Opening Update
Roscrea Credit Union will be closed today the 16th of October due to the red weather alert across the country and advice taken from emergency service organisations. We apologise for any inconvenience caused. We would also remind members that we hope to proceed with our 50th anniversary celebrations from 12pm on Thursday the 19th of October and all are welcome. Roscrea Credit Union Celebrates 50 Years On October 19th
Roscrea Credit Union Celebrates 50 Years On October 19th Roscrea Credit Union Joins 68,800 Credit Unions to Celebrate the Global Credit Union Movement on Thursday October 19th. On the same day the Credit Union will also celebrate 50 years’ service to the local community. The credit union has a range of events planned from around 12pm that day. All are invited to come along. Competitions, Music and refreshments will be on offer with plenty of additional entertainment. To celebrate the Credit Union’s 50th anniversary an exhibition of photos will be on display. Many of the photos have appeared recently on the credit union’s Facebook Page bringing plenty of positive comment from both members and non-members. Representatives of the Management, Board, and Board Oversight Committee of Roscrea Credit Union at a typical credit union board meeting which includes lots of reporting and numerous presentations all aimed at protecting the credit union and planning strategies for future growth and development. Since 1967, Roscrea Credit Union has been proudly serving the local area. Roscrea Credit Union now has a membership of almost 10,000 with savings worth approximately 32 million. In the past year alone Roscrea Credit Union has provided over three million in loans within the community. To celebrate their own achievements as well as those of the global credit union movement, the credit union has planned a number of festivities to mark International Credit Union Day as mentioned above. Speaking this week, Manager, Brian King said the timing of international credit union day coupled with our 50th anniversary celebrations is excellent in that the credit union has recently extended how much it can lend each month and how much it can lend to each individual member. In addition the credit union has moved to extend the loan duration on certain types of loans making it easier for members to borrow. All in all Brian said its excellent news for members and excellent news for borrowers who can avail of a variety of loans from Roscrea Credit Union at very competitive rates. The Chairman of the Credit Union Sean Hogan said this week that while the credit union has a wonderful 50 year history it did fall on difficult times in 2010 and credit must go to the Manager Brian king, all his team and all the volunteers that have worked so hard since then to ensure that the credit union has a viable and exciting future. The Chairman said thousands of voluntary hours were contributed by officers and staff members that realised the enormity of the challenge facing the credit union and the changes needed to help bring us to the very positive position that we find ourselves in today. The Chairman said he has enjoyed looking back on photos of the past fifty years and he would like to thank anyone associated with the credit union that made a positive contribution during that period. Pictured are many of the Management, Staff, Volunteers, and Board Oversight Committee members that form an integral part of the credit union. Back Row L/R: Eoin Shanahan, Dick Conroy, Ena MacMahon, Aoife Flaherty, Michael Lorigan, Rosaleen Ryan, Mary Crean, Martha Hogan, Marie Carroll, Ger Slattery, Siobhan Moloney, David Dooley, Dymphna Breen, Gemma Loughnane, (Chair Of The Board Oversight Committee) Rowena Mitchell (RCU Secretary), Pat McCabe, Sandra Cooke, Mary Mullally, Pat McGee (Board Financial Spokesperson) Front Row L/R Mai Phelan, louis Cooley, Brian King (Manager), Liam Phelan (Vice-Chairman), Sean Hogan (Chairman), John Hanamy, Jim Bolger, Patsy Treacy The theme of this year’s annual credit union day celebration is ‘Dreams Thrive Here’ which was chosen to reflect how credit unions serve as catalysts to make different personal choices and career paths a reality. Worldwide, 68, 882 credit unions in 109 countries serve 231 million members. In Ireland, as in other countries, credit unions with their not-for-profit and member-first ethos provide effective and viable alternatives to for-profit financial institutions. Speaking about the activities Brian king said like all credit unions, Roscrea Credit Union shares a common goal to offer access to affordable financial services to all of our members. On the day of celebrations Roscrea Credit Union will release 50 balloons. In each balloon is a ticket and anyone that finds a ticket and presents that ticket at the offices of Roscrea Credit Union on or before October 31st 2017 will be presented with a prize. Also on the day music will be provided by Dinny Quirke and Anthony Bourke who always give a great performance and in addition to all that the latest cash draw will take place. Brian also mentioned a special community project that the credit union has embarked upon as part of it’s 50 anniversary celebrations. Brian King said that details of that project will be announced in the coming weeks and that people from the local community will hopefully be very happy with the result. Exciting times indeed for all at Roscrea Credit Union. Roscrea Credit Union Cash Draw Summer 2017
