Micheál McDermott, CEO, Virginia Credit Union Limited, along with staff members Marese Callaghan, Roseann Traynor and Geraldine Mulvany.

Virginia Credit Union - your one stop shop

Supporting local people and businesses is the mission statement of Virginia Credit Union and it brings many benefits.

The last few years have seen some banks closing branches across the region, including Cavan; but the local Credit Union remains a pillar of the Virginia community.

“With Virginia Credit Union you have the benefit of a local branch,” says CEO Micheál McDermott, extolling the virtues of the facility.

“Where Ulster Bank and Bank of Ireland are closing branches all over the country, Virginia Credit Union remains local and an open office you can walk into. Decisions on lending applications are made locally. We have local branches and local decisions.”

2021 has been incredibly successful for the CU, with 300 new members registered and income up 19% over the year, with its surplus ahead of expectations. This is reflected also in the loans granted to members, with €4.7m in payments made to the local community - up 17% on last year.

VCU is going to continue this with a range of innovative lending products at competitive rates for its customers, something of which Micheál is proud.


“Decisions on lending applications are made locally. So we have local branches and we make local decisions. If you apply for a loan you’re assessed on your repayment capacity, your track record with the Credit Union, your credit history but more importantly you’re being assessed as a person rather than as an account number by somebody in an office in Dublin.”

It’s clear that looking after locals and offering a friendly and reliable service is the foundation of Virginia Credit Union.