What is a Credit Union?
A credit union is a financial co-operative owned and controlled by its members. It is run for the benefit of its members who are all connected through “a common bond” – an area from which Tipperary Credit Union can accept members. The common bond of Tipperary Credit Union covers Tipperary Town and surrounding areas including Bansha, Doon, Dundrum, Cappawhite, Hollyford, Emly and for member convenience, Tipperary Credit Union has a branch office in six of these locations. Tipperary Credit Union also has a branch office in Plassey, Castletroy, Co Limerick
The credit union is operated by a Board of Directors who are elected by the members at each Annual General Meeting. The Board appoints a Chief Executive and staff to oversee the day-to-day operations of the credit union.
As a member you are invited to become involved in the operations of your credit union. Various committees are appointed each year to assist in the running of the credit union.
Therefore a credit union is a group of people (members) who save together and lend to each other at a reasonable rate of interest. Credit Unions offer their members the opportunity to have control over their own finances by making their own money (savings) work for them.