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Latest News

01 Apr 2021

Coronavirus COVID-19

As more COVID -19 cases are confirmed in Ireland, we would like to reassure members that we are currently operating as normal.

03 Apr 2021

Managing & Safeguarding your Credit Union Account

The ILCU Legal Department has developed a new guide, entitled "Managing and Safeguarding your Credit Union Account" , which is specifically for credit union members.

05 Apr 2021

2020 Student Bursary

Applications are now open for the 2020 Student Bursary. Forms are available in the office or you can print one here.

06 Apr 2021

Credit Union Art Competition 2020

2020 Credit Union Art Competition has been launched. Closing date for entries at Abbeyfeale Credit Union is Friday 16th October 2020. Entry Form & Rules.

07 Apr 2021

Student Bursary Winner 2020

This years winner of the Abbeyfeale Student Bursary was Michael Tony, Duagh, Co Kerry.

FAQs

What is the Common Fund?

As the amount of shares builds up, the common fund of money grows. This in then available for providing loans to members. All members are encouraged to save regularly, even when repaying a loan. This gives the member several direct benefits, and ensures that there are funds for the credit union for use by all members.

What are shares?

Every €1 saved is equivalent of one share in a credit union. A minimum saving of €10 is needed to keep the account open. You should save regularly to build up a savings history. Each share is eligible for a dividend at the end of the year. The more savings held by the Credit Union, the more funds are available for loans to members.

What can a credit union do for you?

Your credit union can help you achieve financial independence through regular savings and fair and affordable access to loans.

What is the common bond?

The common bond is that factor which unites all members of a credit union. It defines the area within which the credit union can operate. In Ireland, the most usual common bond are Community bond (where all members live in defined village, town or locality); Occupational Bond (where all members are in the same occupation or work for the same employer); Association Bond (where all members are in the same society or association).

What is a credit union?

A financial cooperative, owned, and controlled by its members for its members.

Why not become a member today

Why not become a member today

Simply drop into our office, with the applicable documentation, to become a member.