Open a new current account with Cavan Credit Union
Cavan Credit Union is now offering a new current account service with debit card facilities. The account provides members with access to a full suite of current account services, a globally accepted MYCU Debit Mastercard and contactless payment options.
The Credit Union went live on July 4 with the current account, in response to member demand. The decision was also directly informed by the impending withdrawal of Ulster Bank and KBC from the Irish financial market.
“Offering our members, old and new, the benefits of a current account with a debit card, that can be used anywhere, was the logical next step for Cavan Credit Union" explained Therese Conway, CEO of Cavan Credit Union. “We have been very fortunate that the past few years have been good years for the Credit Union. We have built up a strong balance sheet that has enabled us to invest in current accounts, so that we can offer this key service to our members, which is now more important than ever, as financial institutions leave the Irish market.
“The support of our long-term members, and the very high level of new members joining, which has tripled in recent times, has encouraged us to enter this next phase for the Credit Union, which offers our members what they need to meet their daily banking needs, wherever they are.”
Therese advised that along with a worldwide recognised MYCU Debit Mastercard that provides easy access to money 24/7, other benefits from opening a Cavan CU Current Account include a competitive monthly account fee of €5, five free ATM cash withdrawals per month and free contactless payments. There is no monthly fee for members over the age of 65 or for full-time students from the age of 16, which is the minimum age for a current account.
Therese explained that the debit card, which can also be added to your Apple wallet on your phone, can be used for purchasing online or in shops, here or abroad and can also be used at all ATMs, here or abroad.
To open a current account with Cavan Credit Union there are a number of straight forward options. These include opening a new account online or through the CavanCU App, which can be easily downloaded to your phone or by coming into the branch, which is open Monday to Friday 9.30am-4.30pm, (Wednesday 10am-4.30pm). Therese advised that if you need to switch payments from an existing current account that you are closing it is best to make an appointment and come into the Credit Union, where a dedicated staff member will open your new account with you and assist you with changing over existing payments.
College Loans and Green Loans
Therese advised the Celt that the current account is just one of many new offerings that Cavan Credit Union is bringing to its members.
“We very much focus as a Credit Union on being progressive and offering our members what they need in the here and now, which changes as times change. We were delighted to bring our members our new farm loan product, Cultivate, last year, which has been very successful and we have lent over €1m in Cultivate loans to the local farming community.
“We are glad to be able to add current accounts and debit cards to our offering. We are also working on additional offerings for later this year. We will be offering a special lower rate education loan for members going to college from August. This is in response to the cost of living crisis and the Credit Union seeking to assist college going members and their families with an excellent education loan rate. We will have more information on this for our members next month. We will also be launching a good value “green loan” for environmentally friendly home improvements this September. Again this is in response to members wanting to make their homes more sustainable and better value to heat and maintain. As a community based co-operative, we are seeking to assist our members in doing this.”
Therese concluded by saying that with the support of the local community Cavan Credit Union has come a long way in recent years.
“We look forward to building on this and being here for our members in the many ways that they need us to be. We are working to adapt and grow with our members’ needs, so that we can serve the community of Cavan well, now and for many years to come.”