Carrick-On-Shannon and District Credit Union Limited

Carrick-On-Shannon and District Credit Union Limited is a member-owned cooperative financial institution serving people within its defined common bond around Carrick-on-Shannon and nearby areas. Membership is generally open to individuals who live, work, or study in the common bond, and services are provided on a not-for-profit basis for members’ benefit. Core offerings focus on retail savings (shares) and personal lending; savings are typically held as shares and any return is paid as a dividend only if approved at the annual general meeting, so it is variable and not guaranteed. Loans are provided to members subject to affordability and creditworthiness, with interest rates set by the credit union within regulatory caps that apply to Irish credit unions; terms, maximum amounts, and pricing are determined by internal policy and can change. The credit union is regulated by the Central Bank of Ireland under the Credit Union Acts, and eligible deposits are protected by the Irish Deposit Guarantee Scheme up to €100,000 per member. Governance is through an elected board, audited financial statements, and an AGM at which members can vote on matters such as dividends. The product set is narrower than that of a full-service bank, and policies such as savings limits, withdrawal conditions, and lending criteria are set locally; unresolved complaints can be escalated to the Financial Services and Pensions Ombudsman.