Apply For Membership

"It could be one of the best decisions you ever make! "

Opening An Account?

Joining the Credit Union is the best decision you could take for your money.

Our Credit Union lets people in the community come together to save and borrow money at low rates and is operated on a not-for-profit basis with surpluses being returned to members.

Do You Qualify for Membership?

To qualify for membership with Derry Credit Union, you must:

• be age 16 years or older; and
• live or work within our common bond* or be a family member of and reside in the same household as a directly qualifying member; and
• have a proposer and seconder -- two members of Derry Credit Union Limited who know you and who will vouch for your good character; and
• be able to produce the two forms of identification all financial institutions now require before opening new accounts: one photographic form of identification and another, separate form, showing your current, permanent address.

New Rule on Proposers and Seconders

As of June, 2006, the Directors of Derry Credit Union Limited and Membership Officer now require that Proposers and Seconders be members of Derry Credit Union for a minimum of 12 months (1 Year) before becoming Proposers or Seconders of new members.  Please ensure that your Proposer and Seconder meet this requirement before sending in your completed Membership Application Form.

*Derry Credit Union Limited’s Common Bond

A credit union’s field of membership is governed by its common bond -- the thread that unites all the members.  Our common bond is geographical.  Anyone who lives or works within our common bond qualifies for membership as does that person’s family members who reside in the same household as the directly qualifying member.  Our common bond includes all of the City Side up to the Donegal boarder and that portion of the Waterside that was included in the old city boundaries.  If you are not certain whether you qualify, ring us with your address or visit our office where we can do a quick check for you.

To Join our Credit Union, fill in the Form below!

When we receive your request for an application form, we will post one to you.  Once we have received back your completed application form and established that you qualify for membership, we will invite you and your proposer or seconder to our next New Members Meeting (meetings are held nearly every month).  At the New Members Meeting, you will be asked to present your two forms of identification (please see above), hear a fifteen minute presentation about credit unions, and be asked to pay your £1 joining fee and lodge your first £5 in shares.  Then you can begin to enjoy the benefits of credit union membership!

Benefits of Membership

Membership has many benefits...

Flexible & Convenient Loans
We impose no set period before which you can borrow.  Each member’s account is unique and our loan officers will look at your savings record, income, other borrowings and overall ability to repay your loan when assessing your loan application.  For new members, it is probably wise to save reqularly for a period and then apply for a small, first loan to establish yourself.  Then, after a period of continuing to save whilst repaying that loan, apply for your second, slightly larger loan and so on.  Remember, your loans are insured, subject to policy conditions, at no direct cost to you!  Another bonus is that the interest you pay on your loan throughout the year will be eligible for any interest rate rebate agreed at the Annual General Meeting.

Attractive Dividend on Savings
Every year we pay an attractive dividend on members’ savings.  Members’ savings are also placed in our Life Savings Insurance scheme which applies an insurance element to your eligible savings meaning you can leave a nest egg for your loved ones in the event of your death.  This insurance product is offered at no direct cost to you.

Quality Service, No Fees
You can be assured of a professional service from Derry Credit Union at all times. You do not pay a transaction fee for saving with us or borrowing money.

Pay by Direct Debit
Arrange a Direct Debit payment from your bank and be sure of regular payments to your Credit Union account. We will send you a statement showing all transactions.

Member Services
Take advantage of a host of additional member services available. See our Available Services page for more details. Ask any staff member for more details about joining the Credit Union, or for further information see the different sections of this web site.