Our Credit Union offers a number of services to the members.

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latest News

25 Mar 2024

Free Draw for Easter

Make a transaction in a branch in March to get entered into the Easter Draw

13 Mar 2024

Payments that are due on 18 March 2024

Payments due on 18th March - advised to make transfer on 14th or 15th March From afternoon of 15/02/24 to 18/03/24, SEPA Payment systems will undergo a mandatory change. All Irish banks and credit unions may experience delays in payment processing over the St. Patrick's day weekend.

15 Feb 2024

Refer a friend

To be in with a chance to win, you can refer a friend to the Swilly Mulroy Credit Union. You just need to be a member already, and your friend must keep the account open for at least 3 months.

28 Jan 2024

School Quiz 2024

Congratulations to all the children who took part in the school quiz on Sunday, 28 January 2024, in Rossnakill Community Centre.

27 May 2023

Student Loans

Are you waiting on your leaving cert results, or going back to college ? Check out our Student loan for your accommodation, fees, and college expenses. Interest Rate of 6.5 % APR.

31 Mar 2023

Instructions for Online Access

Visit www.swillymulroycu.ie on a laptop or computer and go to LOGIN on the top right corner of the website.      

01 Feb 2023

Simple Way To Lodge Money

Envelopes are available to make it easier for members to lodge money outside of office hours.

About Us

Our Mission

Swilly Mulroy Credit Union is committed to and adamant that the people in our community are key to its success and we want to continue growing that relationship in the locality. As we grow, our dedication to excellence in the services we provide to our members will always remain our main priority.

About us

We work by the Credit Union ethos of 'Not for profit, Not for charity, but for service’. This is at the core of what we do to provide financial services to our community.

The Swilly Mulroy Credit Union provides a wide array of financial services and dedicated staff members and volunteers are here to support you.

Under the guidance of the Board of Directors and general management, these financial services will be carried out in accordance with the regulations of the Central Bank of Ireland, the Irish League of Credit Unions and Swilly Mulroy Credit Unions own in-house legislations.

Subsequently, the works of Swilly Mulroy Credit Union will be competently, efficiently and professionally carried out  to fulfil our mission.

Our history

Swilly Mulroy Credit Union (SMCU) was founded in April, 1985. The idea was first muted at a meeting of the Fanad development association. As a result, the Irish league of credit unions was contacted and after a number of public meetings a study group was established. This group undertook in-depth analysis of the credit union philosophy, its operating principles and its business model.

Registration of the new credit union was then applied for, accepted, and on the 18th April 1985 Swilly-Mulroy Credit Union held its first organisational meeting in the community centre at Tria-lough. This was a public meeting, however only SMCU members could partake in the voting process for the first board of directors.

Elected to the first board of Directors were John McGowan (deceased), Mick ‘Neddy’ Gibbons (deceased), Peter Doherty, John G Friel, James Coll, James Farrell, Pat Murphy (deceased), Martin Mc Vey, & Jimmy Begley (deceased). Elected as Supervisors were Lawrence Blaney Snr, Anne Martin, & Martin Mc Bride.

Today, SMCU can report some astonishing figures. It has a membership of 4,500 + people with total assets of €22 million and a loan book of over6 million. Due to the hard work and dedication of the volunteers since the beginning, the staff under the management of Breda McNulty and the commitment/loyalty of you the members it is hoped SMCU will continue to grow and flourish well into the future.

Origins of Credit Unions

The modern Credit Union movement traces its origins to Germany and to Friedrich Willhelm Raiffeisen, the Mayor of a small town in southern Germany, who in 1849 formed societies, which later evolved in to Credit Unions. The purpose of these Credit Unions were to enable people to help themselves in relieving debt and poverty.

A Credit Union is a democratic, financial co-operative owned and controlled by its own members. Each Credit Union is run only to benefit its members, all of whom have something in common - the common bond.

The Irish credit union movement was founded as a result of the efforts of three dynamic, pioneering and entrepreneurial people, namely Nora Herlihy, from Ballydesmond, a teacher based in Dublin; Sean Forde, an employee of Peter Kennedy Bakers, Dublin; and Séamus P. MacEoin, from Kilkenny, a Civil Servant working in Dublin.

In Dublin in the 1950's, they witnessed the effects of high unemployment: sickness, malnutrition, money-lending, hunger, poor clothing, poor housing, and inevitably, emigration of one parent or of the whole family. In addition, state unemployment benefits were low and did not last indefinitely leaving many families in abject poverty.

The founders recognised the root of the problem as lying in the scare availability and poor management of money and resolved to identify a system that would allow people to gain more control over their finances.

Since then, the Credit Union philosophy of mutual self-help has proved very popular, and there are just under 500 Credit Unions affiliated to the Irish league of Credit Unions throughout the country. 

In Ireland nearly 3 million members have recognized the value of credit unions, and have savings approaching several billion euros with their credit unions. There are thousands employed in the sector and many more thousands are volunteers involved in the movement.