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NEWSLETTERCCU Connect Issue 9 Summer/Autumn 2014

Busy times at your Credit Union!Members following the media for the past year will be aware that there is a great deal of activity going on within Credit Unions. Last year most of the provisions within the Credit Union and Co-Operation with Overseas Regulators Act 2012 (CUCORA 2012) came into law. This meant that a number of internal changes were required in relation to how Credit Unions operate. Some new committees were required, new roles were created and improved operational standards introduced which have to be maintained on an on-going basis.

In August 2013 “Fitness & Probity” Standards were commenced for certain roles and this was extended in August 2014 for most officers. This requires us to set standards of competence and integrity for specific roles, ensure that everyone meets that standard and be able to demonstrate this. The latter half of 2013 also saw the development of our Strategic Plan which will guide us over the next three years. The plan was developed both as a matter of best practice and a regulatory requirement. It identifies our strengths and weaknesses and sets out a strategy through which we will meet these challenges.

This is all really worthwhile and will put us in a better place for the future but, it has meant that we needed to divert resources, to deal with these areas, which we had intended using for service development so we are behind on introducing some new services that we had planned for this year. Happily, however, we are now able to refocus our efforts on some exciting new service options for our members to be introduced before the end of the year.

Restructuring of the Credit Union MovementThe other big story at present is the ongoing process to restructure the movement. Essentially it has become more difficult and costly for Credit Unions to operate in the enhanced regulatory environment and meet the competitive pressures that affect us. For all Credit Unions income has reduced, expenses have gone up and we must continually strive to improve our services to meet members’ changing needs.

The accepted wisdom is that we must reduce the number of Credit Unions and this is mainly achieved by merging one, or more, into larger Credit Unions. Your Board supports this development and we were the first substantial Credit Union in the country to complete this process from which we created Community Credit Union in 2010. Again, this will generally be a good thing for Credit Union members as it should mean that they are part of a stronger Credit Union that is in a position to offer a wider range of services.

Credit Union Loans For the past number of years we have seen a decline in borrowing as members sensibly curtailed their borrowing in light of the uncertainties of unemployment and increasing taxes and charges. We are now seeing some positive signs of a real improvement in our economy in the requests coming in from members for new loans for home improvements, cars and other purposes. We are well placed to meet members’ needs and it is worth noting why a loan from your Credit Union is often the best choice.

• Prompt Service We have streamlined our loans processing procedures and usually can give an answer very quickly if not on the spot!

• Tailored Repayments We take the time to ensure that you get the right loan for you with affordable repayments matching your needs.

• Fair Interest Rates As our goal is only to cover our operating costs and not to make a profit, our interest rates are often the lowest available and there are no extra charges.

• Free Life Insurance Almost every loan that we issue comes with free life insurance. This means that in the unfortunate circumstance where a member with an outstanding loan dies, or becomes permanently unable to work, the loan is repaid by the insurance company.

• Friendly Service In your Credit Union you are a “Member” NOT a “Customer” – This means that we are on your side and will do everything we can to help you.

• Be Part of Your Community The financial crisis of the past 6 years has shown us that, when the going gets tough, we can only rely on our family, friends and our neighbours. By putting your borrowings with your Credit Union you are not only getting a great deal but you are also supporting an organisation that looks out for you and your friends and neighbours.

Message from Our President

Stephen Harrison, President

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WE LOOK AT THINGS DIFFERENTLY

CCU News

Some final thoughts…Credit Card Debt? If you have an outstanding balance on your credit card you are probably paying 20% or more for the privilege with little hope of getting out of this debt trap. A properly structured Credit Union loan could get you out of this situation and save you a lot of money.

Need to change your Car? Modern cars are more fuel efficient and cheaper to run than older ones. It might make sense for you to change but how do you get the best deal? Many garages offer a good price but want you to take a finance package that may not be so good. Others offer a good finance package but it may be tied to a car that is more expensive than you need, which you will not own until the end of the payment term. Why not get the best of both worlds? Choose a tailored Credit Union loan for your finance and then choose the car you want as a cash buyer.

Home Improvements? Are you thinking that finally, you can change your kitchen or upgrade your bathroom? Or how about considering going “green” and improving the heating or insulation in your house to make it more comfortable and save money on expensive energy bills. Again, we can tailor a loan to suit your needs and you may be able to benefit from one of our special rates.

