In the early days of the Credit Union volunteers operated in Magherafelt Orange Hall (kindly loaned) but, as the years passed, and the organisation grew to a more secure financial footing, purpose built facilities were erected onto the back of the existing Orange Hall.
The Credit Union has steadily progressed and flourished - from the initial meeting which consisted of a few interested local people, we now have 2500+ members.
In 2010 the Credit Union took the difficult decision to leave their existing premises in the Orange Hall and move to purpose built premises in Kirk Avenue, Magherafelt. These premises are more accessible to the public, have the advantage of a "shop front" and provide more facilities for the Staff, Directors and ultimately the members.
The Common Bond of any Credit Union is the "link" that binds people together and enables them to apply for membership. Credit Unions are co-operatives - this means that we are owned, managed and operated by the members working together in order to help each other.Magherafelt & District No. 3 Credit Union Ltd is a community focused organisation.
The Common Bond of Magherafelt & District No.3 Credit Union is:
- Members of the Loyal Orders, members of their family and friends, who reside within the Magherafelt District area
Meet our Staff
Magherafelt & District No.3 Credit Union Ltd currently employs 7 staff in various positions, including Tellers, Schools Liaison Officer, Loans officer, Credit control Officer and Management team. Our staff are here to help all members with any queries or concerns, and are available throughout our opening hours.
The Board of Directors of Magherafelt & District No. 3 Credit Union Ltd is elected annually at our Annual General Meeting (usually held in December). The members of the Board are ordinary members of the Credit Union. It is their duty to ensure that they act in the best interests of EVERY member of the Credit Union and to ensure the safety of all assets held - these include personnel, money, property and all equipment.
Board members give up their free time and carry out all appropriate duties on a voluntary basis. The day to day management and operation of the Credit Union are delegated to the staff however the Board retains ultimately responsible for the appointment of staff and the operation of all agreed policies.