About us

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Members

Our Story

With almost 34,000 members, Waterford Credit Union is the largest credit union in Waterford and one of the largest credit unions in Ireland. It all began in 1963 following an open meeting in City Hall on The Mall. With an initial membership of 10 people, business was conducted from rooms lent to the credit union by The Sisters of Charity in Lady Lane. By 1968 the growth of the Credit Union led to the purchase of its first premises at 22, Lady Lane.

Membership continued to grow steadily and the credit union purchased the site of the old Waterford City Arms Hotel, Parnell Street. The new purpose built office was officially opened by the then President of Ireland, Mary Robinson in 1992.

In the ensuing years, membership doubled necessitating a second office at Upper Grange. Waterford Credit Union purchased the green field site from the City Council to serve members of its common bond on the east side of the City. Upper Grange, another purpose built office, was officially opened by Nobel Peace Laureate and Irish League of Credit Union past president John Hume in 2002.

In December 2019, under a ToE (Transfer of Engagement) Tramore Credit Union was amalgamated into Waterford Credit Union thereby expanding our common bond area and membership.

Our Vision

Our Vision is to meet the evolving needs and expectations of our members, in a prudent and financially stable manner, whilst fully embedding the credit union within the communities we serve.

Our Locations

We operate from three conveniently located offices
across Waterford City and County.

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Waterford Credit Union Parnell Street

Parnell Street

1 Parnell Street, Waterford, X91 A993
Telephone: 051 861 600
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Upper Grange

Upper Grange, Waterford, X91 W276
Telephone: 051 861 600
Tramore Credit Union

Summerhill, Tramore

Summerhill, Tramore, X91 KD78
Telephone: 051 861 600

What exactly is a Credit Union?

A credit union is a group of people called members, who are connected by a ‘common bond’ based on the area they live, work or study in. Members save together and lend to each other at a fair and reasonable rate of interest. Interest charged on loans to members generates an income for the credit union. From this income, the credit union pays any operational expenses. Any remaining income is referred to as the credit union surplus and funds the dividend paid on members’ shares and/or is directed to improved or additional services for members.

Credit unions offer members the chance to have control over their own finances by making their own savings work for them. Every credit union is owned by its members (shareholders) — the people who save with it and borrow from it.

Credit unions exist only to serve members
- not to profit from their needs.

Surplus income generated is returned to the members by way of a dividend and/or is directed to improve and introduce new services for members. Members’ savings are used to fund loans to other credit-worthy members of the credit union. So, the money in a credit union always remains in the local community or ‘common bond’ that the credit union.

Join Waterford Credit Union today...