Need a small Loan? Processing small loans is not very profitable hence most banks apply a minimum loan size which may be more than a person wants. In your Credit Union we have no difficulty in meeting members’ needs for small amounts be it for Christmas, Back to School costs, or any worthwhile purpose.

Switch Your Loan Are you getting the best value on your current loans? Why not check what you are paying. It may be worthwhile switching some of your current borrowings to your Credit Union. Simply gather up the details of your current borrowings and contact us for a no obligations chat.

Stephen Harrison President

Staff NewsWe would like to take this opportunity to let you know about staff changes that took place over the last few months.

Marianne Kinirons (Supervisor), who commenced a career break to explore new interests, joined us again a few months ago and we are delighted to have her back! She now works between the Blanchardstown Centre Office and the Navan Road Office.

Natasha Ryan-Moyles, who had primarily supervised the Navan Road Office, now splits her time with Audrey Carr (Supervisor) between the Navan Road Office and our Laurel Lodge Office.

Emma Carson, who worked part-time between the Laurel Lodge Office and Blanchardstown Centre office as a Member Service Officer, has now moved into our Finance Department.

We would like to welcome Sarah Fagan and Katie Sheppard who joined our Member Services Team and predominately work in the Blanchardstown Centre Office but, like all our staff, may work from time to time in our other offices.

John Long, who was based at our Blanchardstown Centre Office, has retired. John was originally a director on the Board of Clonsilla Credit Union and became a member of staff in 1999. He was known for his sunny disposition, was always in good humour and will be greatly missed by fellow staff and members. We wish him every success and happiness with his new endeavours.

Congratulations to Donna Hilliard who had a baby earlier this year and joins us again in August.

Training & Education Aoife Barron and Sinead Murray successfully completed the Diploma in Credit Union Studies (Pathways Programme). Deirdre Murphy, Des Boylan, Marie Murray and Tom Brady have all completed the Certificate in Credit Union Studies (Pathways Programme). Tom has also successfully completed a Professional Certificate in Credit Union Compliance.

Aidan O’Brien and Maureen Brogan obtained the Professional Certificate in Credit Union Management, Control and Supervision.

Want To Get Involved As A Volunteer?Community Credit Union exists for the benefits of its members. It is staffed by members for members. We rely a great deal on the services of our valued volunteers who commit tirelessly to the success and sustainability of our Credit Union. These volunteers sit on the various Committees and our Board of Directors, so they are fundamental to our past, present and future. Every Credit Union needs a team of volunteers dedicated to ensuring a strong and viable future for all of our members. An individual can develop both personally and professionally by volunteering. The benefits of Credit Union volunteering include:

• Gaining skills and experience with a professional financial service provider

• Education and training

• Personal development

• Meet new people from the community

• Work on developmental and business projects

• Give something back to the community

Finance, information technology, management and communications skills are particularly welcome. However, any ability to make a contribution is appreciated. There are policies and training in place to support volunteers in their roles. In addition to the induction training programme for all new volunteers, ongoing training is available and people are encouraged to develop various skills. Credit Union committees offer an excellent starting point for new volunteers. These committees provide experience, learning and an active role within the Credit Union. Once a volunteer has served the Credit Union at committee level for a period of time, and training needs have been identified and addressed, a role as a Director or Member of the Board Oversight Committee may be considered.

The Credit Union may refuse an offer by a member to work as a volunteer and, where appropriate, will give a reason for that refusal as Community Credit Union is bound by the standards of Fitness & Probity, issued by the Central Bank of Ireland.

Apply today, by contacting info@communitycu.ie or phoning 01 838 6406. Please quote “VOLUNTEER” when making contact.

Next NewsletterIf you have any information you would like to see included in our next Newsletter, we would encourage you to email newsletter@communitycu.ie

communitycu.ie info@communitycu.ie

W E L O O K A T T H I N G S D I F F E R E N T L YCredit Unions in the Republic of Ireland are regulated by the Central Bank of Ireland.

Your Credit Unionwants YOU.Find out what a difference you can make as a Credit Union Volunteer by visiting

creditunion.ie/volunteer or by asking at your local Credit Union.

