Sandymount Credit Union opened for business on December 7, 1961 with an initial membership of 15 and share capital of £15 (€19.05). Membership has grown steadily since, with membership now standing at 4,700 and share capital of €18.4 Million. The first loan in 1961 was one of £5 (€6.35) whereas members’ loans now stand at €10.5 Million.
Important landmarks in our history
- 1961 Sandymount Credit Union founded
- 1965 Joined the Irish League of Credit Unions (ILCU)
- 1971 First premises purchased at no. 7 Bath Avenue
- 1981 Larger premises purchased at no. 13 Bath Avenue
- 1997 Major refurbishment at no. 13 Bath Avenue
- 1999 Interest Rates reduced to 9.4%
- 2003 Multi Loan Interest Rates introduced
Go to Loan Calculator
Management of the Credit Union
The Board of Directors, comprising 11, set down policy on behalf of the members on the operation of the Credit Union. The day to day operation is carried out by the Manager and staff of 3 (2 full-time and 1 part-time) with the support of 1 voluntary worker.
The Supervisory Committee, comprising 3, oversee the work of the Board and staff and ensure that they are operating within the rules and Credit Union Act, 1997. They send random letters to members requesting them to verify that the balances on our computer are in agreement with their own records and also carry out audit checks as laid down by ILCU guidelines.
Representatives of the Board are actively involved at chapter level and delegates are sent to the Annual General Meeting and any special meetings of the Irish League of Credit Unions. The manger represents the Credit Union on the board of the local Money Advice Bureau (MABS). We have a facility for MABS clients to join our membership.
Interested in joining Sandymount Credit Union?, please click here | 
08 September 2010
