Tel: (091) 844306 Fax: (091) 874118 Email:

About Us Control of Your Credit Union

The member as owner

Every person who saves in the credit union is an owner, and has a say in its running. Each member has one vote in the running of the credit union which can be exercised by attending the annual general meeting, where you have one vote, no matter how many or how few shares (savings) you have.
As one of the owners of the credit union, you have a right to know how it is being run, and how it is performing, and with this right comes the responsibility to contribute to the effective and fair running of the credit union.

The credit union board and committees

The board of a credit union meets within one week after the annual general meeting to elect a President (Chairman), Vice-President and Honorary Secretary. It also appoints committees to enable the work of the credit union proceed smoothly until the next general meeting of members. Only members are eligible for election to the board and committees.
The members also elect the Supervisory Committee, whose responsibility is to check the books of the credit union and evaluate its operation. By law this committee has rights of examination and supervision, which give the members added security ensuring that the operation of the credit union is effective and fully committed to the good of the members. The supervisors report to the members at the annual general meeting.

The key committee in the credit union is the credit committee, whose function is to ensure fair and equal treatment for all. The credit committee considers loan applications. Through experience this committee learns to understand the members and their problems, and will consider all applications most sympathetically and in the strictest confidence.

The board also appoints a loan officer or officers who will deal directly with loan applications up to certain limits agreed by the board from time to time. The board appoints other committees such as a credit control committee - to ensure that loans are repaid as promised - and may appoint committees such as a planning & development committee or education committee - to inform members and potential members about credit union membership and its benefits.

Other committees, such as a youth committee may be appointed from time to time as necessary.

Declaration of fidelity and secrecy

All members of the board and committees, as well as any staff members, sign a declaration of fidelity and secrecy concerning all credit union matters. This declaration ensures that all transactions are dealt with in absolute confidence.

Financial structure of the credit union

The funds necessary to make the credit union function are built up by the member's savings and loan repayments. As loans are repaid, the interest received accumulates, and the credit union will also generate funds through investing surplus funds. This surplus is used to pay the operating costs, to build up capital reserves, and the remainder is returned to members in the form of dividend. 

Find Us here:
  • Athenry Credit Union
  • Tel: (091) 844306
  • Fax: (091) 874118
  • Email:
  • Web:
Athenry Credit Union is regulated by the Central Bank of Ireland and our Reg Number is 71CU