Membership

Become a member

Joining the Credit Union is the best decision you could take for your money. Our Credit Union lets people in the community come together to save and borrow money at low rates. The Credit Union operates on a not-for-profit basis with surpluses being returned to members.

Why join?

Members can enjoy many benefits

  • Flexible and Convenient Loans
  • No hidden costs or fees
  • Quality Service
  • Lunch time & Saturday Opening
  • Online Account Access
  • Loan Protection and Life Savings Insurance at no direct cost to members

Who can join?

If you live or work within our common bond area or a member of your household or family works in this area we would be delighted to have you as a member. Similarly, any club or society that would like to open an account may do so if a majority of the club’s members would meet the common bond requirement.

We operate different types of membership:

  • Sole Membership – where the account is opened in one name
  • Joint Membership – where the account is opened in two names
  • Clubs – where the account is opened by at least two people on behalf of a club or society
  • Minors – where the account is opened for someone under the age of 16

What is a common bond?

A unique feature of credit unions is that members must have a common bond with each other – that is that the members live or work in a particular area or work for a particular employer.

For Ballybay Credit Union, our common bond extends to members who live or work in the locality.  Check out our Common Bond Townlands link to see if you qualify.

If a member ceases to hold the common bond i.e. they move outside the area or leave their job, they may continue to be a member

How to join?

Joining couldn’t be easier. Simply call into our office – you don’t need an appointment and we will help you to complete your application form.

However, under the Criminal Justice Act, we are required to ask all new members for the following documentation to open the account.

Proof of Identity

  • Valid passport
  • Current Irish or UK driving licence
  • National Age Card
  • ML10 Form completed by An Garda Siochana
  • Birth Certificate (Under 18’s only)

Proof of Address

  • Current utility bill* such as gas, electricity or telephone
  • Bank or Credit Card Statement*
  • Current car or home insurance policy
  • Revenue or Department of Social Protection documentation* showing name, address & PPSN
  • Current Irish or UK driving licence (if not already used as proof of identity)

* Must be dated within the last three months.

PPSN

  • Medical Card
  • Drugs payment scheme card
  • Any other documentation issued by Revenue or Department of Social Protection (if not already used as proof of address)
  • Payslip
  • P60

The above lists are not exhaustive. Please contact us if you have trouble providing any of these documents and we will be happy to find an alternative.

Fees

There is a once off membership fee of €1.27 payable on the date of joining the Credit Union. In addition, there is an annual affiliation fee of €0.95 which will be deducted from your account in December.

To retain membership, you must maintain a minimum balance of €6.35 or else the account may be closed.

Death Benefit Insurance

Death Benefit Insurance is an additional benefit of being a member with Ballybay Credit Union. The main purpose of this insurance is to provide a basic life cover and assist the family of a deceased member with the funeral expenses. There is no direct cost to the member for this insurance and the benefit payable is €1,000.

To be eligible, you

  • Must have joined the Credit Union before the age of 70;
  • Be or have been working or in good health at some stage during your membership; and
  • Have a minimum of €100 in your Shares at time of death

Nominations

A nomination is a written statement nominating a person or persons who will become entitled to the proceeds of your account at your death up to a maximum of €23,000. If there is more than €23,000 in your account, this will become distributable under the normal inheritance laws.

To make a nomination you must be over 16. You may change or cancel your nomination at any time. A nomination will also be automatically revoked if you subsequently get married or if the nominated person dies before you. The nominated person will only be contacted by the Credit Union following your death.

It is a quick and convenient way to pass on your property without the waiting time or cost of probate or inheritance tax.

Become a credit union member

Latest News

Latest News

Notice of Annual General Meeting 2016

December 16th, 2016

Christmas Opening Hours 2016

December 16th, 2016

CU Online Essential Maintenance

July 30th, 2016 Click here to read more news ››

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Ballybay Credit Union Ltd is regulated by the Central Bank of Ireland