Roscrea Credit Union Cash Draw Summer 2017 The much anticipated Roscrea Credit Union Summer Cash Draw took place recently. M.C for the evening was the Manager of Roscrea Credit Union, Brian King. Brian King thanked all those in attendance for their support of the draw and their support of their local credit union. Brian King thanked Mary Crean and Rosaleen Ryan in particular for all their help with the draw. Brian also thanked the Chairman of the Credit Union, Sean Hogan who makes time for each draw and local photographer P.J Wright who also attends each draw. Brian King said that owing to new procedures and ways of administrating the draw this was the first draw we have had in 2017. Brian said that all members would have received notice that the cash draw entry can no longer be funded from a member’s share account. For this draw and all future draws Brian reminded everyone that funding must come from a member’s current or growth account. Congratulations to all the winners of the Roscrea Credit Union Summer Cash Draw. Pictured are the participants, their supporters, staff, management and board of the credit union. Please ensure that you have enough money in your Roscrea Credit Union Current Account to fund your entry to our next draw which is scheduled to take place in mid-autumn. Now that the draw has been restructured Brian took the opportunity at the cash draw to ask participants to please remind all members that they encounter that the minimum requirement for entry into our draw is for members to have at least €5 in their share account and at least €10 in their credit union ‘current’ or ‘growth’ account every quarter. Brian said that the draw is self-funding which means the more members that are part of the draw, then the greater the overall prize fund will be. Over the years Brian said that over €1,000,000 has been won by credit union members in cash prizes. Brian said that at all draws he and credit union personnel encourage the lucky winners that intend spending some of their prize money to please do so locally as Roscrea is a town very dependent upon the sme sector. Brian said that all support is greatly appreciated by local businesses that have no doubt benefited considerably from member winnings over the years. Watched on by Brian King and Sean Hogan, young Adam draws a winning ticket of €1000 for Linda Treacy. Brian King gives instructions to the eventual winner of €3000 at the Roscrea Sumer Cash Draw, Hilary Bevans from Shinrone, while the Chairman Sean Hogan officiates in the background. The winner of the night’s grand prize of €7,000.00 was Martin Daly from Ballybrophy. Congratulations to Martin and all the other winners on the night including Hilary Bevans (€3000), Theresa Dooley Egan (€2000) Sarah Hoolan (€1500) and Linda Treacy (€1000). A big thank you to Adam who helped Linda draw her ticket and to Marcella who was on hand to draw Martin’s lucky ticket. Brian King congratulated all the winners and thanked Ena MacMahon, Gemma Loughnane from the Credit Unions Board Oversight Committee, Sean Hogan (Chairman) and John Hanamy (Director) for overseeing the draw for the participants. Brian also thanked Eoin Shanahan (Volunteer) for all his efforts and concluded by announcing that the credit union was in the process of launching a very competitive education loan which he encouraged all those gathered to promote on behalf of their locally owned credit union. Sarah Hoolan makes her choice and is happy to win €1500.00 in the Roscrea Credit Union Summer Cash Draw Traditionally the cash draw has taken place every quarter. The draw costs just €10.00 per quarter and represents great value and great odds when compared with many other draws. To enter, you must be a member of the credit union but new members are of course always welcome at Roscrea Credit Union. To help ensure that you are part of the draw every quarter we recommend that you avail of Roscrea Credit Union’s direct debit service. This is only a recommendation and not a mandatory requirement. New members are always welcome and further details are available from www.roscreacu.ie or by dropping in to the office where you will receive a warm welcome. The more people that enter the draw, the greater the prize fund will become. Roscrea Credit Union Slashes Its Education Loan Interest Rate
