How to Join

Membership of the Credit Union

Joining the credit union is easy. You may become a member of Caherdavin & District Credit union if you are living or working within our common bond area.

There is a nominal entrance fee of € 1.27 and you may start by purchasing shares in the credit union (€10.00). You should then continue to save regularly, even in small amounts, which will create the habit of saving and add to the savings pool.

Every person who saves in the credit union is an owner, and has a say in its running. Each member has one vote, because as a democratic financial co-operative, the credit union is controlled by its members.

What is the common bond & why is it so important?

The common bond is the factor which unites the members of a credit union – it is what members have in common. Because of the common bond, all members have the good of their community at heart, they know and trust each other.

The common bond ensures that the savings of the members of the community are available to fellow members as loans. It also enables members to know each other and to make credit judgements on character and personal record rather than on commercial risk.

In Ireland the most common bonds are:

  • Community bond – where all the members live, and in some cases work, in the locality.
  • Occupational bond – where all the members are in the same profession or workplace
Opening an Account

Joining Caherdavin & District Credit Union is easy once you are in the common bond and have the relevant documentation.

In line with current legislation – Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended – you must provide the following information:

  1. Evidence of Identification – One of the following is required
    • Current Valid Passport
    • Current Valid Driver’s Licence
    • Exceptions – ML 10 Form with Birth Cert, GNIB Card
  2. Evidence of Address Verification (dated within last 6 months) – One of the following is required
    • Original Utility Bill
    • Original Bank/Building Society Statement
    • Social Welfare/Revenue correspondence
    • Exceptions – Hospital appointment, posted insurance certificate
  3. Evidence of PPS Number (Under the Taxes Consolidation Act 1997 we require proof of PPSN) – One of the following is required
    • Old Social Services Card (not Public Services Card)
    • Social Welfare/Revenue correspondence
    • European Health Insurance Card
    • Official Payslips / Pension Book / P60 / P45

 

Under 16 years

If anyone under 16 years wishes to apply for membership

  • Birth Certificate or Passport for child
  • Official Evidence of PPS Number
  • Proof of child’s address is required in the form of parents Proof of Address.
  • Valid Evidence of Identification, Evidence of Address and Proof of PPS Number are required for parent.

Schedule a call back from our loans team and we’ll get in touch with you.

We have loans for all the little and big things in life.