Granard Credit Union Limited

Granard Credit Union Limited is a member-owned financial co-operative based in Granard, County Longford, serving individuals who meet its local common-bond criteria (typically living, working, or studying in the area). It operates under the Credit Union Act 1997 (as amended) and is regulated by the Central Bank of Ireland. Member savings are held as shares and, together with eligible deposits, are covered by the statutory Deposit Guarantee Scheme up to €100,000 per member per institution. The core offering is straightforward savings and personal lending, including loans for cars, home improvements, education, and general purposes; rates are quoted as APR on a reducing-balance basis, applications are underwritten for affordability and credit history, and early repayment is generally permitted without penalty. Dividends on shares and any loan interest rebate depend on annual surplus and are not guaranteed; many credit unions also apply savings balance limits and may restrict lodgements when necessary. Account opening typically requires proof of identity, address, and eligibility under the common bond. Service delivery is primarily branch-based, with telephone support and varying levels of online access depending on the credit union’s adopted systems; availability of a current account and debit card depends on local participation in sector platforms and is not universal. Governance is through a member-elected board and an annual general meeting, with audited financial statements published each year, and unresolved complaints can be taken to the Financial Services and Pensions Ombudsman.