Lanesboro' Ballyleague Credit Union Limited products, services and reviews

About Lanesboro' Ballyleague Credit Union Limited

Lanesboro' Ballyleague Credit Union Limited is a member-owned financial cooperative serving the Lanesborough/Ballyleague common bond area in Ireland, with membership generally limited to individuals who live, work, or study within its defined locality. It offers core credit union services, primarily share-based savings and unsecured personal lending for purposes such as car purchase, home improvement, and education; pricing is set by the board within the statutory ceiling for Irish credit unions (maximum 1% per month interest, equivalent to 12.68% APR). Returns on members’ shares take the form of discretionary dividends and any loan interest rebates, which depend on annual performance and are not guaranteed. Eligible deposits are covered by the State’s Deposit Guarantee Scheme up to €100,000 per person per institution. The credit union is regulated by the Central Bank of Ireland under the Credit Union Act, with capital, liquidity, and governance requirements overseen by an elected volunteer board on a one‑member‑one‑vote basis. Service delivery centers on a local branch with a limited geographic footprint; opening hours and digital functionality may be narrower than those of commercial banks, and the range of payment services and ancillary products can be restricted. Fees are typically modest, but savings caps, withdrawal conditions, and standard identification checks may apply. Suitability hinges on eligibility for the common bond and the need for straightforward savings and community-based personal loans; customers requiring nationwide current accounts, advanced mobile features, or more complex products may need to use additional providers. Rates, limits, and features change over time, so verification with the credit union before applying is advisable.