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About Clonsilla Credit Union
What do I have to bring with me in order to join the credit
union?
What is the purpose of the nomination form?
What is this Life Savings Insurance Scheme?
When do I qualify for my first loan?
How much can I borrow on my first loan? Loan policy
currently being reviewed
How much can I borrow on my second loan? Loan policy
currently being reviewed
What about further loans?
How are my savings/shares affected when I get a loan?
Additional services offered by Clonsilla Credit Union
Clonsilla Credit Union Limited has been serving the community since 1983.
We are a democratically controlled, member-owned non-profit making financial co-operative.
We offer a wide range of services to cater for the needs of our members.
Quality service to our members is our priority and our watchword.
Membership of the credit union is open to all who live, or work, in our 'common bond' of membership. A credit union's 'common bond' is clearly defined by boundary lines drawn on a map, registered with the Registrar of Friendly Societies and agreed with all of our neighbouring credit unions through the Irish League of Credit Unions.
If you simply tell us where you live or where you work, we will tell you if you qualify for membership.
To view photos of our credit union, click here
Under the Criminal Justice Act 1994, we are obliged to ask you for proof of identity and evidence of address:
you have to provide us with a photo ID, e.g. passport, driving licence, proof of identity;
a current utility bill (gas, phone, electricity bill, etc.) as evidence of address
A completed application for membership form which should be filled in by you in the office and witnessed by a member of our staff
A completed nomination form which should be completed in conjunction with the application form
a membership fee of €1.27 payable on joining (over 16 years only)
In the event of a member dying while in membership, we would need the name
of another individual, to whom we can give your shares and the proceeds of
the life savings insurance claim under our life savings insurance scheme.
Some members nominate their next-of-kin or some other member of their family
or a close friend to be their beneficiary. The choice is entirely yours.
Members' savings, within certain limits, are insured through Life Savings Insurance. Click here for more details
When you have been saving regularly for thirteen weeks, you can apply for a loan.
Loan policy currently being reviewed
on your first loan, you can normally borrow twice what you have in savings, subject to a maximum of €2,000 in excess of those savings
you must clear your first loan in full before you can avail of a second loan facility, so as to establish a credit rating with the credit union
For a second loan you can normally borrow three times your shares/savings
subject to the discretion of the credit committee.
You would be expected to increase your savings by a manageable amount while
repaying your loan.
All further loans are at the discretion of credit committees and one of our staff would advise you at the time of making the application.
The sum total of all members' savings/shares provide the pool of money from which the credit union makes loans available to you. It is important for the continued growth of the credit union that you add to your savings while repaying a loan. By leaving the shares which you have accumulated with the credit union intact, you are preserving the benefits of life savings insurance and by continuing to save, you are providing us wth the funds necessary to make additional loans available to members.
