Volunteering

What is a Credit Union?

Your Credit Union is a non-profit making co-operative that is owned and controlled by its members for their mutual benefit. That means as a member you have a say in how your Credit Union is run and can take part in the decisions of the Credit Union at the Annual General Meeting. Any surplus made by the Credit Union is returned to the members in the form of a dividend on savings and/or reinvested into the Credit Union. This means that any surplus generated stays in the community and does not go to investors outside of your community.

What are the Values of the Credit Union?

Credit Unions are an ethical source of financial services and help communities grow by keeping money in the local economy, as well as being a key player in tackling financial exclusion. Larkhill & District Credit Union operates on the principles of fairness, equality, dignity, thrift, confidentiality and a concern for our community. A key aim is to educate our members on the wise use of money and promote responsible savings and lending.

What services are offered by the Credit Union?

Larkhill & District Credit Union offers savings products and affordable credit to members. Other services include bill payments, death benefit insurance (free to members), discounted personal insurance and a popular car draw. We are also involved in the community and local schools through various sponsorships and promotions.

How is the Credit Union run?

Your Credit Union is run by a voluntary Board of Directors which are elected by the members at the Annual General Meeting. The Board has responsibility for the general control, direction and management of the Credit Union and is the governing body that makes policy decisions. Most of the day-to-day activities of the Credit Union are delegated to the manager and staff, appointed by the Board. The Board appoints various sub-committees from its own ranks and from other volunteers. The members also elect a voluntary Board Oversight Committee at the AGM. This committee has the specific role of ensuring the Credit Union follows rules and regulations and is run properly on behalf of the members.

What volunteering opportunities are available?

Your Credit Union depends on volunteers to help it serve the community. We need people with a diverse range of skills & across a wide range of disciplines. Whether you have an hour or two to spare or can commit more time there may be a role for you if you have knowledge or skills in any of the following areas:

• Treasury/Investments
• Design & Publishing
• Marketing and Promotion
• Human Resources
• Lending Practices
• Risk Analysis
• Strategy Planning
• Governance v Auditing

Volunteers are always needed for the Board of Directors, Board Oversight Committee and the various sub-committees as well as to support the day-to-day operations of the Credit Union. Generally, new volunteers join a sub- Committee first. After gaining experience, they may seek election to the Board or Board Oversight Committee, depending on their skills and the time they have available. Going on a sub-committee first allows a volunteer time to develop an understanding of the Credit Union and to undertake relevant training. The Credit Union aims to limit the time commitment of new volunteers to two hours per week in their first term in office.

What are the benefits of Volunteering?

The benefits of volunteering in Larkhill & District Credit Union are many, and include: v Use of your skills and experience in a professional financial service organisation. v Get access to further training and development opportunities v Brings you into contact with others in our community v Helps you give something back to the community.

Are the responsibilities onerous?

The Credit Union is regulated closely by the Registrar of Credit Unions on behalf of the Central Bank. All officers have to meet the requirements of a fitness and probity regime before they can perform a senior role. The main responsibility of all volunteers is to act honestly and in good faith and in absolute confidence at all times.

CONTACT:

The Nominations Committee by: By Email: robrien@LDCU.ie; or By Post: Nominations Committee, Larkhill & District Credit Union, 234 Swords Road, Whitehall, Dublin 9, to arrange an informal meeting to discuss same.