Credit Union Plus

What Credit Union Plus does

Credit Union Plus Ltd. is a member-owned financial cooperative headquartered in Navan, County Meath, Ireland, regulated by the Central Bank of Ireland under the Credit Union Act 1997. Formed through the 2016 amalgamation of local credit unions including the Ballivor/Kildalkey Credit Union (founded 1974), it serves members across a defined common bond covering Navan, Dunshaughlin, Clonmellon, Ballivor, Kildalkey, and Ballyjamesduff through five physical branches across Meath and Cavan counties. The institution provides a full suite of retail financial services including current accounts with Debit Mastercard, savings accounts (government-guaranteed up to €100,000), personal and consolidation loans (Great Rate Loan at 6.5% APR, Greenify Loan at 5.64% APR), mortgages, BizFin business and community loans, car/education/home improvement loans, and a brokered insurance offering across people, home, life, car, and travel categories, supplemented by loyalty programmes such as a monthly Car Draw and an annual Student & Apprentice Prize Draw awarding €1,500 to twelve winners.

The underlying technology platform centres on a PSD2-compliant digital banking stack with SEPA Instant Credit Transfer capability (processing euro payments within 10 seconds, 24/7/365), the CU Online web platform, and a mobile application on iOS and Android supporting biometric login, one-time passcode authentication, and Verification of Payee checks. Members are simultaneously owners with voting rights at the AGM, and any surplus is returned via annual dividends and reinvested in products and community initiatives, distinguishing the cooperative model from shareholder-owned banks. Free automatic Loan Protection Insurance (clearing outstanding loans up to €100,000 on death) and Life Plus Savings Benefit (up to €12,000 payout on death) are bundled into the core membership proposition.

Revenue is generated primarily through net interest margin on member lending, supplemented by fee income from insurance brokerage, payment services, and Car Draw subscriptions. Distribution combines the five-branch physical network with digital channels and strategic partnerships such as the Premier Energy solar installation programme and the BizFin business lending platform. The go-to-market is community-led, relying on common-bond membership, word-of-mouth referrals, local sponsorships, and CX-recognised customer experience (winning the CX Customer Experience Award 10 times consecutively as part of Ireland's most trusted organisation designation). Customer segments include general community members, students and apprentices, and SMEs and community organisations, with cumulative lending exceeding €500 million to the local community over the past fifteen years.

Name

Credit Union Plus

Legal name

Credit Union Plus Ltd.

Website

https://creditunionplus.ie

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

101–250 employees

Short description

Credit Union Plus is a member-owned financial cooperative serving Navan, Dunshaughlin, Clonmellon, Ballivor, Kildalkey, and Ballyjamesduff in Ireland through five branches, offering current accounts, savings, personal and green loans, mortgages, business lending, and insurance under a cooperative model regulated by the Central Bank of Ireland.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industries

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Community credit union
• Personal lending services
• Member-owned cooperative
• Savings current accounts
• Business community loans

Headquarters

HQ city

Navan

HQ country

Ireland

HQ region

Europe

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Loan Interest Income: Primary revenue source: income earned by lending member savings to other members at reasonable interest rates. Interest rate examples: Great Rate Loan at 6.5% (6.71% APR), Greenify Loan at 5.5% (5.64% APR). As a non-profit cooperative, surplus income covers expenses and funds dividends and better products/services for members.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Credit Union Plus is a member-owned financial cooperative operating across five branches in Meath and Cavan, Ireland, offering current accounts with Debit Mastercard, savings accounts, personal loans (including Great Rate Loan and Greenify Loan), mortgages, BizFin business and community loans, insurance products, and 24/7 digital banking via CU Online platform and mobile app. As a non-profit cooperative, surplus income is returned to members through competitive savings returns and dividends, with member-owned governance via AGM.

Product overview

Credit Union Plus operates as a community-owned financial co-operative regulated by the Central Bank of Ireland, offering a unified suite of financial services across five branch locations in Meath and Cavan. The core product portfolio centres on transactional and savings products (Current Account with Debit Mastercard, CU Online/Mobile Banking, Savings Accounts), diversified lending (Personal Loans, The Great Rate Loan for debt consolidation, Greenify Loan for sustainable purchases, Mortgages, BizFin Business and Community Loans, Car Loans, Education Loans, Home Improvement Loans), insurance (Life Plus Savings Benefit, Loan Protection Insurance, Bereavement Benefit Programme, and brokered People/Home/Life/Car/Travel Insurance), and convenience payment services (Direct Debit, Standing Orders, Electronic Funds Transfer, Payment Account Facility, SEPA Instant Credit Transfer). The digital banking platform (CU Online) and Mobile App provide 24/7 account access. Loyalty offerings include Car Draw, Student & Apprentice Prize Draw, and Love my Credit Union Rewards. All members receive automatic free Life Plus Savings Benefit and Loan Protection Insurance.

