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.

Advantages:

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.

Payment Methods

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.

Express Lodgment

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.

Community Credit Union Online Banking

• View your account balances, statements and transactions.
• Transfer funds to bank accounts or other Credit Union accounts.
• Apply for Loans and use our Loan Calculator.
• Securely message Community Credit Union and upload relevant documents related to your account.

More Information

Life Savings Cover

This scheme offers Free Life Insurance relating to a Member’s Savings. The main terms and conditions are:

• Savings must be made, and maintained, in the Credit Union before the age of 70.
• The maximum insured amount is €12,700.
• The member must be in good health when joining.

Here’s how it works:

If a Member had the following savings in their Shares at their key birthdays and died at 75 years old they would get the following benefit:

The benefit is paid on the EXTRA amount saved between each birthday and the maximum benefit is paid on savings made before the age of 55.

Loan Protection

Where members are borrowing from the Credit Union, there is obviously the possibility that they may not completely repay the loan due to death.

We prefer that they do not have the worry that they may leave a debt for their next of kin so we insure the loan against these risks.

There are some restrictions relating to the age of the member and the size of the loan, but in the main we succeed in covering almost every loan under this scheme.

One important condition is that the member must be in good health when taking out the loan, but even where they may have a pre-existing medical condition, we can usually either partially, if not fully, insure them.

Members Draw

Our very popular Monthly Members Draw is available for all members to join!

The draw takes place on a monthly basis at the cost of €5 per month.

We currently have a top prize of €5,000 along with other cash prizes, so why not join today?

Download the entry form here or ask a member of staff in any of our offices.