Roscrea Credit Union Slashes Its Education Loan Interest Rate Roscrea Credit Union has slashed it’s interest rate for education loans. In 2017, many families will see their child or children off to college for the first time, others will see their children return. For these families, this can be an extremely stressful time, as the cost of third level education continues to spiral, having a huge impact on family budgets and household spending. In addition as children in the area of Roscrea Credit Union’s Common Bond enjoy their freedom from school, parents are already preparing to shoulder the burden of the back to school spend which has now averaged €1,209 per child. The latest research by the Irish League of Credit Unions reveals that back to school expenditure continues to increase – and is up 2% on 2016 and over 4% on 2015. With costs this high, it’s not surprising that almost three quarters of parents say the back to school spend is a financial burden, with 29% saying they will get into debt because of it. A substantial one in four say they will be forced to deny their children basic school items this year because they cannot afford them. Roscrea Credit Union would like to remind their members that the credit union is here to help. We have listened to members from our local community and their needs and we are delighted to announce the launch, this week, of a new education loan at 7.9% which can help families in the local area manage these costs. By offering education loans at a very affordable rate, Roscrea Credit Union can ensure that the loan terms are structured in a way to suit every individual situation best. There are no hidden payments or transaction fees, and the loan is less expensive than using a credit card or moneylender. The decision to cut the rate from 11.5% to just 7.9% which works out at just 8.22% APR was done so to help give support to loyal members at a rate that we believe is more competitive than any of the non credit union financial institutions that we have benchmarked our rates against for this particular type of product. Roscrea Credit Union staff and management pictured here some time ago with just some of the students from Colaiste Phobal who will receive their leaving cert results this week. The Credit Union has a long association with the school and wishes all the leaving cert students from the Colaiste and neighbouring schools every success for the next stage of their lives. Speaking about the options available at Roscrea Credit Union to help cover education costs, Brian King, Manager, said: “With more than a quarter of parents saying the back to school spend will negatively impact on household bills, we understand that this time of year can be stressful for primary and secondary school parents coupled with parents helping out their children that are embarking on or are already involved with third level education. Brian said Roscrea Credit Union is there to help. The Manager said that we are especially encouraging parents who know they will need to borrow to talk to us first at Roscrea Credit Union before considering a moneylender or credit card, or another financial institution where the interest rates are likely to be higher.” Brian King said that loans can be administered from one year up to a five year period with amounts varying depending upon the circumstances of the loan. The Manager was also keen to point out that the Credit Union is also there for those who would like to further their education through adult education courses etc or those who need equipment such as laptops, pc’s, tablets etc to support their studies. When asked about the Credit Union’s involvement in local education, Brian said Roscrea Credit Union has a long and proud history of supporting local schools and he had no doubt that students, teachers and parents are very much aware of this support and how important a role the credit union plays in it’s local community. Sean Hogan the Chairman of Roscrea Credit Union continued: “Almost six in ten parents will shop online this year in order to cut costs and we would always encourage parents to shop around, both in local shops and online, to see where they can get the best deals. If you do need a loan, pop in to see us at Roscrea Credit Union and we can talk you through the best option for your circumstances.” For example a €1000,00 education loan over one year with a variable rate of 7.99% (8.22% APR) would cost €20.02 per week with a cost of credit of €43.33. The total amount repayable by the member would be €1043.33. For more information Sean encouraged members or perspective members to please call or drop in to see us at Roscrea Credit Union. (Terms and conditions apply and RCU is regulated by the Central Bank Of Ireland) On a final note, well done and congratulations to all the leaving cert students of 2017 and best wishes to all our members returning to college or starting college for the first time this autumn. Please do remember the importance of the local credit union in your community as you embark upon the next stage of your lives. Unlike banks you the member own your local credit union and your support is always appreciated. New members are always welcome. Save Yourself A Lot Of Money With A FREE Financial Review Service At Roscrea Credit Union
