Electronic Funds Transfer (EFT)
If you collect a loan or withdraw money from your savings, we can issue either cash or a cheque and are now able to offer you a third option – Electronic Funds Transfer!
We can transfer funds directly to, either your bank account, or another account of your choice, e.g. to pay a bill. The funds will be in your account, and available to you, within 2 working days* of the transaction so, if, for example, you request a savings withdrawal on a Monday, you can draw this money from your bank on Wednesday.
Safer – No need to handle cash which can be lost or stolen.
Quicker – Your money will be available to you within 2 working days*.
*Credit transfers to SEPA countries that do not use euro can take longer to process. This is out of our control and is up to the recipient bank. We cannot do transfers to non SEPA countries.
Community Credit Union offers a number of payment options to enable you to make lodgments into your account (whether to save or make payment off a loan).
Cash – Value for the cash is given and available to you immediately.
Cheque – All cheques must be processed through the bank clearing system before the funds are available. It takes 10 working days for any cheque lodged to complete the clearing system.
Standing Order – Value for the Standing Order is given on the same day that the full details of the payment hit the Credit Union’s bank account and is available to you immediately. Please note that your Standing Order payent takes approximately 2-3 working days before your payment reaches the credit union’s bank account.
Please contact us before setting up a Direct Debit with you bank
Direct Debit – Direct Debit must be cleared by your bank before the funds are available to you. It takes 5 working days for a Direct Debit to complete the clearing system.
Please contact us before setting up a Direct Debit with your bank.
Debit Card – Value for the debit card payment is given and available to you immediately.
You can beat the queue by using the new, easy, safe and secure Express Lodgment Service.
Simply do the following:
- Complete the Memorandum of Lodgment
- Complete and tear off the Express Lodgment Slip
- Place in the special envelope provided along with your cash / cheque
- Fill in your details on the envelope
- Place in the Express Lodgment Box
- Keep the Memorandum of Lodgment for your own records
Express Lodgment is Available at all 4 of our offices.