Portadown Credit Union is a not-for-profit financial organisation. We currently have just over 11,100 Members.
Portadown Credit Union is owned by its Members who each possess shares in the organisation. Each year after running cost are accounted for, any ‘profit’ is returned to Members in improved services and in dividends on savings and in interest rebates on loans.
In 2016, Members agreed at the Annual General Meeting (AGM) on the dividend and interest rebate to be paid out. To individual Members this equated to a return of 1% on savings and an interest rebate of 25% on loans.
Although the day to day management and administration of Portadown Credit Union is undertaken by paid staff, Portadown Credit Union, in common with other Credit Unions, is dependent on local volunteers, who are elected every year at the Annual General Meeting.
The Board of Directors of Portadown Credit Union, the Supervisory Committee and the Credit Committee are all volunteers who generously give their time, skills and experience to ensure that Portadown Credit Union maintains its high regard, not just in the local community, but amongst other Credit Unions.