Volunteer posters_Layout 1 09/01/2012 13:40 Page 1

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Our Community

Making the Most of Short & Precious Lives

In this issue, we are delighted to profile LauraLynn. LauraLynn is Ireland’s first and only children’s hospice. Since LauraLynn House was opened in September 2011 by President Mary McAleese, hundreds of families across Ireland now have access to respite, home support and end-of-life care for children with highly medically dependent or terminal conditions. LauraLynn House is a specially created palliative care unit located in the grounds of the Children’s Sunshine Home, Leopardstown. Every year there are approximately 420 child deaths

and more than 4000 children living with life limiting conditions in Ireland. The monies required to build LauraLynn were 100% generated through fundraising. It cost €5.5 million to build and fit-out the hospice and now costs €2.4 million to operate each year. To date, LauraLynn House has received no state funding for operating costs. Fundraising income goes towards 24:7, 52 weeks a year palliative and supportive care to children and their families, as well as the educational and training required to support the development of a specialist children’s palliative care team.

We would like to help you promote your club or group. If you have an event that is coming up, have achieved success in your area of activity, or would simply like to let other people in the community know who you are and where to contact you, please let us know and we will include information about you in our next Newsletter and on our website. You can send your email and/or photographs to communityevents@communitycu.ie.

The Children’s Sunshine Home Hospice Project was launched in 2005. At the same time, the LauraLynn Children’s Hospice project was established by Jane and Brendan McKenna, who began fundraising in 2001 after their daughters, Laura, four, and thirteen year old Lynn, died within two years of each other of unrelated illnesses. By a tragic co-incidence, Lynn was diagnosed on the same day that her adored little sister died in the operating theatre. Having had personal experience of the lack of respite or specialist care for children with life-limiting conditions, Jane and Brendan dreamed of building a hospice dedicated to their memory. They continue to work tirelessly raising funds.

“On behalf of both our Board of Directors and our clients, we would like to thank Community Credit Union most sincerely for your generous donation to our charity as sponsorship of Robbie Mooney doing the El Camino walk in August ’14 on our behalf. This helps us to meet our increasing demands in terms of the number of clients we can support and the provision of additional services to those affected by addiction.”Finbarr Fay, Secretary – SharingPoint

communitycu.ie info@communitycu.ie

We couldn’t do what we do without all our wonderful supporters. For more information and how to get involved, visit lauralynn.ie, follow on Facebook and Twitter or call 01 289 3151.

In Focus

communitycu.ie info@communitycu.ie

Why stand in line when you can:

Just pop in and pay - the convenient way!PayPoint is the more convenient way to pay your household bills, top up your mobile and make other payments in cash, at your Credit Union. We offer the perfect opportunity to pay your bills while sorting out your finances when you visit any of our offices!

You can make lots of different types of payment at PayPoint. Just hand your bill or card a staff member with your payment and we will do the rest. You get a receipt for every payment you make, and your customer account is credited the next working day.

Payments are collected on behalf of some of Ireland’s biggest bill issuing companies including Bord Gais, Electric Ireland, Eircom, NTL and Chorus (UPC), with more due to join the PayPoint network in the coming year. And, as well as paying your bills, you can also buy and top up Swiftcall and First National international calling cards, buy and recharge your IDT - Unity, Lime or Super Calling Cards and top up your Vodafone, Meteor, O2, 3Pay and Tesco Mobile mobile phones.

“On behalf of Foroige Flames we would like to thank Community Credit Union for their kind donation towards the trip. We will be taking photos and will send them to you!”Chris Sullivan, Volunteer Leader – Foroige Flames

“The long term nature of our relationship and the common focus on the local community is very important to Castleknock Hurling and Football Club. In this context Community Credit Union, through its sponsorship of our games, makes an enormous contribution to the lifeblood of the local community and to the development of our young people. It would be impossible for the club to successfully field all our underage teams without the sponsorship support of Community Credit Union.”Pearse Tolan, Fundraising Co-ordinator – Castleknock Hurling & Football Club

Beat the Queue!

more services and better value for our members!

Visit any of our offices

Pay by Direct Debit or Standing Order

Access your account details 24/7 by registering online at

communitycu.ie

Use the easy and secure Express Lodgement Service

at our Blanchardstown Centre Office

Deposit documents into the Drop Box at our

Blanchardstown Centre Office (just inside the entrance)

Apply for a loan over the phone or on the website

Youth Zone

communitycu.ie info@communitycu.ie

W E L O O K A T T H I N G S D I F F E R E N T L Y

Back to school loansYou need go no further

Loans are subject to approval. Terms and Conditions apply. Credit Unions in Northern Ireland are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority

creditunionni.co.uk

The wise choicefor student loans.

