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Are My Savings Secure?

Safe, Strong, Secure


Swords & District Credit Union

One of Ireland’s Strongest Credit Unions

The Minister for Finance recently announced that a fund of up to €1 billion euro is available to support those Credit Unions that are in financial difficulty. We estimate that less than 10% of Credit Unions in Ireland are in immediate need of financial support.

Swords & District Credit Union is one of the strongest Credit Unions in Ireland in terms of success, liquidity, solvency and security, and will not need any State support.

  • 41 Years in Business
  • Active Membership 15,000
  • Total Assets €46 million
  • Total Reserves €8 million
  • Total Liquidity €6 million (40%)
  • Total Solvency  116%

 

Recent articles in newspapers relating to Newbridge Credit Union having a “special Manger “ appointed has no bearing on the performance of your Credit Union.  Swords & District Credit Union is Financially Independent of other Credit Unions, has sound finances, and YOUR MONEY IS SAFE IN OUR HANDS. We have a professional team managing your Credit Union and some of our staff who are Qualified Financial Advisors.

 

 Swords & District Credit Union is fully compliant with all the regulatory requirements relating to reserves and investments and this has been confirmed by recent audits conducted on behalf of the Central Bank of Ireland.

 

 Swords and District Credit Union remains a strong, secure financial co-operative which continues to use the funds from member savings they have built up in a co-operative manner in the best interests of all members. Swords and District Credit Union is well positioned to continue to provide for member saving and loan requirements in a safe and secure way.

 

Members can take comfort in remembering that individual member savings of up to €100,000 in your credit union are guaranteed by the Deposit Guarantee Scheme operated by the Central Bank of Ireland.

The success of your Credit Union over the past 40 years has ensured that it continues to be well placed to provide for your financial needs in these challenging times in a professional, compassionate and confidential way. We will continue to keep our members informed of any credit union industry concerns and we continue to remind our members that we are confident that Swords and District Credit Union along with other progressive, professional credit unions in Ireland are well placed to ensure the safety of member savings.

If you have any concerns or worries about any aspect of the Credit Union please feel free to contact our Manager or any staff member.

 

Swords & District Credit Union Ltd Facts:

  • We are not one of the Credit Unions in difficulty – as mentioned recently in the media
  • Savings are guaranteed by the Government Guarantee Scheme – operated by the Central Bank of Ireland
  • Assets of €46 million
  • Strong Solvency – Strong Liquidity
  • Total reserves of  €8 million
  • Members savings of €40 million
  • We are Financially independent from other Credit Unions
  • We continue to pay a dividend
  • Our staff are experienced and qualified and available to answer any concerns you may have
  • We are open for business and actively lending to our members