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Kate Crowe

Carrick Aces & Carrickmacross Credit Union Ltd. join forces for the ‘Carrick Aces Credit Union 5k & Family Friendly 2k Run’

By | Latest News

Carrickmacross Credit Union Ltd. is delighted to announce that it has partnered with the Carrick Aces as its primary sponsor for the Carrick Aces Credit Union 5K & Family Friendly 2K Run which will take place on Sunday March 15th 2020.

Speaking about the new partnership, Marian McEnaney, CEO of Carrickmacross Credit Union Ltd. said “The Carrick Aces are a very highly regarded local organisation, with over 466 members it is the fastest growing Athletic Club in Monaghan and we are very happy to have teamed up to organise this exciting event, which all the family can get involved in”.

Martin McCahey, Chairperson of Carrick Aces also commented “We are delighted with this partnership with Carrickmacross Credit Union Ltd. Their ethos of social responsibility and community development is very much in line with our own core ethos here at Carrick Aces. This is the first time that we have included the 2K Family Run, and we are looking forward to seeing lots of new faces participating this year”.

The 2K Family Friendly race starts at 10am sharp, with the 5K race kicking off at 11am. Both races will start at the Carrick Aces grounds on Oriel Road. You can complete registration online at www.carrickaces.ie  or Pre-Registration takes place on Saturday 14th March in the Credit Union from 10am – 4pm. Registration on the day will also be available from 9.15am.  

The Family Friendly Run is €5 entry and all runners will receive a medal.

For the 5K Run the entry cost is €15 and for this you will receive:
• A locally designed medal
• T Shirt (for the first 300 entrants)
• Chip timing
• Great Prizes
• Refreshments afterwards

For more information please see Carrick Aces or Carrickmacross Credit Union Facebook Page.

 

Carrickmacross Credit Union Ltd. is regulated by the Central Bank of Ireland. Reg. No Cu 141.

10 Reasons A CCU Car Loan is Better than a PCP Agreement

By | Latest News

In recent years PCPs, or Personal Contract Plans, have become a popular way to finance a new car. Many dealerships can offer you a very attractive-sounding deal on the spot – affordable deposit, low monthly payments, trade in the car after 2-3 years… What could possibly go wrong?

Unfortunately, it’s not quite as simple as all that and there are a number of pitfalls to be aware of when entering into a PCP agreement – most of which can be avoided completely by taking out a car loan with Carrickmacross Credit Union Ltd instead.

Here are some reasons you should talk to us rather than enter into a PCP:

Ownership
A PCP is a kind of hire-purchase agreement, where you don’t actually own the car until you make the final payment. This means if you want to change cars or encounter difficulties during the term of the contract, you can’t sell the car without the agreement of the finance house/dealer.

With a car loan from Carrickmacross Credit Union Ltd you can drive it like you own, because you do!

Flexibility

Because PCP monthly payments are fixed over the term of the agreement, you can’t pay extra each month to finish up early and you will be charged a fee if you need to restructure the agreement in any way.

With us there are no penalties for paying off a loan early, so you can pay more than the minimum each month if you wish.

Balloon Payments
A PCP is broken into three parts – deposit, fixed monthly repayments and a large final payment, often called a balloon payment, that can be anything up to 50% of the value of the car. You won’t own the car outright until you pay off that final amount.

With a loan from us there are no nasty surprises left at the end of the term – your payments will stay the same throughout.

Mileage
As part of a PCP agreement, there is usually a restriction on how much mileage you put on the car. Going over the agreed maximum mileage can affect the final value of the car and end up costing you more money.

Here at Carrickmacross Credit Union Ltd we have no interest in how much driving you do in your own car.

Maintenance
PCP providers often insist you have the car serviced on a strict schedule by someone in the official dealer network. If you come to the end of your term and you’ve either missed a scheduled service or had it done anywhere other than one of their specified locations it could end up costing you a fortune.

Carrickmacross Credit Union Ltd just hope you drive safely and look after your car so you can get the most value out of it.

