Clonard Credit Union opens sixth branch
CLONARD Credit Union (CCU) has launched its new Holywood branch, growing its portfolio to six branches.
Ruth Clarke, chief executive of CCU Credit Union, said the organisation now has over 22,000 members.
The new Holywood branch at Church View in the town centre was formerly occupied by the Holywood Credit Union.
Ms Clarke said its former employees were now employed by C cu, and that there would also be new jobs.
She added: “We are here to serve the people of Holywood and the surrounding area, including everyone living and working in postcodes BT18, BT19, 20, 21, 22 and 23.
“The opening of our new branch in Holywood is a statement of our popularity and our continued growth, and is a positive development in the midst of the severe economic downturn caused by the Covid-19 pandemic.”
CCU’S full banking service includes an online banking app, online loan applications, debit card, online money transfer and direct debit facilities, foreign exchange, free loan protection insurance, free life savings insurance and free £2,000 death benefit insurance.
It is the only credit union in Ireland to have its own debit card.
All members of the former Holywood Credit Union will automatically transfer over and become members of CCU Credit Union.
Ms Clarke said: “Our aims are to promote thrift among members by the accumulation of their savings and provide loans for the benefit of members at a fair and reasonable rate of interest. In the last financial year we issued loans totalling £11.26m to our members.”
The new branch was opened by Trevor Cummings, Mayor of Ards and North Down.
The first CCU branch was opened in Clonard in west Belfast in 1964. It now has six branches in total, including four in Belfast, one in Bangor and the latest addition in Co Down. Credit unions are not-for profit financial co-operatives owned and operated by members.