What is a Credit Union?"A credit union is a group of people who save together and lend to each other at a fair and reasonable rate of interest."
While money is the medium, people are the real asset of the Credit Union. The Credit Union helps the people to help themselves and the income from loans and investments pays for necessary operational expenses and the building up of Credit Union reserves. The balance goes back to the members as a dividend on their savings and/or as a rebate on loan interest paid.
Credit unions offer members the chance to have control over their own finances by making their own savings work for them. Every credit union is owned by the members — the people who save and borrow with it — people like you.
- Promote thrift in the community
- Encourage savings
- Lend to members at a reasonable rate
- Help members to manage their money wisely
How are we regulated?
Cahir Credit Union and indeed all Credit Unions are subject to various levels of supervision and regulation. Credit Unions in the Republic of Ireland are primarily regulated by the Central Bank.
Credit Unions affiliated to the Irish League of Credit Unions are subject to audits by field officers from the monitoring section of the Irish League of Credit Unions.
The financial affairs of the credit union are subject to annual audit by our registered auditor who reports directly to the members.
The Irish League of Credit Unions
Credit Unions are affiliated to the Irish League of Credit Unions, which is the central governing body of Irish Credit Unions. The League is governed by a Board of Directors elected at the annual convention to which all affiliated Credit Unions send two voting delegates.
While each Credit Union is autonomous, all Credit Unions operate under the terms of the Credit Union Act 1997 as amended and under the "Standard Rules of Credit Unions" copies of which are available at your Credit Union.
Our Latest News
1. Deirdre Myles and Sean Duggan
2. Clare Hally and Sean Duggan
3. Jerry O' Mahoney and Sean Duggan
4. Denis Hartnett and Sean Duggan
5. Mary Meagher and Sean Duggan
The Board, Staff and members of Cahir Credit Union would like to thank and send best wishes to Jerry, Mary, Deirdre and Clare for their years of commitment and dedication to Ardfinnan Credit Union. We would also like to wish Denis a long and happy retirement.
Posted Thursday, 16 February 2016
We are delighted to announce that your Credit Union took Best Shop Front Award in the Cahir Tidy Towns Awards Night 2016 last Friday night. We hit the double wammy with the 1st prize in the Business Floral Display Award. Thanks to Cahir Tidy Towns and their sponsors Dolans Supervalu Cahir for organising such a wonderful evening. Photos are credit to Gareth Saunders.
Posted by Cahir Credit Union on Wednesday, 13 July 2016
Cahir Credit Union are the proud sponsors for the Cahir Downhill Half-Marathon again this year. Be sure not to miss this fantastic family fun day!
Posted by Cahir Credit Union on Friday, 19 February 2016
No loan is too small for your local Credit Union. Loan applications can be made for a wide variety of purposes including Cars, Home Improvement, Education, Insurance, Holidays, Christmas expenses and others.
To apply for your first loan you must establish a savings record for at least ten weeks and have made a lodgement each week for that period.
Your savings are protected under the Government's Deposit Protection Scheme up to a maximum of € 100,000 per member.
Saving with the Credit Union not only allows you to accumulate a lump sum but also opens the door to all the membership benefits that the credit union has to offer.
Remember: One of the criteria's for applying for your first loan is regular consistent saving for three months so get saving as you never know when you might need your first loan!
InsurancesWe offer the following:
- Life Savings Insurance
- Death Benefit Insurance
- Loan Protection Insurance
Paying over the phone by Debit Card
You can pay your loan or add to your savings by phoning us with your Debit Card Details. You can call in at a later date to update your Credit Union Book.
Please note: €500 maximum payment can be made by Debit Card. We do not accept credit cards.
Setting Up a Standing Order
Standing Orders are a convenient way for members to save and pay their loans. Some people send in enough funds so that they can pay the interest, the loan and also save. You need to call to your Bank and give them your Cahir Credit Union BIC and IBAN. Your bank will set up the standing order for you. You can get your BIC and IBAN by ringing us or by ordering a statement. If you wish to save some of the money from the standing order please advise the staff so we can update our system.
The standing order is controlled by the member so if you wish to change the amount or cancel it you must make contact with your bank directly. It may take the bank five to ten working days to set this up. Be mindful that the setting up time does not cause you to miss a week's payment which could cause arrears. You may need to increase your standing order if you get a top up on your loan.
Need to purchase or exchange some foreign currency? We provide a full foreign exchange service. Simply click on the foreign exchange link below & follow the instructions to pre-order foreign currency on-line and collect it in our office in Cahir.
We now have a new Electronic Transfer Facility. Every member now has a BIC and IBAN for incoming and outgoing electronic transfers. This is a free service.
COVER U Insurances
We provide Car, Home and Travel Insurances with flexible cover options and optional extras.