Negative Equity
When you buy a car it immediately begins to lose its value to depreciation, very quickly at first, but it does slow down. This is normal and with a credit union loan it isn’t an issue, because as depreciation slows down your payments catch up and it all balances out.

With a PCP, especially if you’ve paid a low deposit, you may never actually catch up with the car’s depreciation. This really only becomes a problem if you need to change cars or if your financial situation changes and you need to exit the PCP early, because even selling the car won’t be enough to cover what you owe the dealer.

Costs
PCPs are attractive because they consist of a relatively low deposit and low fixed repayments, which makes them seem very reasonable and manageable at the outset. However, you need to look at the total cost over the term – bearing in mind that the car isn’t even yours until the final payment is made – and it may work out more expensive than a car loan from us.

Community Based
Carrickmacross Credit Union Ltd is made up of people from YOUR local community, who all share a common bond – whether it’s where they live, the industry they work in or an association they belong to.
Saving with us contributes to the loan fund, which directly benefits other members and helps develop your community.

Not for profit
Carrickmacross Credit Union Ltd is run for the benefit of our members, not to profit from their needs.
Unlike commercial lenders, where profits go to third party investors, any surplus income generated by Carrickmacross Credit Union Ltd is returned to members as a dividend or else invested in improving and expanding the service.

Interest Rebate
Not only does Carrickmacross Credit Union Ltd offer fair and reasonable rates on personal finance, but we also offer a loan interest rebate at the end of the year – making a Carrickmacross Credit Union Ltd loan even more appealing!

If you’re planning on buying a new car, don’t get sucked into the first shiny-looking PCP offered by the dealership. Talk to the team at Carrickmacross Credit Union Ltd today about a flexible car loan that suits you.

Carrickmacross Credit Union Ltd is regulated by the Central Bank of Ireland. Reg. No CU141. 

Notification of Share Cap

By | Latest News

Following due consideration and deliberation, the Board of Directors of Carrickmacross Credit Union Limited has decided to introduce a cap on savings of €40, 000 per adult member and €25,000 per minor member (a minor is classified aged up to 16 years of age) with effect from 1st January 2020.

It is important to note that this limit is based on the member, not the account. Therefore, each adult member is limited to a maximum of €40,000 combined savings, whether they are in a single or joint account.

Members who already have a balance in excess of €40,000, will be allowed to retain this balance but no more than that amount. However, any withdrawals reducing the balance, will limit the maximum the member will be allowed to retain to that sum following any withdrawals.

The rationale behind introducing the cap is as follows:

  • Our total savings are growing by approximately 3.7% per annum and now stands at €1m as at 30/09/2019. In an environment of historically low interest rates, it has become incredibly challenging for Carrickmacross Credit Union Ltd. to find yielding products to invest the balance of these escalating savings that are not utilised in our credit book to our members.
  • Under Central Bank of Ireland regulations, we are obliged to maintain our statutory capital at a percentage of our total assets. In practical terms, this means that for every additional €100,000 of savings, we must allocate €10,000 from our surplus/profits to our Capital Reserve.
  • The approved share cap will affect circa 6% of our current membership. This may prove an inconvenience to these members with savings close to or above the relevant limits nonetheless, the Board of Directors of your credit union must act prudently in the best interest of our membership as an entirety.

Thank you for your understanding in this matter.  Please be assured that we continue to innovate and work hard to protect the sustainability of Carrickmacross Credit Union Ltd.

The success that we have experienced over the years is because of members like you, who faithfully support our credit union. We appreciate your trust and loyalty and we will continue to offer quality products and services in line with your needs.

Interested in becoming a Director on the Board of Directors?

By | Latest News

Do you have expertise and experience in Finance, Accountancy, Risk Management, Strategic Planning, HR, Legal, Investments or Marketing?

Would you like to be involved in your Credit Union by becoming a Volunteer on our Board of Directors?

If so, Carrickmacross Credit Union Ltd. would like to hear from you!

As part of our Succession Planning process, we are always seeking expressions of interest from members of Carrickmacross Credit Union Ltd., with a view to forming a panel of suitable candidates for possible future vacancies on the Board of Directors and various working committees.

