Hamilton Road Credit Union Limited
Named after the location of Bangor Orange Hall, where the company has its offices, the above credit union was formed on 15 February 1991 by members of Bangor District LOL 18.
Initially set up as a savings group which, within a year achieved "Limited Company" status, the Credit Union has maintained steady growth, both in membership, and share-holding, during the last decade. The foundation group of twenty members carried out all business transactions manually across a table within the start-up period. Within two years, a small office of some 90 square-feet was utilised, as was one computer terminal, which dealt adequately with business requirements for the ensuing six years.
Currently, the office space has trebled and houses four computer terminals, which are available to utilise a "state-of-the-art" Credit Union program aimed at providing a fast, efficient service for the six hundred, or so, members. Junior members, who are all under 16 years old, now number about fifty and are encouraged to save regularly and, eventually, to become full share-holders with full voting rights.
The Credit Union is controlled, and run, by Officers and Directors who are answerable to the Membership. At the Annual General Meeting the Committee is elected to serve for the following year, and the share dividend is approved, dependent upon the amount of surplus funds.
The Common Bond, which governs the qualification to membership of a Credit Union, is in this case, all Members of the Loyal Orders within Bangor District, and their families. Members of Lodges (Gents, Ladies, and Juniors); Preceptories, and Apprentice Boys of Derry, which sit in Groomsport, Ballyrobert, Conlig, Crawfordsburn, Ballykeel, and, of course, Bangor Orange Hall, qualify for membership and are entitled to propose, or second, the acceptance of new members.
As the Tenth Anniversary approaches, the Aims of the Credit Union remain the same, namely;
- SAVE regularly.
- BORROW wisely.
- PAY BACK promptly.
Office hours:
3.00 p.m. till 8.30 p.m. on Friday evenings for shares lodgements and loan repayments.
Enquiries and queries:
Can be dealt with Mondays to Thursdays
9.30 a.m. till 4.30 p m. by phone/fax on 028 9147 0255
Enquiries by email to: creditunion@bangordistrictlol18.org.uk