Ballymote and District Credit Union Limited

Ballymote and District Credit Union Limited is a community-based, member-owned financial cooperative serving individuals within its defined common bond around Ballymote, Co. Sligo. It operates under the Credit Union Acts and is authorised and regulated by the Central Bank of Ireland, with obligations to maintain minimum regulatory reserves and liquidity and to publish audited financial statements. Savings are typically held as “shares” in the member’s name; any dividend is not guaranteed and depends on annual performance and member approval at the AGM. Eligible deposits are covered by Ireland’s Deposit Guarantee Scheme up to €100,000 per person per institution. The credit union provides core services such as savings and personal lending, including unsecured loans and, in some cases, loans secured against savings; interest rates and loan terms are set locally and applications are assessed on affordability and creditworthiness with standard identification and anti–money laundering checks. Membership requires evidence of residence, employment, or other ties to the common bond, along with acceptable ID and address verification. Fees may apply for specific services, and product availability (including features such as online account access or payment services) can change based on regulatory and operational considerations; current terms are set out in its member documentation and schedule of charges. Governance is by a board elected by members, with statutory oversight structures in place, and there is a formal complaints process that can be escalated to the Financial Services and Pensions Ombudsman if unresolved. Dividends, rates, and service features should be verified against the latest disclosures before making financial decisions.