Save Yourself A Lot Of Money With A FREE Financial Review Service At Roscrea Credit Union After 18 months of hard work, Roscrea Credit Union has formed a strategic alliance with CU Insured Ltd, one of Ireland’s leading and most innovative Insurance Intermediary companies, to provide it’s members with a FREE financial review and access to a comprehensive (whole) range of financial products and services. Roscrea Credit Union is one of only eleven credit unions in the country given permission by the Central Bank, to date, to enter this arrangement. The Manager of Roscrea Credit Union Brian King and the Chairman Sean Hogan welcome their new partners CU Insured to Roscrea. L/R: Mike Mulrenan, Ger Slattery, Brian King and Sean Hogan It’s a completely FREE service to Roscrea Credit Union members, provided by CUinsured. CUinsured is set up as an independent Financial BROKERAGE utilising a ‘state of the art’ system whereby it can ‘shop around’ for the best value plans tailored to members individual circumstances. Its works within the family budget and all existing plans are taken into account, in any advice given. Cuinsured has access to all the main providers of financial services and similar to your car or home insurance – we can ensure members get the best deal in the marketplace. Brian King the Manager of Roscrea Credit Union spoke about the service recently. Brian said that Roscrea Credit Union had spent eighteen months putting a rigorous plan in place to ensure that Roscrea Credit Union would be in a position to be one of the first eleven credit unions in the country to provide this service which compliments an ever expanding range of products and services currently available from Roscrea Credit Union. Brian welcomed CU Insured to Roscrea Credit Union, thanked all the volunteers and staff for their support and in particular thanked Eoin Shanahan who he said was a great credit union volunteer and is very much involved in the overall project. Ger Slattery from CU Insured pictured with just some of the credit union team who will help to make the partnership between Roscrea Credit Union and CU Insured a great success. L/R: David Dooley, Siobhan Moloney, Ger Slattery, Martha Hogan, Ena MacMahon and Deirdre Hogan Sean Hogan the Chairman of Roscrea Credit Union said that the new service would be most welcome by credit union members. Sean said it was important to the credit union extend its range of services to the member. Sean Hogan said that a number of members had already contacted him to say how delighted they were at the advice given and the savings that they have made as a result. Sean stated that apart from offering a free financial review/healthcheck, members will be given the opportunity to potentially save hundreds of euros per year on life assurance, mortgage protection, income protection and serious illness cover etc. Brian king said it’s important that credit unions position themselves as a real alternative to the banks. Brian said that this new service coupled with plans for a new online banking service and web app will help ensure that the credit union remains relevant to all its members. Brian said that not only is the service available to members but that anyone that is not a member of the credit union is invited to make an appointment. If that person then decides to make another great choice by joining Roscrea Credit Union, they will be most welcome. Mike Mulrenan MD and partner, Eamon Lynch set up CUinsured specifically to cater for the needs of Credit Union members. Roscrea Credit Union as mentioned is one of the first eleven Credit Unions throughout Ireland to go live with this groundbreaking, on-site financial services provision. Indeed, CUinsured is the first financial company in Ireland to do this. “We understand the culture of the Credit Union as a mutual society,” says Mike. “Our emphasis is on putting the members’ best interests first and foremost, which is what the ethos of the Credit Union is all about and what is severely lacking in the approach of the banks and other commercial financial institutions.” “The market place has changed greatly in recent years. There is a lot of bad feeling towards banks since the financial crash in 2008 and since then the Credit Union has emerged by far and away the most trusted financial institution in the country.