Health Services Staffs Credit Union was established in 1970 by a group of Dublin Health Authority employees who sought an alternative to the then ‘closed shop’ attitude of many main stream financial service providers. The credit union has grown from strength to strength in terms of assets, size, products and membership ever since.

Our Board of Directors comprises of 15 members of the health services sector, so our members are fully represented at all times by members of their peer group.

Our Supervisory Committee also comprises of health services staff, who are elected to their positions by our members at our Annual General Meeting.

Philosophy and Operating Principles

The operating principles were developed in keeping with the ideals of mutual self-help philosophy and the fair and equal treatment for all. They are:

• Open and Voluntary Membership

  Any person who has the Common Bond and is willing to accept the corresponding responsibilities may seek membership and make use of its services.

• Democratic Control

  All members have an equal say in the running of their credit union, one member, one vote, regardless of savings.

• Return of Surplus to Members

  Any surplus gained in the operations of the credit union, after the operating costs are met, are given back to the members by way of dividend.

• Service to Members

  Credit union services are provided to its members with the goal of meeting peoples’ needs and improving their economic and social well being, rather than maximising profits.

• On-Going Education.

  Credit Unions actively promote education in thrift and the wise use of credit as well as the rights and responsibilities of members, among its members, officers and employees.

• Co-operation Among Co-operatives

  In keeping with the philosophy of pooling resources, credit unions actively assist each other and other co-operatives within their capability.

• Social Responsibility

  Every person within the Common Bond area is either a member or a potential member and the credit union ideal is to extend services to all those who can and need to use it.

• Limited Dividend on Equity Capital

  Permanent equity capital where it exists in the credit union receives limited dividend.

• Return on Savings.

  To encourage thrift through savings, therefore pooling member’s savings to provide loans to members. A fair rate of dividend is paid on shares within the capability of the credit union.