Carnglen Credit Union Ltd was established in 1977 with the amalgamation of Maghera Credit Union and Glenshane Credit Union.
Owned by its members, Carnglen Credit Union is a group of people who save together and lend to each other at a fair and reasonable rate of interest.
Carnglen Credit Union is a local, not for profit financial organisation specialising in providing a safe place for savings and loans in our community. We offer members the chance to have control over their own finances by making their savings work for them.
Credit unions exist only to serve their members- not to profit from them.
Any profit or extra income generated is returned to the members by a dividend and /or is directed to improve services or provide additional services required by the members.
Why not become a member today – Please call in, ring us or click here.
WHAT IS The Credit Union Difference
- Each credit union is an independent, ‘not-for-profit’ organisation that exists solely for the benefit of its members, not stock markets. Decisions are therefore made at a local level.
- No matter how much you have saved, all members aged 16 or over, have equal voting rights on issues affecting their credit union.
- We offer members the chance to have control over their own finances by making their own savings work for them. Carnglen 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 Carnglen Credit Union you will have access to fair and reasonable rates on savings and loans.
- Your savings contribute to your credit union’s loan fund. So your savings are helping other members. Members like you.
- Carnglen Credit Union exists only to serve its members — not to profit from their needs. Surplus income generated is returned to members by way of a dividend and/or is directed to improved or additional services required by the members.
What Services Does Our Credit Union Offer?
We provide important financial services to our local community in a variety of ways.
We provide various loan types such as personal loans and car loans to our members. All profits are used to fund loans for other members.
Most of our members choose to save with our credit union through means such as a monthly direct debit.
We offer supporting services such as insurance to our members.
Our members are entitled to nominate a person to receive their savings in the event of their death. This is done at no extra cost to the member.