We are always seeking enthusiastic, community-minded volunteers, with an interest in the function of the Board and who have the time and skills to fully participate in the decision-making process and the strategic planning for the future of Carrickmacross Credit Union Ltd.

Please take a look at our Volunteer Application Form and read this in conjunction with the Volunteer Eligibility Criteria, and if you feel you would like to know more, please then contact The Nominations Committee by emailing nomcomm@carrickmacrosscu.ie or calling the office on 042 9661937 and a member of staff will pass on your expression of interest to the Nominations Committee.

We would love to hear from interested members, and discuss the role in detail with you.

Carrickmacross Credit Union Ltd. is Regulated by the Central Bank of Ireland.

Christmas Loans at Carrickmacross Credit Union Ltd.

By | Latest News

Christmas. It’s the most wonderful time of the year. That is if you’re not stressed that the cost of it all will financially wipe you out for most of the New Year. If you’re usually down to your last few euro by the end of the month, then the thought of the additional December bills probably has you coming out in a cold sweat. If you’re thinking about a loan to help you through the festive season, make sure you’re getting the most affordable loan you can. And one that is flexible and stress-free.

You should definitely not reach for the credit card, store credit, or even worse, moneylenders/payday loan companies for your Christmas loan. Not only are they far from affordable but the terms and conditions can be complicated and very inflexible.

So then, where should you go for the most affordable Christmas loan this Yuletide?

If it’s a flexible, straightforward, ethical and affordable Christmas loan you want, then Carrickmacross Credit Union Ltd. should be your first stop.


Affordable Christmas Loan Rates

Our Special Christmas Loan is available at the low rate of 5.99% (6.15% APR). When you compare this with credit card interest rates, between 13% and 23% in Ireland, it’s a no brainer. Or, if you choose to use store credit, the interest charged would be even higher. For example, one major, online department store charges a whopping interest 39.9% APR. Not what you want when you’re trying to get in the festive mood.

Stress-free Christmas Loan

Aside from offering very affordable Christmas loans, Carrickmacross Credit Union Ltd. also provides one of the most stress-free loans you can get. This is because we are very flexible. The loan repayments won’t be dictated by the credit union, but will be worked out with you. Your loan officer will discuss with you how much you can afford to pay back per week or per month. If at any time you find the repayments are too much for you, there won’t be a problem. Simply contact your loan officer and they will work out a repayment schedule that will suit your financial circumstances a little better.

On the other hand, if you want to pay back the loan earlier than scheduled, there is no issue with this either. And you will never be charged any penalty fee for doing so.


Better than a Moneylender

A Christmas loan from us is always a better idea than a moneylender or payday loan company. With us you will be getting an affordable Christmas loan. But with a moneylender, you can be charged interest rates as high as 288% in the Republic of Ireland.* And that’s just the rates that can be charged by the licenced moneylenders. (Those regulated by the Central Bank of Ireland). Unlicensed moneylenders could be charging much higher.

So, if you’re looking for an affordable Christmas loan, there really couldn’t be a better, friendlier place to go this festive season than Carrickmacross Credit Union Ltd.

 

WARNING: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future.

Terms & Conditions apply. Carrickmacross Credit Union Ltd. is Regulated by the Central Bank of Ireland.Reg. No CU 141

Now Open 6 Days a Week

By | Latest News

Carrickmacross Credit Union has extended its opening hours and is now open 6 days a week.

The office previously opened five days a week, closing its doors every Wednesday. As and from yesterday, November 6th, the credit union will now open six days a week, Monday to Saturday.

The previous opening arrangements had been in operation for over 35 years and have served the Credit Union and its Members well.

However, as part of a strategic review of operations, the Board of Directors has decided to extend the opening hours to meet continued demand from Members for additional services.

Marian McEnaney, CEO Carrickmacross Credit Union said: “Since our foundation in 1963 we have always tried to meet the financial needs of our Members and have introduced new and improved services progressively over the years. As other financial institutions have reduced and changed the services they provide to the public, the demand for our services, particularly the personal in-office service that we provide, has greatly increased. The extension of opening hours is something that the Board of Directors and Management Team have been considering for some time, and I am delighted that we are now in a position to open our doors 6 days a week. Following the introduction of the new opening hours, Carrickmacross Credit Union will be open to the public for 43 and a half hours per week.”

