Drogheda Credit Union Limited

Drogheda Credit Union Limited is a member-owned financial cooperative serving individuals within its common bond around Drogheda, Ireland. It offers core credit union services such as savings (member shares) and personal loans for uses including car purchase, home improvements, and education. Loan interest is charged on a reducing balance and is subject to the statutory Irish credit union cap of 1% per month (approximately 12.68% APR). Members can transact in branch and through remote channels, with electronic transfers, standing orders, and direct debit commonly used for lodgements and loan repayments. Membership generally requires living, working, or studying in the defined common-bond area and the usual identification and address verification. Deposits are covered, subject to eligibility, by the Irish Deposit Guarantee Scheme up to €100,000 per person per institution, and the credit union is regulated by the Central Bank of Ireland. Loan applications are assessed for affordability and creditworthiness, and approval, amounts, and rates vary by borrower profile and product. Governance follows the standard credit union model, with a board elected by members and potential distribution of surplus via dividends or loan interest rebates at the annual general meeting. Product availability, rates, fees, and operating hours are set locally and can change.