Bantry Credit Union Limited

Bantry Credit Union Limited is a member-owned financial co‑operative based in Bantry, County Cork, serving individuals who live, work, or otherwise qualify within its common bond. It provides core credit union services, primarily member share (savings) accounts and personal loans for purposes such as car purchase, home improvement, and education, with loan pricing set by the credit union and interest typically charged on a reducing balance, subject to the statutory maximum of 1% per month (12.68% APR). Membership and borrowing are restricted to qualifying members, and lending decisions are based on income, credit history, and affordability, with documentation required under anti‑money‑laundering rules; savings pledged as loan security can limit withdrawals. Member funds are covered, up to €100,000 per person, by the Irish Deposit Guarantee Scheme, and the credit union is regulated by the Central Bank of Ireland under the Credit Union Act framework, including requirements on reserves, liquidity, and governance. As a co‑operative, it operates on a one‑member‑one‑vote basis with a board elected by members at the AGM, and it publishes audited annual financial statements. Day‑to‑day access is via its branch in Bantry and standard payment channels such as electronic transfers, with opening hours, product terms, and any savings limits or fees set by the credit union and subject to change; complaints can be escalated to the Financial Services and Pensions Ombudsman if not resolved through the credit union’s internal process.