Rowlagh Credit Union Ltd 3.01

Rowlagh Credit Union commenced operations in February 1984 following 18 months of study by members.
They recognised the benefits a credit union could bring to the community.
A group of 20 formed the study group and the Irish League of Credit Unions (ILCU) was contacted to assist in our learning process.
Many nights were spent going over the ethos, philosophy and operating principles of the credit union movement. The rules for credit unions and the relevant Government legislation, the Credit Union Act (1966) were also debated in great detail.
Thanks are also due to the surrounding credit unions for allowing us the opportunity to visit them and see them in operation.
This included not only the 'counter work' but also board and committee meetings. This helped us to develop our own bylaws, which covered our common bond, loan policy and general rules of operation.
From this group of 20 a board of 11 were elected, as also were our 3 supervisors.
Thanks to the generosity of the local parish priest, and likewise numerous other credit unions, we commenced operating from a room in the local church on one night per week. Services offered to our members at this time were savings and loans.
We have grown a little bit since we first started.
In 1987, following months of discussions with the various bodies we moved into our own premises, literally a stone throw away from the church.
Two years later in 1989 we changed over from a manual system of recording all transactions to computerisation.
This gave the Directors an opportunity to investigate additional services to offer our members