British credit Union Historical Society
Promoting Unity-Preserving the Past-Educating the Present-Enriching the Future
Magherafelt & District No 3 Credit Union Ltd
Magherafelt & District No 3 Credit Union was founded in 1988 and is a not-for-profit financial organisation. The Credit Union was formed by a group of local residents who felt that the time was right to offer savings schemes and low-cost loans
facilities to the local community. In the early days the Credit Union volunteers operated in Magherafelt Orange Hall (kindly loaned) but, as the years passed, and the organisation grew to a more secure financial footing, purpose-built facilities were erected
onto the back of the existing Orange Hall. 2008 was an exciting year for the Credit Union as they under took a major overhaul and expansion programme. The intention was to offer existing members even more services and encourage new membership from the
local area and it paid off. In 2010 the Credit Union took the difficult decision to leave their existing premises in the Orange Hall and move to purpose-built premises in Kirk Avenue, Magherafelt. These premises are more accessible to the public, have
the advantage of a "shop front" and provide more facilities for the Staff, Directors and ultimately the members.
Banbridge Credit Union Ltd
A discussion Group met regularly in St. Patrick’s Hall, to discuss about Credit Unions that were already up and running in neighbouring towns like Armagh, Newry and Lurgan. The discussion group invited Jack O’Hare the President of Armagh
Credit Union to speak at a meeting in March1969 and from that meeting a working group was established to study the feasibility of setting up and running a Credit Union in Banbridge, bearing in mind that there would be no paid staff and that all the work would
be done by volunteers.On the 24th May 1969 a public meeting was held and it was agreed unanimously that a Credit Union be formed. Election to the Board of Directors was by secret ballot and the first board of directors were elected.The Credit Union opened
for business in June 1969. Banbridge Credit Union grew new premises were acquired and with continued expansion over the years offices were subsequently acquired in different locations. With continued growth it was decided to purchase a green field site
and build premises fit for purpose which will hopefully serve Credit union members for generations to come.
A-B-C Credit Union Limited
In March 1968 fourteen people got together and founded A-B-C Credit Union. Those original members contributed 2 shillings and 6 pence, the equivalent of 12p today. In April of that year, with a share balance of just £19.00, A-B-C
Credit Union Ltd opened its books for membership. It was also in April 1968 the credit union became affiliated to the Irish League. Those early years were difficult ones. The original founder members struggled against a backdrop of social
deprivation and unemployment to build a solid foundation that would last. What they had created has stood the test of time and a debt of gratitude is owed to those founder members for the benefits enjoyed today. Big changes saw the credit union come under
the Financial Conduct authority in 2012.
491-495 Crumlin Rd, Belfast BT14 7GA
Ballinascreen Credit Union Ltd
Ballinascreen Credit Union is a local, not for profit financial institution based in Draperstown. Established in 1968, Ballinascreen Credit Union Limited has successfully provided its members with a source of low cost credit and other financial services
over the past 50 years.
The Credit Union was first mentioned in late 1967 in Ballinascreen. The Parish Priest at that time, the late Fr. Michael Collins saw Credit Union as fulfilling a social need, and providing credit with dignity, besides other
unmeasurable benefits. In January, he called a meeting to form a study group to promote credit union in the parish. Following lengthy discussions and research, a committee was formed to organise a Credit Union. The inaugural meeting was held on
February 19th 1968 and was addressed by Mr John Hume, the then President of the Irish League of Credit Unions.
The mission statement of Ballinascreen Credit Union is "to help people by providing them with quality financial services in a friendly,
professional manner on a not-for-profit basis, so as to improve their overall wellbeing and that of the whole community".
2016 AGM https://drive.google.com/file/d/0B6WjYYhdd9jXOWsxazcteUVJZHM/view?usp=sharing
Lurgan Credit Union Limited
Lurgan Credit Union Limited held its first meeting on the 11th December 1963 at St Anthony’s Hall in the town. After just one year in operation, the membership had swollen from 18 to 170, with loans issued for the year equal to £3216.00.
The shares lodged for the year were £3350.00. In February 1970 we moved to new premises at 12 North Street, Lurgan. By 1977 membership stood at 5,000 and share balances stood at £1,000,000. In 1982, we had reached unprecedented levels of growth
and as a result we began to search for larger premises. 14 North Street was purchased and extensive renovation carried out, without any interruption in service. The end of 1982 had provided Lurgan Credit Union with a fully operational building. Growth followed
steadily throughout the 1980′s the levels of membership grew to 9,202 members in our 25th year 1988 and a share balance in access of £3.5 Million. It was decided in 1994 that our premises were not
sufficient because of the growth in membership so by 1996 we found ourselves after renovations of the whole building back where we started in 1963. At present we have 24,198 members with our members loans standing at £25,355,497 and our members shares
at £61,163,157. The Future of Lurgan Credit Union Limited is strong with the introduction of our new website which we completed in 2013.
