About Us

Our Story

The First members of Dunboyne & District Credit Union enrolled in 1970 operating from the Old School House. At the end of the first year 230 members had joined. Today membership stands at over 10,500.

A Credit Union is a financial co-operative owned and controlled by the members. It is run for the benefit of its members who are all connected through a ‘Common Bond’, an area from which Dunboyne and District Credit Union can accept members.

The Credit Union is operated by a Board of Directors who are elected by the members at each Annual General Meeting. The Board appoint a Manager 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 its members the opportunity to have control over their own finances by making their own money(savings) work for them.

The Credit Union Story

The modern Credit Union movement traces its origins to Germany and to Friedrich Willhelm Raiffeisen, the Mayor of a small town in southern Germany, who in 1849 formed societies, which later evolved in to Credit Unions. The purposes of these Credit Unions was to enable people to help themselves in relieving debt and poverty.

A Credit Union is a democratic, financial co-operative owned and controlled by its own members. Each Credit Union is run only to benefit its members, all of whom have something in common - the common bond.

The Credit Union movement was introduced into Ireland in 1958 by Nora Herilhy with the support of a number of other dedicated pioneers.

Since then, the Credit Union philosophy of mutual self-help has proved very popular, and there are now over 530 Credit Unions affiliated to the Irish league of Credit Unions throughout the country.

In Ireland over two million members have recognized the value of credit unions, and have savings approaching several billion euro with their credit unions. There are thousands employed in the sector and many more thousands are volunteers involved in the movement.