 

New Opening Hours:

Monday: 9.30am – 5.00pm

Tuesday: 10.00am – 5.00pm

Wednesday: 9.30am – 5.00pm

Thursday: 9.30am – 5.00pm

Friday: 9.30am – 5.00pm

Saturday: 9.30am – 4.00pm

Sunday: Closed

Credit Union Ethos Celebrated on 71st International Credit Union Day

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Carrickmacrross joins more than 89,000 credit unions around the world to celebrate International Credit Union Day® (ICU Day®) on 17th October. The 71st ICU Day® is an important celebration not just for the global movement, but also for Irish credit unions.

In Ireland, credit unions are more important and relevant than ever. There are now 3.6 million credit union members on the island of Ireland, benefitting from €4.9 billion in loans. Lending by credit unions is up by 7.2% year-on-year, as members continue to benefit from affordable and flexible lending terms and conditions.

Credit unions are ethical, not-for-profit lenders that continue to provide effective and viable alternatives to financial institutions which operate for profit. Credit unions genuinely care about their members, and put them at the heart of everything they do. This is why Irish credit unions have won the national customer experience award, CX Award, for a record-breaking five consecutive years. They are the only organisations in the world to have achieved this.

The theme for the 71st ICU Day® is ‘Local Service. Global Reach.’  This is reflective of how each individual credit union serves a local community. Collectively, this local connection has a global effect – there are now 260 million credit union members in 117 countries worldwide.

ICU Day® has been celebrated annually since 1948, and is traditionally marked on the third Thursday in October. The awareness day celebrates the spirit of the global credit union movement. It is an opportunity to reflect upon the credit union movement’s history, promote its achievements, recognise the hard work and share member experiences.

Introducing CuOnline+

By | Latest News

On the 13th of September 2019 we introduced CuOnline+ the new online access to your Carrickmacross Credit Union account. This brings more features and greater security for you.

What is New?

CuOnline+ brings you a fresh and easy to use way of managing your credit union accounts.

With CuOnline+ you can view your transactions, view your personal details and you get:

  • A fresh layout, look and feel
  • Increased functionality
  • Faster online banking
  • A new navigation menu
  • A new user interface
  • Access that is mobile and tablet friendly
  • Greater security when you access your accounts.

New to CuOnline+ ?

Registration for new CuOnline+ members

To register please follow these steps:

  • Go to https://live.cuonline-ebanking.com/screens/MemberRegister.aspx?cuid=49
  • Complete the ‘Account Sign Up’ form. It is very straightforward and should only take a couple of minutes
  • You will be asked to create a Username and Password. A PIN will be posted to your current home address within 10 days
  • Once you enter this PIN, you will be registered for CuOnline+
  • Every time you log in, a security code will be sent to your mobile.

Logging in to CuOnline+

Existing CuOnline users can log in to CuOnline+ with your existing Username and Password.

There will also be stronger security that requires a unique security code.

When you first log in to CuOnline+ you will need to enter your Username and Password,

A unique security code will then be sent by text to your mobile.

 

 

After you enter this security code you will be asked to enter your PIN. Please note that you will only need to enter your PIN once to activate the new security log in. After you enter your pin you will have full access to your online banking account.

 

 

After you log in to CuOnline+, you will be asked to create a memorable word, this is only required when you forget your password and need to reset it.

 

Each time that you log in again, a new security code will be sent to your mobile and your PIN will no longer be required.

How do I add CuOnline+ to my smart phone?

If you are a current user of the mobile app ‘CUAnywhere’ we recommend that you delete the App and add our new CuOnline+ link to your home-screen.

 CuOnline+ is not available to download on the App Store so we recommend that you add the link to your homepage for your own convenience.

