Irvinestown Credit Union Ltd. » Products and Services

Irvinestown Credit Union Ltd.

Work 25 Mill Street Irvinestown Co. Fermanagh BT94 1GR Work Phone: 028.6862.1255 Website: http://www.irvinestowncu.com

Biography

Irvinestown Credit Union provides a service for the people of Irvinestown, Trillick, Kilskeery and Coa.

As banks stumble from one crisis to another, and as credit has once again become difficult to obtain, our local credit union once again is providing an invaluable service.

Our local Credit Union was set up in the early 1970s at a time of high unemployment when, then as now, banks were unable to provide credit without substantial collateral or guarantees.  You had to be a home owner in order to get a loan and very few people owned their own homes in the late 70’s. Money lenders charged exorbitant rates of interest perpetuating the cycle of hardship.  Consequently the ordinary working class people in the Irvinestown area had only very costly sources of credit available to them.

Eight forward thinking individuals in Irvinestown decided there must be a source of affordable, reasonable credit for the ordinary person. They researched and discovered the fledgling Irish Credit Union movement and the well-established international credit union movement. These 8 individuals pooled their combined savings – six pounds and ten shillings – and in October 1971 formally established Irvinestown Credit Union Ltd.

Today Irvinestown Credit Union Ltd has 2455 members and 620 minor savers. Operating under the motto “Not for profit, not for charity, but service”. Irvinestown Credit Union Ltd has successfully provided for its members a source of low cost credit and other financial benefits and services.