Kilrea & District No. 5 - History

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During the early years this fledgling but nevertheless registered company conducted its business in the local Orange Hall under the auspices of the National Federation of Credit Unions (Bradford). This was enough to prove the strength of the management team and the raison-de-etre of the system.

Membership from the loyal orders (including the Orange Order, the Royal Black Preceptory and the Apprentice Boys of Derry) grew steadily, creating some problems for competant data management and customer service in the cramped quarters. The board of directors decided to purchase a couple of local dwelling houses when they came on the market and in 1998 they were converted into purpose designed office space.

Membership continued to expand so much that a new networked computer system was installed in 2002. Now in 2007 it is becoming obvious that yet another re-vamp is a looming necessity.

Nowadays this Credit Union is affiliated with the Ulster Federation of Credit Unions based in Dunmurray, Belfast. This is a very efficient body which provides much back-up in the lines of training, stationery, advice and insurance.

The future of Kilrea and District No.5 Credit Union Ltd is assured on account of its openness and fair trading. Our members been inherently loyal to its financial policies and its directors have not been slow to train for new processes.

Financial Inclusion is the latest government buzz-word and amongst others, this Credit Union is getting ready to confront the approaching issues. It seems that the next 20 years will be just as busy as the last.......