necessary operational expenses and the building up of Credit Union reserves. The balance goes back to the members as a dividend on their savings and/or as a rebate on loan interest paid.
Credit unions offer members the chance to have 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 and borrow with it — people like you.
- Promote thrift in the community
- Encourage savings
- Lend to members at a reasonable rate
- Help members to manage their money wisely
How are we regulated?
Cahir Credit Union and indeed all Credit Unions are subject to various levels of supervision and regulation. Credit Unions in the Republic of Ireland are primarily regulated by the Central Bank.
Credit Unions affiliated to the Irish League of Credit Unions are subject to audits by field officers from the monitoring section of the Irish League of Credit Unions.
The financial affairs of the credit union are subject to annual audit by our registered auditor who reports directly to the members.
The Irish League of Credit Unions
Credit Unions are affiliated to the Irish League of Credit Unions, which is the central governing body of Irish Credit Unions. The League is governed by a Board of Directors elected at the annual convention to which all affiliated Credit Unions send two voting delegates.
While each Credit Union is autonomous, all Credit Unions operate under the terms of the Credit Union Act 1997 as amended and under the "Standard Rules of Credit Unions" copies of which are available at your Credit Union.
Our Latest News
June 2016: Click here for more details »
Don't forget the St. Patrick's day parade. It's time to start working on the float! We have some fantastic prizes! The theme has plenty of scope this year "Ireland - The past 100yrs"
Posted by Cahir Credit Union on Friday, 19 February 2016
January 2016: We now have a new Electronic Transfer Facility. Every member now has a BIC and IBAN for incoming and outgoing electronic transfers. Best of all, the service is free!
November 1st 2015: Cahir Credit Union underwent a Transfer of Engagement with Ardfinnan Credit Union on the 29th September 2015. We would like to welcome all our members from Ardfinnan. We hope they will benefit from the additional opening hours and services that we provide!
June 2015: Our New "Secured Loan" is here! »
August 2015: Click & Collect Foreign Exchange »Like us on Facebook! 2016 Newsletter
No loan is too small for your local Credit Union. Loan applications can be made for a wide variety of purposes including Cars, Home Improvement, Education, Insurance, Holidays, Christmas expenses and others.
To apply for your first loan you must establish a savings record for at least ten weeks and have made a lodgement each week for that period.
Your savings are protected under the Government's Deposit Protection Scheme up to a maximum of €100,000 per member.
Saving with the Credit Union not only allows you to accumulate a lump sum but also opens the door to all the membership benefits that the credit union has to offer.
Remember: One of the criteria's for applying for your first loan is regular consistent saving for three months so get saving as you never know when you might need your first loan!
InsurancesWe offer the following:
- Life Savings Insurance
- Death Benefit Insurance
- Loan Protection Insurance
Paying over the phone by Debit Card
You can pay your loan or add to your savings by phoning us with your Debit Card Details. You can call in at a later date to update your Credit Union Book.
Please note: €500 maximum payment can be made by Debit Card. We do not accept credit cards.
We now have a new Electronic Transfer Facility. Every member now has a BIC and IBAN for incoming and outgoing electronic transfers. This is a free service.
Need to purchase or exchange some foreign currency? We provide a full foreign exchange service. Simply click on the foreign exchange link below & follow the instructions to pre-order foreign currency on-line and collect it in our office in Cahir.
COVER U Insurances
We provide Car, Home and Travel Insurances with flexible cover options and optional extras.