About Us

Providing safe, secure and accessible financial services, for the whole community. Where members matter most.

Our Commitment

We're committed to the following for the benefit of our members.

Maintaining the ethos, value and growth of KRD Credit Union Ltd.

Ensuring the financial security and soundness of the Credit Union

Developing and broadening the range and quality of services to you our members

Developing, maintaining and constantly upgrading and improving offices and equipment to service our members

Developing Credit Union personnel through training to direct, manage and control the Credit Union in accordance with best practice

Working in partnership with other community based organisations to improve the quality of life for all within our common bond

What is a CU?

A credit union is a group of people who save together and lend to each other at a fair and reasonable rate of interest. Credit unions offer members the chance to have control over their own finances by making their own savings work for them. Every credit union is owned by the members; the people who save and borrow with it; people like you. When you become a member and start saving with your credit union you will have access to fair and reasonable rates on savings and loans together with a whole host of other benefits.

The Story So Far

In April 2024, KRD Credit Union celebrated being 60 years in operation.  From humble beginnings in the home of one of our founding members in March 1964, the credit union now operates from three offices, combined with an extensive online platform.  From 100 members at the end of our first year in operation to 13,920 members and 2,185 junior accounts at the end of the 60th financial year.  Share capital too has accelerated from approximately £1500 at the end of the first year to £32.5m at the end of the 60th financial year.  What has not changed however is our central ethos.  At the first public meeting of the credit union on 8th April 1964, the Guest Speaker, John Hume, explained that a credit union is the coming together of a group of people with a common bond to pool their savings and give loans at a reasonable rate of interest, with all profits pooled and paid out to shareholders as dividend.  We remain steadfast in the pursuit of this aim. 

The CU Difference

Credit unions are financial co-operatives formed to allow members to save and lend to each other at fair and reasonable rates of interest.

  • There is also a wide-range of insurance services for members.
  • The Credit Union also works in co-operation with the local community.
  • Additional lump sum repayments to loans are accepted with no penalty.
  • Flexibility -you can repay a credit union loan earlier or make larger repayments than agreed with no penalty.
  • Savings are insured at no direct cost to the eligible member.
  • Loans are insured at no direct cost to the eligible member.
  • Credit unions are owned by all their members. One Member One Vote.
  • Every Credit Union is a 'not-for-profit' financial co-operative.
  • Surplus income generated is returned to the members as a dividend to savers and interest-rebate to borrowers or it may be directed to improved or additional services for members.
  • Membership of a Credit Union is open to people who have, in relation to all other members, a unique 'common bond'.
  • There are no transaction charges on loans or saving accounts.

International Work

As Irish credit unions have progressed since their establishment in 1958, they have also begun to play a growing role in fighting poverty in some of the most deprived and needy places in the world. by expanding the credit union self-help concept and supporting young credit unions and credit union start-ups and developments in places like Ethiopia, The Gambia, Sri Lanka, Peru, Kenya, Malawi, Guatemala, Nigeria, The Caribbean, Albania and even Russia.

Currently Irish credit unions are sending over £1m a year overseas in support of deprived local communities through the ILCU Foundation; Irish micro-finance at work overseas!