Frequently Asked Questions

FAQ’s

Our FAQ’s section contains information which may prove useful to new and existing members of Athlone Credit Union.

Who can join a credit union?

Once you satisfy the common bond criteria anyone can join a credit union. Click here for more info on how to join.

What is a Common Bond?

The common bond is the factor which unites the members of the credit union – it is what members have in common. Because of the common bond, all members have the good of their community at heart; they know and trust each other.

Can I become a member of more than one credit union?

Yes, once you satisfy the common bond, whether that be within a community (geographical), or industrial (employment), you can have multiple credit union membership. So ,that means you can have a local credit union account where you live and a credit union account through your work (where available).

Why is borrowing from your credit union important?

Unlike banks we do not charge for transactions, or anything else. Therefore the interest on the loans is the main income for the credit union. Without this income we cannot operate or pay a dividend on savings. Since you own the credit union it is vital that you support it by borrowing.

What are the benefits of Athlone Credit Union members?

Membership of Athlone Credit Union is membership of a community owned co-operative – in your community. Athlone Credit Union offers members a range of services and products including competitive loan rates, electronic money transfer inwards, online viewing, free savings protection & *loan protection, and more.

Who owns a credit union?

Members own it. Every member has an equal vote in how the credit union is run, and can exercise this vote at the credit union AGM. Members elect a Board of Directors, also members, to oversee the running of the credit union.

Can I become involved in Athlone Credit Union?

Yes, you can. Athlone Credit Union welcomes member involvement. Make your voice heard at the AGM or offer to volunteer on weekly basis or even go for election to the Board of Directors.

Why is it important to save regularly?

The habit of saving is something that Athlone Credit Union highly recommends. We offer members the facility of lodging a regular standing order directly from your bank if you are unable to call in during opening hours. Regular savings can also help to show ability to repay loans and make it easier to get that loan you are considering.