Ballinasloe Credit Union (Our Lady Of Lourdes) Limited

Ballinasloe Credit Union (Our Lady Of Lourdes) Limited is a member-owned financial cooperative based in Ballinasloe, County Galway, operating under the Credit Union Act 1997 (as amended) and supervised by the Central Bank of Ireland; eligible savings are protected by the State Deposit Guarantee Scheme up to €100,000 per person per institution. It provides core credit union services such as share-based savings and personal lending to members within its common bond, with loan approval subject to affordability and credit checks and product rates set locally and published by the credit union. Dividends on savings and any loan interest rebate are not guaranteed and depend on annual surplus and member approval at the AGM. Membership is limited to individuals who meet the common-bond criteria (typically residence, employment, or association in the local area) and requires standard identification and address verification; additional documentation applies for borrowers. Fees and charges can apply to specific services, and savings caps or limits per member may be imposed based on funding and regulatory considerations. Financial and governance information, including audited annual accounts, regulatory reserves, and arrears data, is disclosed in annual reports and statutory returns. Complaints follow the credit union’s internal process and can be escalated to the Financial Services and Pensions Ombudsman if unresolved. Rates, terms, and service availability change over time, so prospective and existing members should confirm current details directly with the credit union before applying.