Frequently Asked Questions

Have a question? You may be able to find the answer below in our FAQs.

Cooperatives are people-centred enterprises owned, controlled and run by and for their members to realise their common economic, social, and cultural needs and aspirations.

Cooperatives bring people together in a democratic and equal way. Whether the members are the customers, employees, users or residents, cooperatives are democratically managed by the ‘one member, one vote’ rule. Members share equal voting rights regardless of the amount of capital they put into the enterprise. 

Cooperatives are based on the values of self-helpself-responsibilitydemocracyequalityequity, and solidarity. In the tradition of their founders, cooperative members believe in the ethical values of honesty, openness, social responsibility and caring for others.

A credit union is not-for-profit, member-owned financial cooperative funded largely by voluntary member deposits. A bank is for-profit owned by shareholders.

This is a required account at a credit union because it is what makes you a member of the credit union. Your savings account represents your share of the credit union thus it is called a share account. Share accounts are liquid and meant for payments and everyday spending.

Permanent shares increase the capital and strengthens your credit union which allows it to undertake expansion and enhancement of services to members. To become or remain a member of the credit union you must have shares. Permanent shares cannot be withdrawn, they can only be transferred when the member gives up membership.

St. Patrick's Co-Operative Credit Union Christmas Club Notice

Members of the St. Patrick's Co-Operative Credit Union Ltd are asked to note that the current Christmas Club savings program closes on Wednesday November 3Oth, 2022, and payments will begin on Monday December 5th, 2022.
Members are also asked to note that the new Christmas Club savings program will open from Thursday December 1st, 2022.
All members and potential members are asked to note that the business hours of the Credit Union are:
8:00am - 3:00pm Monday, Tuesday, Thursday and Friday
8:00am - 2:00pm Wednesday
Thank you for your usual kind co-operation.

Dated the 25th day of November 2022.

PETER D.A. QUEELEY

GENERAL MANAGER