Monasterevan Credit Union Limited products, services and reviews

About Monasterevan Credit Union Limited

Monasterevan Credit Union Limited is a member-owned financial cooperative operating under the Credit Union Act 1997 (as amended) and supervised by the Central Bank of Ireland. Membership is limited to people (and certain groups) with a qualifying connection to its common bond, typically those who live, work, or study in the Monasterevan area and nearby communities. Core services focus on savings and lending: members hold shares (savings) that may pay a dividend or interest depending on annual results, and they can apply for personal loans across various terms, with approvals based on affordability, repayment capacity, and credit history, and subject to regulatory limits. Eligible deposits are protected by the Irish Deposit Guarantee Scheme up to €100,000 per member per institution. Governance is through an elected volunteer board and a board oversight committee, with one-member-one-vote at the AGM and audited financial statements published annually. Access is primarily branch-based, with phone and, where available, online services; standard identification, address verification, and income documentation are required for account opening and credit applications. Fees, interest rates, loan sizes, and any savings or withdrawal limits are set locally and can change; dividends are not guaranteed and access to savings can be restricted if prudential measures are applied. Compared with full-service banks, the product range is narrower and international banking services are limited; prospective members should review the latest published information on services, eligibility, and rates before proceeding.