Differentiator

Problem solved

Functional benefit

Brands

• The Great Rate Loan: Debt consolidation loan product with 6.5% interest rate (6.71% APR) for loan amounts between €25,000 and €100,000
• Greenify Loans
• BizFin
• Love my Credit Union Rewards

Products and services

• Current Account

Quantifiable outcome

• Over €500 million lent to the local Navan community over 15 years
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• CyberSafeKidsminorGTM or Marketing Partner · 1 October 2025Partnership providing free access to the CyberSafeKids Better Digital Parenting Handbook and supporting the Same Rules Apply campaign. Credit Union Plus promotes digital safety resources to members and families. Also providing access to the 2025 Digital Parenting Guide.
• Premier EnergycoreStrategic or Co-development Partner · 1 August 2025Exclusive solar panel installation partnership for Credit Union Plus members. Premier Energy offers 10x445W solar panels, 5kW hybrid inverter, SEAI registered installer for €4,990 (after grant). Members can finance installations with Credit Union Plus Greenify Loans. Contact: 0818 998 980 / 087 108 4228 / www.premierenergy.ie.
• Collaborative FinancecoreStrategic or Co-development Partner · 1 May 2025Credit Union Plus is part of Collaborative Finance, a national group of credit unions working together to offer standardised loan products. Represented at the Collaborative Finance AGM in Portlaoise (May 2025) where Minister of State Robert Troy backed the network's work in developing new loan products for members.
• Bohermeen Celtic Football ClubminorGTM or Marketing Partner · 1 February 2025BizFin Community Loan recipient. Club chairperson David Brady publicly praised the lending experience. Testimonial shared via Meath Chronicle article and Credit Union Plus news. Represents community lending impact.
• Navan Meals on WheelsminorGTM or Marketing Partner · 1 June 2024Credit Union Plus sponsored a defibrillator for Navan Meals on Wheels located in St Mary's Community Centre, Trimgate Street, Navan. Enhances emergency response capabilities and demonstrates community commitment.
• Fitzsimons Funeral Directors NavanminorOthersListed as a referral resource on the Credit Union Plus bereavement support page. Other listed funeral directors: Farrelly's, James Fox (Navan); McEntaggart (Dunshaughlin); Mullen's (Ballivor); Jimmy Fitzsimmons (Clonmellon); Smiths, Matthews, McBrides, Briody (Ballyjamesduff).
• Government of Ireland (Deposit Guarantee Scheme)coreOthersAll member savings are covered under the Government's Deposit Guarantee Scheme up to €100,000 per member. This regulatory backing provides fundamental trust and safety assurance for members.
• BizFincoreGTM or Marketing PartnerBizFin is a community/business loan programme developed in collaboration with credit unions. Credit Union Plus offers BizFin Community Loans and BizFin Business Loans through the programme. Website: bizfin.ie/cuplus/. Engaged with local businesses and Chambers of Commerce to develop the product.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• EBS (Educational Building Society): Mutual-style Irish savings and mortgage lender (now part of AIB Group) focused on residential mortgages and savings. Closely comparable member-centric savings/mortgage proposition to Credit Union Plus's mortgage and share savings products.
• AIB (Allied Irish Banks): One of the 'Big Two' Irish retail banks with the deepest national branch network and full suite of consumer, SME and mortgage products. Operates inside the same Meath/Cavan geography and competes on current accounts and mortgages.
• Permanent TSB: Major Irish retail bank offering current accounts, mortgages, savings and personal loans nationally. Overlaps with Credit Union Plus on deposit-taking, lending and mortgage products but operates as a full-service bank rather than a community-owned cooperative.
• Bank of Ireland: Ireland's largest indigenous bank providing current accounts, mortgages, savings, personal and business lending across the country. Competes directly with Credit Union Plus for everyday banking and mortgage relationships in the Meath/Cavan region.

Emerging players

• Revolut Ireland: Digital-first challenger with a large Irish user base offering current accounts, payments and consumer credit. Targets the same younger members Credit Union Plus courts via its Student & Apprentice Prize Draw and digital app.

Direct peers

• First South Credit Union: Irish community credit union operating under the same Credit Union Act regime, providing current accounts, savings and personal lending to a defined common bond. Comparable cooperative business model and product mix.
• Progressive Credit Union: Large Irish community credit union offering a comparable suite of current accounts, personal loans, mortgages and member benefits. Same Irish Credit Union Act governance structure and mutual ownership model as Credit Union Plus.

Others

• An Post (State Savings): State-owned provider of deposit and savings products through Ireland's post office network. A non-bank, government-backed deposit alternative that competes for household savings and small savings balances in Credit Union Plus's region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/CreditUnionPlusLtd
• LinkedInie.linkedin.com/company/credit-union-plus-ltd.
• Instagraminstagram.com/creditunionplus
• TikToktiktok.com/@credit.union.plus
• Xx.com/CU_Plus

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Credit Union Plus