How to add CuOnline+ to your Phone

1. Go to https://live.cuonline-ebanking.com/screens/login.aspx?cuid=49

2. Touch the centre icon on the bottom row as seen below

3. Touch the ‘Add to home screen’ option as highlighted

4. Touch ‘Add’ and your new CuOnline+ banking will be featured on your homepage

 

                                    

 

 

Click here for a video tutorial

 

Why will a new Security Code be sent to my mobile?

This is called ‘Strong Customer Authentication’ (SCA) and provides greater security when you access your accounts online. It is part of the EU’s second Payment Services Directive (PSD2) and becomes law for all financial institutions on 14th September 2019.

This Strong Customer Authentication will be used anytime you:

  • Access your account
  • Initiate a payment
  • Create a new payee
  • Set up a recurring payments.

 

 

Importing a car from across the border or the UK? Speak to Carrickmacross Credit Union first!

By | Latest News

Second-hand, imported cars from across the border and in the UK continue to rise in popularity with the Irish consumer. In fact, the latest Consumer Market Monitor (CMM) reports that second-hand cars imported from across the border and the UK will overtake the number of new cars sold in Ireland for the first time ever this year.

While we are firm believers at Carrickmacross Credit Union that shopping locally for a car is the best way to go with some terrific value to be had, we are seeing a surge in car loan queries from people considering buying from across the border or from the UK. We would urge anyone considering going this route to talk to us first. Our special car loan is straightforward, affordable and fair with a great value 7.25% rate.”*

When you arrange finance with us here at the credit union, you are effectively going as a cash buyer to the car dealer, and may well be able to negotiate a better deal. There are also other advantages, including fast approval, flexible terms and there will never be any hidden charges or fees.

Before making the decision to import from across the border or the UK the following points are the most important;

  • Buy from a recognised car dealership and avoid buying privately if possible. Shop around online and ensure you are getting the best value possible. Choose your car before you go.
  • Inform the UK authorities that you are exporting a car by obtaining and filling out the V5C document.
  • You will need to make an appointment for a Vehicle Registration Tax (VRT) inspection once back in Ireland, and you will also need to make the VRT payment.
  • You may also need to pay VAT if the car is less than six months old or has less than 6,000 kilometres clocked up.
  • You will need to purchase new registration plates.
  • Ensure you are fully up to date with all requirements and documents needed for importing a car by consulting the Citizens Information and the Revenue Commissioners websites.
  • Ensure you have also checked out your local car dealership. There is often great value to be found right on your doorstep. Don’t forget you have to factor in the cost of VRT, possibly VAT, new registration plates and fuel to get you home from the UK when importing a car.

** For a €10,000, 5 year variable interest rate loan with 60 monthly repayments of €199.19, an interest Rate of 7.25%, a representative APR of 7.51%, the total amount payable by the member is €11,951.62. Information correct as at 24/09/2019.

 

Carrickmacross Credit Union Limited is regulated by the Central Bank of Ireland. All Loans are subject to approval.

WARNING: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future.

Carrickmacross Credit Union

LOAN DETAILS

 

Christmas Loan - 5.99% (6.15% APR)

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LOAN DETAILS

 

Green Energy Loan - 7.25% (7.51% APR)

REPAYMENTS

 

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LOAN DETAILS

 

Green Energy Loan - 7.25% (7.51% APR)

REPAYMENTS

 

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LOAN DETAILS

 

Green Energy Loan - 7.25% (7.51% APR)

REPAYMENTS

 

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LOAN DETAILS

 

Education Loan - 5.99% (6.15% APR)

REPAYMENTS

 

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LOAN DETAILS

 

5k Net of Shares Loan - 6.99% (7.22% APR)

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LOAN DETAILS

 

Holiday Loan - 6.99% (7.23% APR)

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LOAN DETAILS

 

Secured Loan - 5.99% (6.15% APR)

REPAYMENTS

 

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LOAN DETAILS

 

Summer Sizzler Loan - 8.5% (8.8% APR)

REPAYMENTS

 

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LOAN DETAILS

 

Car Loan - 7.25% (7.51% APR)

REPAYMENTS

 

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LOAN DETAILS

 

Personal Loan - 10% (10.51% APR)

REPAYMENTS

 

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