Tel: 01 4974003 Fax: 01 4977313 Email: firstname.lastname@example.org
CHRISTMAS AND NEW YEAR HOLIDAY ARRANGEMENTS
The Credit Union will be closed from 4.00pm Tuesday 23rd December, 2014
until 10.30am on Friday 2nd January 2015
Merry Christmas and a Happy New Year to all our members
Due to the size of the proposed rule amendments, for approval at the AGM, it is not possible to send them in the AGM booklet.
Harold’s Cross Credit Union has decided to make the amendments, which are being proposed, available on our website for identification by our member.
Please Complete Our Credit Card Debt Survey
At Harold's Cross Credit Union, we're always looking for new ways to help our members effectively manage their finances. We're currently assessing the viability of a special loan product that would help our members pay off their credit card debt quickly, with a credit union loan at much better terms.
By completing our brief survey (link below), you will help us to develop the most beneficial solution. Your input is completely anonymous, so please be honest. Thank you!
Important Notice - DIRT Tax
From 1st January 2014, Deposit Interest Retention Tax (DIRT) must be deducted from all dividend or interest paid to credit union members. This brings credit unions into line with other financial institutions.
Members who can be exempt from DIRT are those who:
• Are aged over 65 (or whose spouse or civil partner is aged over 65),
• Whose total income is below the relevant limit (currently €18,000 for a single person or €36,000 for a married couple or a couple in a civil partnership).
In certain circumstances, members who are permanently incapacitated may also be entitled to an exemption from DIRT.
To avail of this exemption, you must complete a self-declaration form. Please contact a member of staff for more information.
Credit unions in the Republic of Ireland are regulated by the Central Bank of Ireland.
Happy International Credit Union Day!
This year’s theme, Local Service, Global Good emphasises credit unions positive impact in their communities and around the world. It also speaks to the powerful global network of 57,000 credit unions, with nearly 208 million members in 103 countries worldwide and the advantages that result from sharing challenges, experiences and solutions with one another to better serve members.
For over 50 years credit unions have been trusted to meet the financial, economic and social needs in communities across Ireland. They are central to the everyday lives of millions of members. Credit unions remain popular and continue to succeed because we have stayed true to our values and ethos. While the future will bring opportunities for growth and innovation, we will be at the heart of communities, serving members’ best interests.
On Thursday, October 16th, credit unions around the world will join to celebrate International Credit Union Day® and the role that financial cooperatives play in improving the communities they serve and the lives of their members. Cooperatives and credit unions are founded on community service, a principle that has set them apart internationally for more than 150 years. This year’s theme, Local Service, Global Good encapsulates what has long been credit unions’ core principles — service to members and social responsibility.
In an era that continuously poses economic and financial uncertainty for people around the world, this theme honours credit unions’ drive to positively impact their communities and to better serve their members. We are changing to meet members needs, like introducing new electronic payment services, online access to accounts, new Travel and Car Insurances through coveru.ie and a raft of other services like bill pay and foreign exchange...but our ethos remains the same and change will not be allowed to compromise what we stand for, or how we serve members’ best interests.
Credit unions are unique because they are not-for-profit, democratically controlled, member-owned cooperatives. Credit unions pool their members’ assets to provide low-cost loans and other financial services in the best interest of the members, not to earn shareholder profits.
In Ireland, 3.3 million people enjoy the benefits of credit union membership.
This International Credit Union Day, we hope everyone will join us in celebrating the credit union difference, our proud cooperative heritage and the wonderful opportunities credit unions and cooperatives offer members in communities worldwide every day.
Total Cost of Loans at 5% Interest
Harold's Cross Credit Union offers loans within shares at just 5% interest. This means that the money you have deposited with us as shares acts as collateral for your loan. As we have less risk in giving you the loan, we can offer a low interest rate. See how much it would cost to service a loan within shares below, or call into our branch where our friendly staff will talk you through your options and help you to build a repayment plan that suits you.
Free Loan Insurance
No Penalty Charges for Early Repayment
No Documentation Fees
€1,000 for 1 year at 5% — interest €25.44. Total repayment €1,025.44.
€2,000 for 1 year at 5% — interest €51.40. Total repayment €2,051.40.
€3,000 for 1 year at 5% — interest €76.84. Total repayment €3,076.84.
(LOAN MUST BE WITHIN SHARES)
Web Security Update - Heartbleed
The Heartbleed vulnerability only affects websites that use OpenSSL software. www.haroldscrosscu.ie does not use this software and is not affected by this. Members do not need to change login credentials as their details and our website are secure.
We have been assured of this by our web provider. If you haven't used our web facilities yet, please follow the link and register. Soon, you'll be able to check your account balance at any time, get e-statements and even apply for a loan online.
Online Survey - Please Complete!
We'd love to hear your opinions and ideas on Harold's Cross Credit Union and how we can improve our service. We want to hear from members and non-members, so please take two minutes to complete our online survey today. You are not identified to us in any way, so please be brutally honest! Please get your friends and family to complete the survey also. Thanks a million!
Just click on the link below and off you go...
Have you set up a Credit Union Nomination?
You may be aware that the Credit Union Act allows members to instruct that if they die, the value of their savings with the credit union passes to one or more specified persons.
The advantage of this is that on your death, your savings are paid to the person you nominate quickly and without any complicated process involving lawyers or probate.
If you haven’t set up a nomination, we urge you to do so. It doesn’t cost anything, and the payment may ease the stress of your loved ones at the time of your death.
If you have set up a nomination, you should consider if it remains up to date and reflects your current wishes as things may have changed (e.g. change of marital or other circumstances) since you set it up. Amendments are simple to make and are entirely free of charge.
Nominations are easy to set up. All you do is complete a simple form in the credit union. Neither lawyers nor any member of your family need be involved. However nominations:
· must be in writing and signed by you;
· can be set up or amended any time without cost;
· must be set up in the credit union before you die;
· may include savings as well as the proceeds of the credit union insurance;
· cannot instruct that your savings pass to any credit union officer unless they are in your family;
· operate to a maximum of €23,000 only. Any surplus above this amount has to be paid into your estate
· may be cancelled or amended by you at any time;
· automatically lapse on your marriage or where your nominated beneficiary dies before you do; &
· cannot be varied by your will, which allows the credit union to make the payment without any complicated process involving lawyers or probate.
Unfortunately however, nominations cannot be put in place by persons under 16.
Remember: If you have a credit union loan, the credit union’s insurance clears it automatically on your death, subject to certain limitations relating to age, state of health & amount. This means that your savings can be passed direct to your nominated beneficiary without having to be used to clear your loan.
If you want to set up or update a nomination, please ask any credit union officer.