“ “Just recently the Credit Union was voted the most trusted brand in Ireland for the second year in a row and we think that the timing is perfect to be able to offer a range of financial services on-site in Credit Unions that have been traditionally offered through the banks.” “We offer an independent view of the marketplace and are able to recommend whichever product best suits the client’s needs not just promoting a particular bank’s own products or indeed one particular life company’s products.” “It’s a service we want to make exclusively available to Credit Union members. We believe it offers a good incentive to enable the Credit Unions to attract new members on the back of being able to access our service.” Each member can book an appointment with our financial advisor, Ger Slattery, who is now based in the offices of Roscrea Credit Union, 5 days a week. The meeting can take place at Roscrea Credit Union or any other venue or time of your choosing. Ger can provide access to a full range of financial services such as: life assurance, serious illness, income protection, investments, unit linked savings, pensions, and estate planning. All aspects of financial planning are covered. Ger Slattery is an experienced Qualified Financial Advisor who has worked for a number of national financial services providers on a local as well as national basis. He is based in the local vicinity and has a comprehensive knowledge of the issues affecting local Credit Union Members “Whatever your financial needs or requirements are, we have the ability to provide you with advice in any of those areas,” says Ger “This should make it a much easier decision for members to actually avail of the services.” Their focus isn’t just on offering new policies, CUinsured is aware that many members with existing policies may be paying over the odds for a package that doesn’t suit them. “We offer this service for two reasons,” explains Ger, “one is to make sure that their existing policy meets their current financial requirements and second is that they are getting whatever they have at home at the very best rates that are available in the marketplace.” “Our belief is that there are a huge number of people who very rarely review the types of policies we’re talking about. If they haven’t reviewed it, there is a huge opportunity for them to save money on their current outgoings.” “It is our aim to always be looking after the Credit Union members’ best interests,” explains Ger “Having fully secured the approval of the Board of Directors at Roscrea Credit Union, members can feel confident in the services offered by CUinsured”. “To be able to secure this relationship with such a high profile Credit Union who are willing to support and sponsor our particular product offering should be a significant confidence booster for its members” said Ger who also added that the professionalism and the enthusiasm that he has encountered on all his visits to Roscrea Credit Union to date is infectious and second to none. Brian said this is a massive compliment to the management team the staff and the volunteers who have had a very challenging number of years and want to see their credit union be the very best it can be. Brian said that the credit union must ensure that it has mechanisms in place to deliver on the credit union’s vision which is to understand the financial needs of its members and to seek to satisfy those needs on a co-operative basis through the provision of appropriate quality services to the benefit of its members and the community at large. Brian said CUInsured has played a huge role in allowing the credit union to do this. Brian also welcomed Ger Slattery to the team. Brian said that Ger will certainly be known to GAA supporters, in particular, having won many honours with Kiladangan one of North Tipperary’s most prominent clubs. Brian added that the Credit Union has been supportive of many local clubs, groups and organisations over the years and if any of them would like to get in touch about a collective talk on what Roscrea CU and CU Insured can do for them then they are most welcome to get in touch. Sean Hogan concluded by extending his best wishes to CU Insured who hope to employ up to thirty employees throughout the country by the end of 2017. Sean reminded Roscrea Credit Union members that this is a great opportunity for them all to get something really great for free and he thanked all the existing members for their continued support of their local credit union. Drop into Roscrea Credit Union to have a chat to book a free, no-obligation appointment for a review of any existing policies you may have. Alternatively please call Ger Slattery on 085 8670063 or email: Gerald@cuinsured.ie We would highly recommend calling into meet Gerald Slattery in Roscrea Credit Union. Ger is extremely accommodating and professional. Gerald took the time to educate us on our insurance and investments and inform us about various options and what would be best for us. Gerald always has his clients best interest in mind…….Yvonne and Gary Parr A big thank you to Ger, CU Insured and Roscrea Credit Union. Coming in to meet with Ger has proved to be a wonderful decision. Once we explained our financial position, Ger took care of all the rest. We never felt in any way under pressure and we were delighted with the advice we were given and which we decided to take. We would highly recommend this new service…………Viktorija Narusyte and Arnis Austrums