Our Lady Crowned Credit Union Limited

Our Lady Crowned Credit Union Limited is a member-owned financial cooperative based in Cork, operating under the Credit Union Act and supervised by the Central Bank of Ireland. Membership is restricted to individuals who live, work, or study within its defined common bond; opening an account typically requires photo identification, proof of address, and a Personal Public Service Number, and a small minimum share balance may be needed to keep an account active. Core services centre on share savings and unsecured personal lending, with loan decisions made on affordability and creditworthiness; loan rates are set by the board within regulatory caps, and returns on members’ shares are paid as a dividend or as interest only if declared, which means returns can vary from year to year. Eligible deposits are protected by the statutory Deposit Guarantee Scheme up to €100,000 per person per institution. The credit union is governed by a member-elected board of directors, publishes audited annual financial statements, and holds an annual general meeting where members vote on matters such as dividends and board appointments. Access is via the branch network and remote channels; many Irish credit unions also provide online account access, electronic funds transfers, and, where available, current accounts with debit cards, though the exact features offered depend on each institution’s arrangements. Typical constraints include a limited membership area, possible caps on individual savings balances, and a narrower product range than larger banks. Prospective members and borrowers should review the credit union’s official materials for the current common bond, opening hours, fees, savings limits, dividend history, and representative loan rates before applying.