“Working with the community.”
Letterkenny Credit Union was established in 1962 and is increasing in size and strength each year. As a community based credit union we are focused on our members and pride ourselves on offering quality services to members within the local areas of Letterkenny and its immediate surrounding areas.
As a member of Letterkenny Credit Union Ltd:
- You own this credit union
- You have an equal say in the running of Letterkenny Credit Union Ltd.
- You have access to fair and competitive rates on savings and loans.
- You are helping others through the Members Savings Pool which is used to provide financial assistance to other members.
Our vision is to satisfy the social and economic needs of our Members, with dignity and integrity, by offering, in a co-operative manner and on a not-for-profit basis full financial services for everyone in the Letterkenny community.
Letterkenny Credit Union will achieve this vision by:
- Developing and delivering financial services in an effective and efficient manner.
- Recognising the dignity of each Member.
- Providing leadership for the community in our philosophy of financial services.
- Fostering and developing a co-operative spirit within the local community.
The Credit Union “Mission Statement”
The Mission of the Credit Union is to promote the financial well being of its members. To achieve this purpose the Credit Union is committed to providing a broad range of innovative financial products supported by the excellent service of a dedicated, well-trained staff. These programs will be administered in accordance with sound management practices to maintain the financial strength of the Credit union. The Board of Directors, Management and Staff of the Credit Union hereby affirm that the efforts of the Credit Union will be consistently and professionally dedicated to the accomplishment of this mission.
The Credit Union Story
The modern Credit Union movement traces its origins to Germany and to Friedrich Willhelm Raiffeisen, the Mayor of a small town in southern Germany, who in 1849 formed societies, which later evolved into Credit Unions. The purpose of these Credit Unions was to enable people to help themselves in relieving debt and poverty.
A Credit Union is a democratic, financial co-operative owned and controlled by its own members. Each Credit Union is run only to benefit its members, all of whom have something in common – the common bond.
The Credit Union movement was introduced into Ireland in 1958 by Nora Herilhy with the support of a number of other dedicated pioneers.
Since then, the Credit Union philosophy of mutual self-help has proved very popular, and there are now over 530 Credit Unions affiliated to the Irish league of Credit Unions throughout the country.
In Ireland millions of members have recognised the value of credit unions. There are thousands employed in the sector and many more thousands are volunteers involved in the movement.