Membership
Join us today!
Joining the Credit Union is the best decision you could take for your money.
Our Credit Union lets people in the community come together to save and borrow money at low rates, and is operated on a not-for-profit basis, with surpluses being used to strengthen the Credit Union and a portion being returned directly to members.
Why Join?
Members of our credit union enjoy many benefits, including:
- Minimal fees – Convenience – Community Benefits
- We have no hidden administration or transaction fees
- Local branch office for face to face meetings
- We are a not-for-profit democratic financial cooperative owned by our members. Every member over 16 has a vote at the credit union AGM.
- Any surplus income is used to develop new and existing services or it is distributed among members in the form of dividends to savers or interest rebates to borrowers.
- Loans and savings are insured at no direct cost to an eligible member. Loans are insured by the credit union’s own policy at no direct cost to members. This is designed to pay off a loan in the event of a borrower’s death – subject to terms, conditions and eligibility criteria.
- We offer flexibility regarding loan repayments – a loan can be paid back earlier without any penalties or it can be restructured if there is a change in a borrower’s circumstances.
- We are committed to our local community and provide support to local youth initiatives, charities, sporting clubs and cultural events.
- “Nomination” of accounts. This is a unique facility for credit union members. We have a nomination facility whereby members over 16 years of age can nominate who is to receive the property of their accounts with the credit union upon death. Having a nomination means that your property left in the credit union (up to a certain maximum figure) will not have to pass through the sometimes timely probate or intestacy process.
Do I Qualify for Membership?
Thomastown Credit Union is a democratic, financial co-operative which is owned and controlled by its members. The credit union is run only to benefit its members, all of whom have one thing in common - the Common Bond. The common bond is the factor that unites every credit union member. The common bond for Thomastown Credit Union is the Community Bond - where all members of Thomastown Credit Union live or work within the parishes of:
Thomastown / Ballyhale / Inistioge / Stoneyford / Knocktopher / Bennettsbridge / Dungarvan
Opening An Account?
To become a member you will need to fill in the necessary Membership Application Form, which you can download by clicking on one of the links and bring it with you to credit union office along with following documents:
Adult
- Current Photo ID i.e. Passport or Driving Licence
- Utility Bill or Bank Statement Dated within 6 months of application
- Proof of PPS Number
Child
- Birth Certificate
- Proof of PPS Number
- Utility Bill dated within 6 months of application (from parent or guardian)
Our Credit Union lets people in the community come together to save and borrow money at low rates, and is operated on a not-for-profit basis, with the surplus returned to members.
Note: Please be aware that Business funds cannot be facilitated through personal accounts. The Credit Union has Business Accounts to facilitate your Business Income. So if you are in Business or are Self Employed and wish to put your Business funds into the Credit Union - please select Business for purpose.
Benefits of Membership
Membership has many benefits...
Flexible & Convenient Loans
Members can take out flexible loans, and repay at tailor-made schedules. All our loans are fully insured (at no extra cost to you).
Insurance on Savings
We pay into our Life Insurance scheme, offering a free insurance system on your savings.
Quality Service, Minimal Fees
You can be assured of a professional service from Credit Union at all times. And you do will only pay minimal fees for saving with us, or borrowing money.
Pay by Standing Order
Arrange a Standing Order payment from your bank and be sure of regular payments to your Credit Union account. We will send you a statement showing all transactions.
Member Services
Take advantage of a host of additional member services available. We have arranged special house and motor insurance discounts for our members. See our Available Services page for more details. Ask any staff member for more details about joining the Credit Union, or for further information see the different sections of this web site.
Security of Savings
- The Government Deposit Guarantee Scheme covers each individual member's savings up to the value of €100,000.
- Credit union members can rest easy in the assurance that their savings are safe. Credit Unions in Ireland, which are affiliated to the Irish League of Credit Unions, are secured in several ways:
- All officials of this credit union, whether volunteers or staff, are fidelity bonded.
- Members savings within certain limits are insured through Life Savings Insurance.
- All monies received in the credit union are properly recorded and lodged regularly.
- Full financial statements are prepared and can be examined by members.
- Annual independently audited returns are lodged with the relevant authority, The Central Bank of Ireland.
- In addition to this, the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions is also available to pro-actively intervene to protect members' savings by making available financial assistance to help any credit union which may experience difficulties.
