Mayor shows support for Lisburn Credit Union

THE Mayor of Lisburn, Councillor Brian Heading, has hosted a reception for Lisburn Credit Union to mark the UN International Year of Co-operatives.

This local organisation offers Lisburn residents the opportunity to save or borrow money at reasonable rates; and would like to encourage more residents to join.

Mr Heading said: “This socioeconomic organisation has been an integral part of the Lisburn community for over 40 years. I was delighted to host a reception to acknowledge the outstanding work of the staff and volunteers of Lisburn Credit Union.”

The Credit Union movement is one of the most successful in the world and half of Northern Ireland’s working population are members. Mr Stephen Malcolm, Chairman of Lisburn Credit Union, said: “Since 1971 we have been providing residents with affordable options to meet their financial needs.

“Currently over 8,000 individuals are members of Lisburn Credit Union and in this special year we would like to encourage more to join and benefit from our services.

“In the current economic climate the finances of local households are understandably watched with care. Lisburn Credit Union has the best interest of its members in mind when it offers a savings mechanism and a low interest loans facility on a fair and equitable basis to Lisburn’s residents. If a short-term loan is required Lisburn Credit Union is a more preferable, competitive and affordable option than the payday loan organisations which are advertised on television.”

Lisburn Credit Union members have accumulated £11 million in savings and last year it distributed £400,000 to its members in dividend and interest rebates. Under the government Financial Services Compensation Scheme credit union member’s savings are protected up to £85,000 per member if required. To date no ILCU credit union member in Northern Ireland has ever lost a single £1 but it appreciates the added security this insurance offers its members.

To become a member visit the Lisburn Credit Union on Bachelors Walk on a Tuesday, Thursday, Friday and Saturday, telephone 9267 0194 or apply online at www.lisburncreditunion.co.uk