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 Benefit Insurance

Life Benefit Insurance is the Life Insurance cover your credit union takes out for all eligible members as an additional incentive to save regularly and maintain savings with the credit union. There is no additional direct cost to you, the member.

Who is eligible?

• Members must join before 70
• Members must have a minimum of €250 in shares
• Members must be over 16
• All members gets minimum €1,000 insurance
• Cover up to €16,000
• Based on balance at date of death
• Lodgements made after 70 are insured

Example:

• Mr Smith dies aged 59, with €5,000 in savings. LBI limit is €16,000. To what level of benefit is he entitled?As per chart Mr Smith is entitled to 75% of €5,000 = €3,750

Loan Protection

Loan Protection Insurance is the insurance cover the Credit Union provides on the lives of its borrowing members. This is a free service provided by Community Credit Union to members which means that in the event of death, your loan will be cleared under the below conditions.

• Up to age 70 Max cover of €100,000
• From age 70 to 85 Max cover of €40,000
• Over age 85 No Cover
• Joint Accounts – both members fully covered to the above limits
• Written off loans covered to the above limits.

Exclusions:

If you die within 6 months of the date of your loan due to a pre-existing medical condition, your loan may not be covered by the Credit Union’s policy, in which case your savings, plus any insurance benefit due on these savings, may then be used as security against the value of your outstanding loan.

Example:

Mr Smith dies aged 59, with an outstanding loan balance of €25,000. To what level of benefit is he entitled?

• As the outstanding loan balance is below the coverage limit (€100,000), a benefit of €25,000 will be paid.

Personal Loans Terms & Conditions

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.