Latest News

27 Feb 2024

Our new website is live!

We are delighted to announce the launch of our new website. We hope you like the new look and feel.

03 Feb 2023

SMS Phishing Scam - Alert for CU Members

“We've been made aware of a scam text, purporting to be from 'Credit Union', claiming that accounts have been 'placed on hold' and asking the recipient to click a link (to a cloned credit union website) to verify their account.

Savings

Save with your Credit Union

We all know the merits of saving money, either for something specific or for that "rainy day". The big difference between your credit union and any other savings account is that members own the credit union.

Regular saving is a good idea. Regular saving with your credit union is an even better idea.

Benefits of Credit Union savings

  • Savings balances over and above any loan you may have are available to you to withdraw on demand.
  • Attractive dividend for savings available on demand.
  • Free life cover on saving up to £10,000. (subject to terms and condition)
  • A savings protection scheme is in place up to the value of member shares held.
  • There are no transaction charges or fees.

When you save with us you are also building a history which will be taken into account in the future should you wish to apply for a loan. If we accrue a surplus, the credit union may declare a dividend following the end of the financial year.

If so, you will get a return on each share you hold. In the meantime, the money you’re saving is being used to provide loans to your fellow members. You can withdraw money whenever you want - provided the money is not pledged as security on a loan and subject to credit union rules.

Security

Credit union members can rest easy in the assurance that their savings are safe. Banbridge Credit Union is affiliated to the Irish League of Credit Unions, are secured in several ways:

  • All officials of credit unions, whether volunteers or staff, must be fidelity bonded.
  • Members savings within certain limits are insured through Life Savings Insurance.
  • All monies received in the credit union are properly recorded and lodged regularly.
  • Full financial statements are prepared and can be examined by members.
  • Banbridge Credit Union Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
  • Members of Banbridge Credit Union Ltd are covered by the Financial Services Compensation Scheme and members’ deposits are protected up to the value of £85,000