Third Level Tips
Going to college can be costly, get prepared by completing the Third Level Budget Sheet here
Need to learn about budget. Download the My Budget Buddy App (on Apple and Android)
Going to college can be costly, get prepared by completing the Third Level Budget Sheet here
Need to learn about budget. Download the My Budget Buddy App (on Apple and Android)
A new, national survey has identified a rise in the number of parents in debt due to back-to-school related costs. Well over a third of parents in Ireland (36%) now say they are getting into debt trying to cope with costs at back-to-school time. This compares with 29% who reported being in debt last year. The worrying findings were revealed in the study commissioned by the Irish League of Credit Unions.
More than two thirds of parents in the study also said that they found back-to-school costs a financial burden. Nearly half (46%) said meeting costs was their biggest back-to-school related worry. Close to one third of parents said they would be forced to deny their children certain school items this year because they could not afford them. Extracurricular activities and new school shoes were amongst the items to be cut from the budget this year.
Reacting to the findings, Helen Courtney Power, Business Development Officer of Killarney Credit Union said that the credit union is all too aware of the struggle for parents this time of year. “We do see parents approaching us around this time of year requesting assistance with either budgeting and saving for the back-to-school spend, or with taking out a loan to see them through. It’s understandable that back-to-school costs are seen as a financial burden for so many when parents are paying out €999 for every primary school child, and over €1,300 for every secondary school child in their household.
At Killarney Credit Union, we offer a special Back to School loan with an affordable APR rate of 6.2%*. The loan is typically approved within 48 hours and there are no hidden transaction fees or charges. As always, we are happy to work with parents to structure repayments in a way that suits their individual circumstances.”
Of concern for the credit union was the finding that, of those parents who said they were getting into debt, more than a quarter (27%) said they had turned to a moneylender in an effort to cope with back-to-school costs. This was a noticeable increase on the 20% last year who had opted for a moneylender.
Commenting on this finding, Helen said, “I would really encourage these parents to reconsider approaching a moneylender, some of whom charge APR rates as high as 188%**. This can lead to a recurring cycle of unnecessary debt and panic borrowing. We offer a service called the Personal Micro-Credit Scheme or ‘It Makes Sense’ which was specifically designed to assist social welfare recipients who feel they have no option but to borrow from a moneylender. Our welcoming staff are always on-hand to answer any queries in relation to this loan.
* For a €1,000 1 year variable interest rate loan with 12 monthly repayments of €86, an interest Rate of 6%, a representative APR of 6.2%, the total amount payable by the member is €1,032.
Information correct as at 31/07/2018.
** Central Bank of Ireland Register of Moneylenders, July 2018.
Why are you limiting/imposing a savings cap?
The Board of Killarney Credit Union took the difficult decision to limit savings to €30,000 per member account after a significant increase in the number of cash deposits made at the credit union and the knock-on implication this has had on the credit union’s ability to maintain the regulatory reserve set out by the Central Bank of Ireland, which is a minimum of 10% of our total assets.
This means that for every additional €100,000 of savings, we must allocate €10,000 from our surplus / profits to our Capital Reserve, and this can have the effect of depleting the amount available to pay a dividend at year end and roll our new services e.g current accounts etc
We also face the challenge of a low interest rate environment which is greatly reducing the investment income that Killarney Credit Union earns on its deposits. Due to the high level of on demand savings held by the credit union, over €22million of excess funds must be placed in investments which we are receiving a very low or zero interest rates. There is also the possibility that the credit union will be charged by the banks for taking deposits in the near future. Therefore, the low interest rate environment is also impacting on our ability to generate a surplus.
How many members will this affect?
This will affect approx. 600 member accounts in total which is only 2% of total membership.
What is the saving restriction? The credit union now has a saving restriction of €30,000 per member account. This means that each member can only have €30,000 on deposit with the credit union. If anyone currently has over that amount in savings here they will have to withdraw them to bring them to the €30,000 limit. Members who have less than €30,000 can increase their shares to €30,000 – but no more than that. Joint members can transfer funds to each other to bring their accounts under the 30k limit.
What about members with savings under €30,000?
If the member has less than €30,000 they are free to increase it to this amount, but to no more beyond this level. Staff will be tracking this to identify members that are reaching the limit and the member will be advised accordingly.
What about members with savings above €30,000?
Members above €30,000 are encouraged to withdraw funds to comply with this cap. Members in this category cannot make lodgements to their accounts until the balance goes below €30,000. Members will be encouraged to bring their savings down to the limit before the 30th September 2018.
How long will the cap last for? The Board of Killarney Credit Union will keep the savings restriction under constant review, if they make any decision to change the current cap, members will be informed.
Does this mean the credit union is in difficulty? No, this has no bearing on the day to day operations of the credit union. Killarney Credit Union is adequately capitalised at €12m and has assets of €113m. In the past year, savings have increased by 6% and stand at €99m –and we must meet the regulatory reserve of 10% of our total assets at all times.
