Payac was established in 2016 and has since launched the first Current Account service for Credit Unions in Ireland. By offering a full suite of payment services, Payac is proud to partner with Credit Unions to help them further enhance their service offering.

Payac is owned by its member credit unions. We are proud of this ownership structure which allows us to place the interests of Credit Unions front and centre of our business model. All members are entitled to vote at AGM and take part in annual director elections.

Payac’s agility, coupled with our payments expertise, and forward-thinking membership base, allows us to deliver innovative solutions to our member credit unions.

Cara Credit Union

Board of Directors

Meet our Board of Directors and read their biographies.

Our Members
Altura Credit Union
Athenry Credit Union
Bishopstown Credit Union
Cara Credit Union
Comhar Linn Into Credit Union
Core Credit Union
Donegal Credit Union Logo
DUBCO Credit Union logo
Enfield Credit Union logo
Larkhill & District CU Logo
Lifford Credit Union Logo
Our Members
Altura Credit Union
Athenry Credit Union
Bishopstown Credit Union
Cara Credit Union
Comhar Linn Into Credit Union
Core Credit Union
Donegal Credit Union Logo
DUBCO Credit Union logo
Enfield Credit Union logo
Larkhill & District CU Logo
Lifford Credit Union Logo
Become a Member
Become a Member

Payac was established by Credit Unions to support Credit Unions seeking regulatory approval and to act as a shared services company for the delivery of Current Accounts. Not only have we succeeded in supporting Credit Unions to bring the first Credit Union current account to market, we now provide a full payments service to Credit Unions, including SEPA payments and cheque clearing.”

Payac is the only Credit Union Services Organisation (CUSO) of its kind in Ireland that is directly owned by participating CU’s
As a CUSO, Payac is able to put the needs of its members first, minimising costs while optimising service
Payac provides services to all credit unions, regardless of IT provider, industry affiliation or common bond, meaning that our services are availed of by credit unions in all four corners of the country
With the Current Account live and operational, the path is now clear for credit unions with assets below €75m to offer the service. We have already assisted some of these credit unions to gain regulatory approval and we welcome the opportunity to partner with credit unions of all sizes.
Payac provides a proven process for regulatory applications, from application support to business case modelling to Central Bank of Ireland attestation.
What people are saying about Payac
Since we introduced the Current Account, we have seen a re-engagement with dormant members, who would have traditionally borrowed from the CU but had not done so in recent years. The Current Account was key to rekindling that relationship. This coupled with us continuing to provide a service to our members during the recent lockdown has put Drogheda CU in good stead for delivering further enhancements to our service offering over the coming months. And the debit card has reduced the queues at our offices with members using the card to pay for purchases and get cashback.
Sarah McGee
Assistant Manager
Drogheda Credit Union
What people are saying about Payac
“Life CU recently switched IT Service provider. A key consideration of the migration plan was that a large number of our members had Current Account and debit cards, and needed continuity of service. The team in Payac was able to guide us through a very streamlined process, and the migration was very straightforward.”
Karen Mulligan
CEO
Life Credit Union