Introduction to Swords & District Credit Union

Swords & District Credit Union Limited is a democratic financial co-operative owned and controlled by its members. A Credit Union is a group of people who save together and lend to each other at a fair and reasonable rate of interest. Credit Unions offer members the chance to have control over their own finances by making their own savings work for them. Every Credit Union is owned by the members — the people who save and borrow with it. All Swords & District Union Ltd members have something in common (the common bond) and every member, no matter how much savings they have in the Credit Union, has equal voting rights in the running of Swords & District Union Ltd.

In early April 1970 at the invitation of Rev. Martin Tierney C.C. a group of people came together in the Youth centre, Swords and at the meeting decided to explore the possibility of forming a Credit Union. After careful study of the rules, a saving group was formed and on the 10th November 1970 the Organisation Meeting was held. The launching of Swords and District Credit Union Ltd was hailed with great enthusiasm by the people of the district. It has gone from strength to strength acquiring its first office at 27 North Street in January 1976 and moving to Castle Villa, North Street in 1993 and the to our current building in April 2008. The Board of Directors of Swords & District Credit Union hopes that we will continue to meet the ever changing needs of our members and provide them with a wider range of financial services well into the future.

The Credit Union illustrates better than any other organisation how members of a community can help each other in a very practical way. The savings invested in the Credit Union stay in the community and the money loaned out helps advance the welfare of the community and raise the standard of living.

Our Vision is that SCU as a dedicated team will Endeavour to continue to provide our Community with a financially stable proactive environment to conduct their business. We will remain member focused, friendly, loyal and professional in all our dealings with our members

What makes YOUR Credit Union different:

OUR Credit Union works in co-operation with the local community.

• OUR Credit Union aims to make the lives of members, our families and our communities better, by gaining financial independence through access to financial services products
• OUR membership is limited to our common bond;
• OUR governance is based on one member, one vote;
• OUR Credit Union is a ‘not-for-profit’ financial co-operative – we have no vested interest other than serving our members.
• Swords & District Credit Union operate in cautious manner, maintaining a Statutory reserve in addition to a general reserve and a provision for bad doubtful debts.
• Swords & District Credit Union has no exposure to wholesale markets, as would be the case with some banks. All loans to members are funded from member savings.

Member Communications

 It is the policy of Swords & District Union Ltd to provide all of our members with timely, accurate, clear, objective and complete information about our policies, products, services and initiatives. Swords & District Union Ltd uses a variety of methods to communicate to ensure that we accommodate the diverse needs of our members. Our typical methods of communication range from in office, person to person communications, the telephone and mail to the internet and World Wide Web as well as print publications. Account statements are issued to members on an annual basis .Swords & District Union Ltd newsletter SCU News is also issued on a regular basis. From time to time additional inserts may accompany statements and we would encourage members to ensure they review all communications sent to them. An Annual General Meeting (AGM) takes place each year, usually in December, which all members are encouraged to attend. Members will receive notification of the meeting, together with relevant documents including our Annual Report, at a minimum of seven days in advance of the AGM.

It is important to make sure that your finances are in a healthy state and to ensure that you are covered financially for each stage of your life. We recommend that members carry out a financial health check at a minimum of once each year to monitor their financial goals and progress. A financial health check will help to identify any areas where you may need financial or protection cover. While you can do most of the work yourself, by keeping good records, arranging for a consultation with a professional will ensure that you are offered appropriate solutions to any issue identified.

No matter what your income, it’s easier than you think to take control of your money. The important thing is to get started and regularly check your finances.

The staff of Swords CU are committed to serving the members and some of our staff are Qualified Financial Advisors. The QFA Diploma is a joint venture between LIA, The Insurance Institute of Ireland and The Institute of Bankers in Ireland, the QFA course leads to the designation Qualified Financial Advisor level 7 on the National Framework .

The staff are committed to achieve our 3 P’s when dealing with our members

Personal Touch

Positive Experience

Professional service

Have a look around Swords And District Credit Union