Sheephaven Credit Union Limited

Sheephaven Credit Union Limited is a member-owned financial cooperative serving people within a defined common bond in north-west County Donegal, Ireland. It offers core credit union services such as share (savings) accounts and consumer lending to eligible members who live, work, or otherwise qualify within its field of membership, subject to standard identification and anti–money laundering requirements. The credit union is authorised and supervised by the Central Bank of Ireland under the Credit Union Acts, with binding rules on capital reserves, liquidity, and lending concentration; eligible member deposits are protected by the Deposit Guarantee Scheme up to €100,000 per person per institution. Any return on savings is not guaranteed and, where paid, is typically distributed as a dividend or interest based on annual surplus and board approval, with DIRT generally deducted unless an exemption applies. Loans are usually priced on a variable, reducing-balance basis and require affordability assessment, with security or a guarantor sought where appropriate; early repayment reduces interest cost. Governance follows a cooperative model (one member, one vote) with a member-elected board and an annual general meeting, and complaints can be escalated to the Financial Services and Pensions Ombudsman. Access is via local branch services and standard payment channels, while the availability of online or mobile features, specific product types, and any applicable fees depends on the credit union’s current offering and should be confirmed directly with the institution.