About Us
Muckamore Credit Union - for the Community
Founded in 1991 as a not-for-profit financial organisation. The Credit Union was formed by a group of local residents who felt that the time was right to offer savings schemes and low cost loans facilities to the local community.
The Credit Union Difference
Each credit union is an independent, ‘not-for-profit’ organisation that exists solely for the benefit of its members, not stock markets. Decisions are therefore made at a local level.
No matter how much you have saved, all members aged 18 or over, have equal voting rights on issues affecting their credit union.
Your savings contribute to your credit union’s loan fund. So your savings are helping other members. Members like you.
Muckamore Credit Union exists only to serve its members - not to profit from their needs. Surplus income generated is returned to members by way of a dividend and/or is directed to improved or additional services required by the members.
We offer members the chance to have control over their own finances by making their own savings work for them. Muckamore CU is owned by the members - the people who save and borrow with it - people like you.
When you become a member and start saving with Muckamore Credit Union you will have access to fair and reasonable rates on savings and loans.
Our Story
In 1991 the need for a credit union in the Muckamore and Antrim area was identified, initially a savings club was set up in Muckamore War Memorial Hall.
This savings club became authorised in 1992, and Muckamore Credit Union Ltd was formed.
We remained in Muckamore War Memorial Hall until 2019 when we moved into our current premises at 27 High Street, Antrim.
We are an affiliated member of the Ulster Federation of Credit Unions (UFCU).
We are regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA)
Members savings are also covered by the Financial Services Compensation Scheme (FSCS).
Rest assured your money is safe with us.
Regulators
In 2012 the responsibility of regulation of credit unions was transferred from the Register, here in Northern Ireland, to the Financial Services Authority. The FSA was divided into two departments Financial Conduct Authority (FCA) and Prudential Regulation Authority. (PRA) We have to abide by all the rules that they lay down and furnish them with regular financial reports so they can keep a check on the viability of our business.
Common Bond
The Common Bond of any Credit Union is the "link" that binds people together and enables them to apply for membership.
Credit Unions are co-operatives - this means that we are owned, managed and operated by the members working together in order to help each other.
Our common bond is anyone who resides or works within the boundaries of Antrim and Newtownabbey Borough Council and so are eligible to become a member of Muckamore Credit Union Limited.
