“YOU HAVE A SHARE IN THE OWNERSHIP OF THE CREDIT UNION”
Saving regularly and borrowing sensibly are important elements to remember when it comes to managing your money. Saving regularly gives you financial security, independence, peace of mind and an attractive return on your savings.
It is through the accumulation of members’ shares that the credit union has the ability to grant loans. As shares act as a security against your loans, you are advised to continue to save while repaying a loan to ensure that you are well placed if you need to borrow a higher amount on the next occasion.
WE HAVE A NUMBER OF WAYS WHICH YOU CAN LODGE SAVINGS TO YOUR ACCOUNT INCLUDING:
- By lodgement directly at the counter with a member of staff
- Using the self-service Kiosk in our front office
- By setting up a Direct Debit or Standing Order from your bank account
- By Salary deduction with one of the many employers offering this service
- Using your Visa Debit card on our secure members area of this website
A dividend is generally paid every year on your shares. The members vote at the AGM to decide the rate of dividend for the year. The members’ decision is based on the surplus for the year and the recommendation of the Board of Directors.
BENEFITS OF SAVING WITH LETTERKENNY CREDIT UNION
- No hidden or additional costs
- No transaction fees
- Access to your savings on demand
- Life savings Insurance – subject to some limits and conditions
- On line access to your account
Please note that there may be limits on cash available at the counter. We will happily transfer funds directly into your bank account for you. Any funds transferred before 11.00 am will generally arrive in your account the same day by close of business or to the receivers account. Bank holidays may lead to some variations on this.
We are happy to make cheques payable to your creditors for you at no additional cost.