For full history click on the link below and open in new tab
Larne Credit Union Ltd
The principles of CO-OPERATION and SELF HELP, with a view to helping families and individuals in the Larne area to improve their quality of life, were the motivating factors in the setting up of Larne Credit Union. In 1971a study group was set up to
study the principles of Credit Union and to discuss the rules. 1973 the credit union began operating with a small number of members. Premises were rented in Main Street, Larne before moving to Dunluce Street and then back to Main Street again. 1979 they purchased
a small house in Circular Road, Larne and used it as the office. The following year they purchased an adjoining house and these two houses were knocked into one and rebuilt, mostly by VOLUNTARY labour. As business developed the need for larger premises was
obvious. The year 2000 established a branch office in Carnlough, in rented premises. Five years later Mrs Arlene Clements was appointed as Office Manager of Larne Credit Union Limited. 2006 A site was purchased in Carnlough for a new sub office. Mr Uel Adair
President of the Irish League of Credit Unions, officially opened the new sub office in 2007. The credit Union continues to grow
Newry Credit Union Ltd
Newry Credit Union was established in 1963. The Newry of the time was a very different place to the city we all know today. Many local people were unable to obtain finance from banks and so had no alternative but to use the money lenders and pawn
shops who were operating in the town at the time. This resulted in them becoming trapped into a cycle of debt that they couldn’t get out of. Newry Credit Union was formed in response to this. A number of men living and working in the town at the
time had had heard of the Credit Union movement across Ireland and thought that establishing a Credit Union in Newry would help people to gain financial independence and out of the grasp of the moneylenders. And so, Newry Credit Union first opened its doors
in June 1963 in two leased rooms in Merchants Quay and on the first night there was £21 in savings.
Of course, we’ve
had a number of homes since moving to our state of the art premises in 2000, but although the premises have changed our aim to provide the people of Newry with financial services at fair rate of interest has remained constant.Newry CU is a member of the Irish
Ballynahinch Credit Union Ltd.
Ballynahinch Credit Union was founded on 4th April 1965 and initially business was carried on in a room within the parochial hall attached to St Patrick’s Church. The original common bond was defined as the parishes of Ballynahinch and Magheradroll
and to become a member the individual had to work or live within the common bond.
Within a year The Credit Union moved to St Patrick’s PS and business was transacted on a Friday evening and there was a further move to a room above the Athletic
During the early days the Credit Union was run entirely by volunteers and it was only when the Dromore Street office was opened that the first paid staff were appointed.
In 1993/1994 the business became computerised and there was a further
move to Windmill Street.
The common bond was extended over time to take in Drumaness, Crossgar area. In the early days in Crossgar business was transacted door to door until premises were secured in the area. Property was purchased in 2003 was refurbished
and opened to members in 2004 A note of thanks to the first officers of the Credit Union, and all the many volunteers who over the years have delivered the benefits of the Credit Union
Mid Tyrone Credit Union Ltd
Brethren held a meeting in Omagh Orange hall from Omagh District on the 30th September 1991 with a view to setting up a credit union. On the 1st July 1992 we were registered with the Department of Economic Development as a credit union.
A meeting of shareholders was then held on 3rd July 1992 for the purpose of electing a Board of Directors. In September 2004 the Tyrone Federation of Credit Unions was formed. MTCU decided to sever their links with the Ulster Federation to join the new
Tyrone Federation. After many years of good service as principal office-bearers Mr. Sam Hammond and Mr. L. Moore stood down from their positions of Chairman and Secretary at the 2012 AGM.
Slemish & Brad Credit Union Ltd
Slemish Credit Union Ltd. Formed in the 90’s and took place in the old Minor Town Hall in Ballymena, a princely sum of £7.00 was collected Shortly after the formation of Slemish Credit Union Ltd., another group of like
minded people came together to form Braid Credit Union Ltd..
In 2007 it became very clear to both Credit Unions the benefit of a merger and Slemish n tha Braid Credit Union Ltd. was formed. 2014/15 will see the cornerstone legacy, the opening of the
new principal and Registered Office on the former Raglan Bar site, Queen Street, Ballymena.
Cloughfern Community Credit Union Ltd
Cloughfern Community Credit Union began operating as a Credit Union in 1990 following a successful examination by the Registrar from the Department of trade and industry. The initial Board of Directors consisted of 22 people both male and female
but due to resignations and deaths now stands at 12. One of the early successes of Cloughfern Credit Union was the development of its own computer software programme developed by one of its Directors Ray Perry. The programme was so successful that
it was distributed widely accross Northern Ireland. Another major success came in 1994 when, with the help of a grant from the Belfast Action Teams working within the 'Making Belfast Work' programme, the credit union was able to purchase and erect
its own office building on its current site. The Credit Union has grown rapidly over the years and due to demand has opened sub-offices in Monkstown and Ballyclare where it operates on Saturday mornings. Due to the success of our Junior
Member Accounts, the credit union is considering expanding these accounts into local schools. It is hoped to do this in the near future with the help of The Ulster Federation of Credit Unions which Cloughfern is an affilliated member of.