LOANS

W E L O O K A T T H I N G S D I F F E R E N T L Y

Loans are subject to approval. Terms and Conditions apply.

Credit Unions in the Republic of Ireland are regulated by the Central Bank of Ireland.

✔ Back to School loans to cover purchase of school books, school uniforms, grinds etc.✔ Designed to meet all education or training needs✔ Free Loan Protection Insurance and Free Life Savings Insurance at no extra cost to you✔ No set up fees✔ No hidden fees✔ No transaction charges✔ No penalties on early repayments, lump sums or clearing of loans✔ Easy application process and a quick decision✔ Repayments are tailored to suit members’ needs✔ Repayments can be made by Direct Debit or Standing Order direct from members’ bank account.✔ Repayments are calculated on your reducing balance, so you pay less interest with each payment✔ The loan can be applied to either the parent’s account or the minor’s account with the parent signing as guarantor

For more information on applying for a loan, visit communitycu.ie, phone us on 838 6406 or call in to any of our offices to speak with a member of staff.

“Every year we start our fundraising efforts afresh, and I would encourage everyone to get involved in making this year’s Summer Project the best ever. We are very grateful to the ongoing support of our friends at Community Credit Union.”Amanda Britton, Fundraising Co-ordinator – Riverston Abbey Summer Project

Credit Union Education LoansFacing Back To School Costs?Going To College And Worried About Fees And Expenses?Thinking About Continuing Your Education?

Community Credit Union has an Educational Loan to help our members with expenses associated with ongoing education.

Whether it’s to pay for school uniforms or books in Primary or Secondary school or the increased expenses and fees associated with Third Level Education or continuing adult education, our Education Loan at a rate of 7% (APR 7.46% based on weekly payments) is one of the most competitive Educational loans available anywhere.

For those starting third level education, this is a very exciting time and often marks the beginning of your financial independence. Part of the fun of being a student is learning how to make ends meet – no matter how limited the means may be! The good news is that Credit Unions have emerged as being significantly cheaper for education loans than banks and building societies.

What’s so different about a Community Credit Union education loan?✔ Credit Union interest rates are fair and reasonable and capped by law✔ Student Loans for those attending Third Level Education or further Education✔ Adult Education Loans for those who may be doing any form of night courses or furthering education

Example: A loan of €1,000 paid with 52 weekly payments at the rate of €20 per week.

Total amount payable €1,036.90.APR: 7.46% - Variable

Loans are subject to approval. Terms and conditions apply. Community Credit Union Limited is regulated by the Central Bank of Ireland.

W E L O O K A T T H I N G S D I F F E R E N T L Y

Loans are subject to approval. Terms and Conditions apply. Credit Unions in the Republic of Ireland are regulated by the Central Bank of Ireland.

College is expensive. And there's a lot more to pay for than fees.

Your credit union can help you by tailoring a student loan to suit your needs and circumstances.You could say it's a pretty sweet deal.Contact your local credit union or visitvisit creditunion.ie

Flexible student loansat a great ratesweet‘ ’

Terms & conditions apply: Answer the questions and enter your contact details. Closing date: Friday, 26th September. The draw is open to members only. One entry per member. Decision of the Board of Directors shall be final as to the winning entry.

Terms & conditions apply: Answer the questions and enter your contact details. Closing date: Friday, 26th September. The draw is open to members only. One entry per member. Decision of the Board of Directors shall be final as to the winning entry.

Competition

communitycu.ie info@communitycu.ie

You could win a fantastic cash prize to the value of €250 by visiting our website communitycu.ie and answering 3 simple questions!

Our NewsletterCompetition!

Enter Competition

COMPETITIONCash Prize€250

Congratulations to Marie SC Fine,winner of our last Newsletter Competition.

1. Our Education Loan Rate is APR 7.46%. True or False? _________

2. We have an Express Lodgement service in our Blanchardstown Centre Office. True or False? _________

3. We are looking for volunteers. True or False? _________

For those members who would prefer to submit your entry in person, please read this issue of our Newsletter and answer the following 3 questions:

If you have any questions, please feel free to ask a member of staff.

Best of luck to everyone!

Name:

Account Number:

Email Address:

Please tear at the dotted line and drop your entry into the Newsletter Competition Box located in each of our 3 offices.

If you do not wish to be contacted by Community Credit Union for marketing purposes please tick this box. To read our privacy policy please visit communitycu.ie/privacy-statement