These Credit Union Operating Principles are founded in the philosophy of co-operation and its central values of equality, equity and mutual self-help.
"At the core of these principles is the concept of human development and the brotherhood of man expressed through people working together to achieve a better life for themselves and their children."
â Adopted at the AGM of the Irish League of Credit Unions, 1984.
The 10 Principles
1
Open and voluntary membership
2
Democratic control
3
Limited dividend on equity capital
4
Return on savings and deposits
5
Return of surplus to Members
6
Non-discrimination in race, religion and politics
7
Service to Members
8
On-going education
9
Co-operation among co-operatives
10
Social responsibility