As the amount of shares builds up, the common fund of money grows. This in then available for providing loans to members. All members are encouraged to save regularly, even when repaying a loan. This gives the member several direct benefits and ensures that there are funds for the credit union for use by all members.

Every €1 saved is equivalent of one share in a credit union. A minimum saving of €5 is needed to keep the account open. You should save regularly to build up a savings history. Each share is eligible for a dividend at the end of the year. The more savings held by the Credit Union, the more funds are available for loans to members.

Your credit union can help you achieve financial independence through regular savings and fair and affordable access to loans.

The common bond is that factor which unites all members of a credit union. It defines the area within which the credit union can operate. In Ireland, the most usual common bond is Community Bond (where all members live in defined village, town or locality); Occupational Bond (where all members are in the same occupation or work for the same employer); Association Bond (where all members are in the same society or association).

A financial cooperative, owned and controlled by its members for its members.