Mallow Credit Union was founded in July 1963, to serve the financial needs of the community in a not for profit basis. In the early days business was conducted in the town hall and run by volunteers. In 1969 Marian House, O Brien street was purchased and during the period 1972 to 1974 the building was completely renovated and extended. From then on we have expanded and developed. In November 1982, premises were purchased at 135 Bank Place and refurbished during 1985 and opened for business on Thursday the 20th January, 1986. In June 1992 the premises adjoining the credit union, 134 Bank Place, were purchased and refurbished giving a more spacious banking area with reception desk and interview offices. This new area was opened for business in July 1995.
The Expansion of Mallow Credit Union Ltd.
In 2016, a merger was agreed between Mallow Credit Union and Millstreet, Buttevant, Doneraile & Dromcollogher. With a combined seven branch offices and more than 28,000 members, the merger created one of the largest credit union partnerships in the State. The merger has created a stronger and more robust Credit Union, with savings and loan products at more competitive and sustainable rates. Members of the smaller branches have benefited from increased and better services and shared cost efficiencies with a larger geographic common bond and enhanced growth opportunities.
In October 2017, following the sudden appointment of a provisional liquidator to its neighbouring credit union in Charleville, the Board of Mallow CU Ltd. were of the opinion that it was incumbent upon them to offer a full credit union financial service to the people who reside or are employed in the common bond area of Charleville. The members of Mallow CU Ltd. voted strongly in favour of extending the Common Bond to include Charleville and permission to do so was also granted by the Central Bank. On Friday, 24th November, the Charleville branch of Mallow Credit Union Ltd opened on Main Street (in the former Charleville CU building).