These Credit Union Operating Principles are founded in the philosophy of co-operation and its central values of equality, equity and mutual self-help.
The Credit Union Operating Principles are guidelines through which Credit Unions put their ethos and values into practice.
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. These Operating Principles were adopted at the Annual General Meeting of the Irish League of Credit Unions 1984.
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