08 March-Carlow Credit Union

The Credit Union in Carlow town, Ireland is based in Credit Union House, Askea, Carlow. It is one of the largest community based credit unions in Ireland. Founded over 50 years ago it now has around 40,000 accounts and shares of over €55 million. John Hume winner of the Nobel Prize for peace officially opened the new Credit Union offices on the Staplestown Road when it moved there on September 11th 2004.

The first urban credit unions were founded in Germany in 1852. It was not until 1864 that the first rural credit union was founded by Friedrich Wilhelm Raiffeisen in Heddesdorf in western Germany. Credit union’s gradually spread to other countries and the first one was established in Ireland in Dublin in December 1953. The credit union movement spread quickly to all parts of Ireland. Today in Ireland over 2.9 million people are credit union members and have savings approaching €11.9 billion.

Ten years after the establishment the credit union in Dublin a credit union was established in Carlow town with 15 volunteers and a total fund of £15. The original credit union operated out of rooms in the C.Y.M.S (Catholic Young Men’s Society) hall on College Street. It later moved to a room in the Presentation Schools on Tullow Street. In 1966 a building on Burrin Street was purchased. The Credit Union in Carlow continued to grow and by the 1980’s the building on Burrin Street had been renovated and transformed to meet the growing demand for its services. It changed from a one room operation to a building with a large public office and several other offices.

The building on Burrin Street eventually became unsuitable to meet the needs of the community and the credit union moved to new purpose built offices on the Staplestown Road in 2004. On September 17th 2015 Carlow District Credit Union announced the completion of the transfer of engagement with Ballon & Rathoe Credit Union Ltd. The village of Ballon is located about 20km south of Carlow town. The new arrangement further expands the business of the credit union in Carlow and provides an enhanced service for the members in Ballon and Rathoe.

Carlow District Credit Union began business in the year 1963 On This Day.

Carlow Credit Union Headquarters.

 

 

 

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