The idea of Caherdavin & District Credit Union began in 1974 by way of a request from the local resident’s association and parish council. The idea was built on by a study group in the area that met weekly for six months to formalise the founding of the Credit Union. The study group received guidance from the members of Chapter 13, the Arch Confraternity and a Field Officer Joe Daniels from the Irish League of Credit Unions oversaw the process.

The first step to the process was to set up a savings club to allow the group to familiarise themselves with bookkeeping, accounting, and banking of cash procedures.

The first landmark was the registration with the Register of Friendly Societies. Following this, a residential and employment-based common bond of a three-mile radius from our original office in Caherdavin was granted. This meant that anyone that lived or worked within the common bond could join our Credit Union.

In 1975 an organizational meeting was held to elect a Board of Directors, Supervisors and an Auditor and to put in place a management structure for the Credit Union. The founding members were Fr. Des McAuliffe, Margaret Quinn, Mary Moore, Eamon Doyle, Michael O Brien, Liam Neary, Mary Earls, Kathleen Heffernan and Michael Redmond.

In the first year of operations the Credit Union had eighty-five members with combined savings of IR£1,084.23. The first Board members were Mary Moore, Denis Walsh, Tom Mitchell, Liam Donovan, Jack Dillon, Murt Dillon, Eamonn Doyle, Joe McLoughlin, Liam Neary, Michael O Brien and Seamus McRedmond. The first Supervisory Committee was Jack Dillon, Mick Shannon and Margaret Walsh.

Having started life in the Scout Hall in Caherdavin, membership quickly grew and in 1981, the Board made the brave decision to establish its own premises in Redgate. These premises were officially opened in 1982 by Nora Herlihy one of the founder members of the Credit Union Movement in Ireland.

The Credit Union experienced substantial growth in members and to help manage the growth the Board decided to employ two part-time employees in 1988. In this year shares reached one million Irish pounds. As the membership continued to grow, the Board made the decision that a computerized system needed to be introduced. To facilitate this Octagon technology was chosen to assist the staff to serve the members more efficiently and to manage its members’ services.

By 2012 the Credit Union had 12,432 adult members and 1,703 juvenile members with over €47 million in member shares, a loan book of €15m and 11 staff members.

By 2013 it had become clear to Credit Unions that to be able to offer all the services that they required for their members it would require Credit Unions amalgamating through Transfer of Engagements

Caherdavin & District Credit Union had one of the first Transfers of Engagements in the country when SFADCo Staff Credit Union joined our Credit Union in 2013. As well as welcoming their members we also welcomed Carmel Cronin to our Board of Directors.