General

• •Click here for our branch and opening hour details
• Outside of these hours, you can email info@kilmallockcu.ie.
• You can also contact us using the Facebook Messenger chat button at the bottom.
• From time to time these hours may change slightly to allow for staff training, bank holidays, or extenuating circumstances. If you are unsure if a branch may be open on a certain date, you can check the news section of our website.

Please click here for information about our Nominations service

Members savings which are not borrowed by other members are invested in the financial markets to earn a return. Financial institutions currently have excess deposits so that some of them are charging credit unions to hold their funds. This is referred to as negative interest. The central bank also require that we maintain regulatory reserves of 10% of total assets. This means that for every €100,000 of savings, we must allocate €10,000 from our surplus into a regulatory reserve. In times of uncertainty (such as we are now experiencing with Covid-19) members tend to save more and borrow less. This has resulted in an increasing gap between our loans and savings. Because of the low interest environment and the increased level of savings, we made the difficult decision to impose a savings cap.

Yes, you can. We welcome member involvement. Make your voice heard at the AGM or run for election to the Board of Directors. If you are interested in getting involved as a volunteer with Kilmallock Credit Union, please contact our office.

Credit Unions in the Republic of Ireland are covered by the Deposit Guarantee Scheme which is administered by the Central Bank of Ireland.

This is a scheme that can provide compensation to depositors if a credit institution is forced to go out of business. It covers deposits held with banks, building societies and credit unions. The maximum amount a credit union member can receive under this scheme is €100,000.