Our Credit Union
Phibsboro and District Credit Union is situated in the heart of Dublin City. It was established in 1967 and had it first Annual General Meeting in Mooneys Bohemian Pub, on the 12th June 1967.
The second AGM was held on the 19th February 1968, at which we were honoured by the presence of Miss Nora Herlihy, a local resident from the Shandon area of Phibsboro and the foundress of Credit Unionism in Ireland, whom later accepted the invitation to become the honorary life member of our Board of Directors.
Our first permanent office, No. 6 Geraldine Street was purchased in April 1969. Our present headquarters at
392 North Circular Road, was purchased in 1982 and was opened in October 1983. In 1998 the adjoining house 390 became available and was purchased by the Board of Directors. The office as it stands today was opened in January 2005 after substantial renovations.
Our membership has increased from 1028 members when we left Geraldine Street to our present membership of 4168.
We have 9 members on the Board of Directors, 3 Supervisors, 5 Volunteers and 8 members of staff.
The Credit Union Mission Statement
The Mission of the Credit Union is to promote the financial well being of its members. To achieve this purpose the Credit Union is committed to providing a broad range of innovative financial products supported by the excellent service of a dedicated, well-staff. These programs will be administered in accordance with sound management practices to maintain the financial strength of the Credit union. The Board of Directors, Management and Staff of the Credit Union hereby affirm that the efforts of the Credit Union will be consistently and professionally dedicated to the accomplishment of this mission....
The Credit Union Story
The modern Credit Union movement traces its origins to Germany and to Friedrich Willhelm Raiffeisen, the Mayor of a small town in southern Germany, who in 1849 formed societies, which later evolved in to Credit Unions. The purposes of these Credit Unions was to enable people to help themselves in relieving debt and poverty.
A Credit Union is a democratic, financial co-operative owned and controlled by its own members. Each Credit Union is run only to benefit its members, all of whom have something in common - the common bond.
The Credit Union movement was introduced into Ireland in 1958 by Nora Herilhy with the support of a number of other dedicated pioneers.
Since then, the Credit Union philosophy of mutual self-help has proved very popular, and there are now over 530 Credit Unions affiliated to the Irish league of Credit Unions throughout the country.
In Ireland over two million members have recognized the value of credit unions, and have savings approaching several billion euro with their credit unions. There are thousands employed in the sector and many more thousands are volunteers involved in the movement.