Banbridge Credit Union will be unaffected by Dromore closure

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Banbridge Credit Union has reassured members that it is unaffected by the closure of the Lower Iveagh branch in Dromore.

Set up in 1995 and operating out of Dromore Orange Hall, Lower Iveagh Credit Union Ltd reportedly holds savings of around £400,000; it wound up on Wednesday November 19, the Financial Services Compensation Scheme stepping in to protect its 440-or-so members.

Though not associated with the Lower Iveagh Credit Union, Banbridge Credit Union nevertheless reported receiving a number of calls from concerned members of the public when news broke of the Dromore company’s demise.

Seana Lennon, Manager at Banbridge Credit Union Ltd. said: “The credit union has been operating in this community for 46 years and we value all of our loyal members.

“We are delighted to see the familiar faces coming in through the doors and welcome all of your new members who have joined us in the past year.

“The credit union is here to help members get control over their finances, to advise and help them save and borrow responsibly.

“Many people are not aware of the benefits of being a member of their local credit union so we are welcoming everyone to call into our offices and speak to a member of staff who will be happy to talk to you.”

“We are community owned and run financial service co-operative that helps people in their daily lives, whether it be regular savings or a small personal loan.

“As many people in the country feel the pressure of increased bills and living expenses, it is important that they have alternatives to the high cost services of moneylenders.

“We want our members to know that we will put them first at all times and will continue to provide these local, accessible services well into the future. Banbridge Credit Union will continue to serve its members well into the future with low cost loan products and a secure place to save for members.”