Credit Unions in the Banner County have certainly come a long way since 1966, when the first members joined the growing national movement in Clare, almost 60 years ago.
There are now four thriving Credit Unions serving the population and communities of County Clare; namely Derg, Ennistymon, Kilrush, and St. Francis Credit Unions. These institutions serve 72,000 members through a local network of 15 offices spread throughout the county.
A total of 80 friendly and professional staff are employed locally in Clare Credit Unions, with responsibility for combined assets of €426 million and a loan book value of €123 million. Over 11,000 members enjoy the benefits of borrowing from their local credit union. Credit Unions have always put their members first and offer an unrivalled customer experience. This is evidenced by the fact that for 10 years running, Credit Unions have been voted as the top organisation in offering the best customer experience in Ireland, according to the Customer Experience Insight (CXi) Report.
These are just some of the reasons why so many Clare people choose their local Credit Union for their financial needs.
What is the Credit Union Difference?
When it comes to choosing a financial institution, the decision often boils down to one crucial question: where will my money be most valued? While traditional banks and other financial institutions offer certain products, credit unions offer a distinct advantage that sets them apart. The “credit union difference” is more than just a tagline; it’s a philosophy rooted in community, personal service, and a commitment to the financial well-being of their members.
At their core, credit unions are not-for-profit organisations. Unlike banks, which are driven by the need to generate profits for shareholders, credit unions operate with a mission to serve their members. This fundamental difference allows credit unions to focus on offering a no-fees policy, flexibility, and very competitive interest rates on loans.
When you join a credit union, you’re not just a member; you’re a part-owner. This structure ensures that decisions are made with your best interests in mind, not the bottom line of a distant corporate entity.
One of the most compelling aspects of the credit union difference is the emphasis on locality. Credit unions are deeply embedded in the communities they serve, often established to meet the specific needs of local families and businesses. This local focus translates into a personalised approach that’s hard to replicate at larger, nationwide banks. For example, credit unions are more likely to understand and support the unique financial challenges of their members, offering tailored solutions that reflect the realities of the local economy. Every credit union is run independently, so each makes its own decisions at a local level.
The personal service offered by credit unions is another hallmark of the credit union difference. While larger financial institutions may rely heavily on automated systems and call centres, credit unions prioritise a strong personal touch. Members are often greeted by name and treated as individuals rather than account numbers. This personalised service fosters trust and long-term relationships, making members feel valued and understood. It’s not uncommon for credit union employees to take the time to provide financial education, helping members make informed decisions about their money.
Moreover, credit unions excel in giving back to their communities. Whether it’s sponsoring local events and community groups, supporting schools, or offering scholarships, credit unions reinvest in the areas they serve. This commitment to community development underscores the cooperative spirit that drives credit unions forward. When you bank with a credit union, you’re not just investing in your financial future; you’re also contributing to the betterment of your community.
In today’s fast-paced world, where many financial institutions prioritise profit over people, credit unions stand as a beacon of integrity and service. They offer a unique blend of financial advantages, local focus, and personal care that larger banks simply cannot match. For those seeking a financial institution that prioritises their needs and values, the choice is clear. The credit union difference isn’t just a slogan; it’s a reality.
About banking, it’s not just about transactions; it’s about building stronger communities and brighter financial futures for all.
The Future of Credit Unions
The future of credit unions lies in their ability to adapt while preserving their core values of community, member-focused service, and financial empowerment. As technology advances, credit unions are embracing digital transformation to meet evolving member expectations. They are offering seamless online banking, mobile apps, and innovative financial tools while maintaining the core ethos of the credit union with strong member engagement. Credit Unions provide the personal touch through a strong network of local branches, but they are also digital when you want it and human when you need it.
Their commitment to sustainability and social responsibility will continue to resonate with younger generations seeking ethical financial institutions. Collaboration among credit unions will foster shared growth, enabling them to compete with larger banks. By staying true to their mission and integrating modern solutions, credit unions will remain vital, trusted institutions in an ever-changing financial landscape.
Become a Member Today
To join a credit union, you need to hold what is known as the ‘common bond.’ In County Clare, the ‘common bond’ is the local area where members live or work. The ‘common bond’ is what enables members to know and trust one another. You can contact your local credit union if you are interested in joining to find out about their membership requirements. You can find details for your local Clare Credit Union at www.clarecreditunions.ie. Experience the difference for yourself and become a member today.
Clare Credit Unions would like to thank the people of Clare for their continuing support and for placing their trust in them.
