Business

Bangor branch marks latest expansion of Clonard Credit Union

L-R: Clonard Credit Union chief executive Ruth Clarke, CCU Bangor staff member Denise Clucas, and CCU chair Brian McCrory.

Clonard Credit Union (CCU) is to expand outside of Belfast by taking over a branch in Bangor.

Now one of the north’s largest credit unions, the move will bring CCU’s branches to five.

The new branch, located in Abbey Street, will open on August 5. It will take over the office of the former Bangor Credit Union with all former members of that branch automatically transferring to CCU.

It comes less than a year after the west Belfast credit union opened a new branch at the Park Centre creating ten jobs.

CCU chief executive Ruth Clarke said the expansion outside of Belfast was a statement of the credit union’s popularity and continued growth.

“CCU Credit Union now serves over 20,000 members, and in the last financial year we issued loans totaling £11,264,592 to our members in the local community.

“Our new Bangor branch welcomes our existing members and new members.

“This is a positive development in the midst of the severe economic downturn caused by the Covid-19 pandemic,” said the chief executive.

"We are a ‘not-for-profit’ financial co-operative owned and operated by our members. Our purpose is to help our members with their day to day financial needs through regular savings and fair and affordable access to loans, together with a full range of banking services.

"Our aims are to promote thrift among members by the accumulation of their savings and provide loans for the benefit of members at a fair and reasonable rate of interest.”

Ms Clarke continued: “We are always member focused and embedded in the community we serve. CCU provides a full banking service to our membership. Our online services offer our members access to their credit union 24 hours a day seven days a week. Our premises in Abbey Street will ensure a personal service if our members prefer to conduct business face to face.

“Our mobile banking app connects you to your CCU savings, loan and current account. It allows you to transfer or withdraw money or make payments.

“Our online loan application allows you to apply online with an average turn-around of 24 hours. Simply sign the documentation online and we transfer the funds to your nominated account. What could be easier and all from the comfort of your armchair.

"We look forward to this new expansion for CCU Credit Union and to serving the people of Bangor and the surrounding area.”

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