About Us

History of Downpatrick Credit Union

DCU Founder - Michael Scallon

DCU Founder – Michael Scallon

Downpatrick Credit Union is a success story built on thrift and community, and after more than 4 decades of helping the people of Downpatrick and the surrounding area, the Credit Union is now confidently looking forward to the future. Our current membership is approximately 7,000.

Downpatrick Credit Union Limited has the strength, in lending terms, to provide the perfect level of help for people seeking low cost financial support.

Over the years the local community has benefited from the input provided by the credit union.

It has taught people how to manage their money in a sensible fashion, with a philosophy based on a solid cornerstone of mutual support.

People, not profit, always have and always will come first with Downpatrick Credit Union Ltd.

Monaghan man Michael Scallon, after living in America for a number of years, moved back to Ireland and set up home in Downpatrick.

11 English Street

11 English Street

A keen enthusiast of the Credit Union movement, he made enquiries and found there was no such group in the town. He decided to change this and began by speaking to various members of the community and informing them of the benefits of a credit union.

A few study groups were held in his own home and after several meetings, a public meeting was called on 12th March 1969 in Rea’s Hotel. Following the meeting, premises were found in Market Street above Magorrian’s Jewellers and within one month, fifty four members had joined.

Michael was relentless in his efforts to spread the credit union message and continued to visit numerous people whom he feared were going into serious debt by giving large amounts of money to money lenders. He encouraged them to join the Credit Union and from this beginning we have what you see today.

The 2nd premises of Downpatrick Credit Union was opened in May 1970 at 30 Irish Street. The third was opened in February 1972 at 11 English Street, and refurbished in December 1994. The Credit Union moved to their current premises at 68-70 Market Street on 9th May 2002, and the building was officially opened on the 19th October 2002.

Strangford Credit Union

Strangford Credit Union

The first Board of Directors and Supervisors 1969-1970

  •  President – Peter Grainger
  • Treasurer – Jim Cahalane
  • Secretary – Michael Scallon
  • Margaret Goodfellow
  • Vera Smyth
  • Frank Turley
  • George Walls
  • Michael Feenan
  • Pat Kinsella
  • Dermot McNabb
  • Desmond McNeill
  • Jill Sampson

In December 2007, Downpatrick Credit Union took on the membership of Strangford Credit Union after agreement of the members at both credit unions AGMs.