Borrisokane Credit Union Limited

Borrisokane Credit Union Limited is a member-owned cooperative financial institution based in Borrisokane, County Tipperary, regulated by the Central Bank of Ireland under the Credit Union Act and related regulations. It serves individuals within a defined common bond, typically those who live, work, or study in the surrounding area. Core activities are savings (share) accounts and consumer lending; loan categories commonly include car, home improvement, education, and share-secured loans, with interest charged on the reducing balance and APRs that vary by product and credit assessment. Any operating surplus may be distributed to members as a dividend or loan interest rebate or retained to strengthen reserves; returns on savings are not guaranteed and depend on annual performance and policy. Eligible deposits are protected by the Irish Deposit Guarantee Scheme up to €100,000 per person per institution. Membership requires standard identification and proof of address in line with anti-money laundering rules. Governance is through a member-elected volunteer board, audited financial statements are published annually, and complaints can be escalated to the Financial Services and Pensions Ombudsman if not resolved directly. The model entails community-based underwriting and a focused product set, while constraints include eligibility limits tied to the common bond, fewer ancillary services than full-service banks, and potentially more limited digital functionality and branch hours than larger providers. Prospective members should review the current common bond, lending rates, fees and charges, savings policies, and available access channels on the credit union’s official materials before proceeding.