Each time our savings increase, we have to allocate more money from our surplus funds to meet this regulatory reserve, therefore reducing the amount we have available to pay out a dividend or loan interest rebate. It also reduces the amount we can afford to invest in new services and new technology options that can benefit all our members.
To reduce the impact of this savings growth, the decision was reluctantly taken to limit savings to benefit the greater number of our members.
Will this affect the dividend offered? Last year Killarney Credit Union paid a dividend of .05%, worth €44,000 to members. While it is too early this year to determine what rate of dividend if any we will pay out, we will be communicating with members directly to inform them once we are in a position to do so.
Are my savings safe here? I can assure you that your savings remain safe and secure at Killarney Credit Union. We are a financially strong and stable credit union with €12m in capital reserves and €113m in assets. We made a surplus in 2017 of €609,601.
In addition, your savings continue to be guaranteed by the Government Deposit Guarantee Scheme up to €100,000.
Does this mean the credit union cannot give out loans? Killarney Credit Union is in a strong position to give out loans, subject to appropriate assessments being completed. Our ability to lend is in no way affected by the savings cap. We continue to provide valuable loan services to the local community.
I’m affected by the savings cap of €30,000, what will I do now?
You will receive a phone call from a credit union representative who will advise you of your options. You will be required to withdraw funds to bring them below the €30,000 cap, this can be done by cash, cheque or EFT. Please being ID (photo and current address) to undertake this transaction. We cannot give out financial advice to members on investment or other savings options. You are recommend to talk to your financial advisor.
I have received a letter advising me I am nearing the savings cap. How will this affect me?
Members who reach €30,000 in savings will be prevented from making further deposits until the balance on their account falls below €30,000 (this will apply to all cash, cheque and EFT transactions).
Please take note of your current balance and ensure that it does not exceed the €30,000 limit on savings. You may find out your current savings balance by contacting the credit union directly or by registering for online banking.
We have a range of back to school loan options available to members. Why not make a quick loan enquiry and we will call you back.
Back-to-school time might seem like a long way off at the moment, but a significant number of Irish homes will have no choice but to start preparing for the associated costs.
Many parents will need a little financial assistance, whether it be dipping into their savings, borrowing from loved ones or taking out small loans. In fact, three quarters of parents of school-attending children say they view the back-to-school spend as a financial burden, with 29% saying they will get into debt. The findings were revealed in the 2017 Back to School Costs survey commissioned by the Irish League of Credit Unions.
The same survey found that on average, parents were spending €1,209 per school-going child to get them ready for the school year ahead. The cost has continued to increase over the years and was up 2% on 2016, and up 4% on 2015. In fact, a substantial one in four parents said they would be forced to deny their children basic school items in 2017 because they simply could not afford them.*
Helen Courtney Power, Business Development Officer of Killarney Credit Union says that many parents can be tempted to use quick, but ultimately expensive means to fund the back-to-school spend.
“With more than a quarter of parents saying the costs will negatively impact on household bills, it’s very understandable that it’s a significant source of stress and that many might feel the easiest option is just to use the credit card or worse, turn to a moneylender. However the interest rates with these options can be extremely high, and parents can find themselves in significantly more debt than they had planned for. We would urge all parents in the South Kerry area who might be considering these options to come in and talk to us in the first instance. We offer a range of short term loan options which is typically approved within 48 hours. We can also work with parents to ensure that the loan repayments are structured in a way that suits their individual circumstances best. We never charge administration or transaction fees, or penalties for paying a loan back early.”
Helen continued: “I would also say to parents to feel free to drop into us for a chat about how to budget and spend within their means, so as to ensure they don’t get into unnecessary debt around back-to-school time. For those who are considering a loan, we stand ready and willing to lend to new credit union members, as well as those members we may not have seen in years. There is no need to save with us for a set period of time before applying for a loan. Our aim is for all parents in the South Kerry area to enjoy the summer holidays with their kids without the worry of a looming financial burden.”
*All findings from ILCU 2017 Back to School Costs survey
Starting college in 2018. Why not make an appointment with one of our student loan advisors in each of our branches on 064-6631344. Karena in Beech Road, Donogh in Park Road and Eileen in Kenmare.
We are now taking applications for our Third Level Bursary Award 2018. Students attending college for the first time are eligible to enter the draw. It is open to all ages including mature students, attending colleges in Ireland or aboard.
For an application form and to see the terms and conditions see here. Closing date is the Friday 21st September 2018.
Inter Kenmare FC announce launch its 5 a side competition
9th July 2018 – for immediate release
Inter Kenmare Football Club today (6th July) launched its annual 5 a side tournament with Killarney Credit Union announced as main sponsor.
The competition which will commence on Monday 23rd July in Kenmare and is open to senior men, ladies and underage boys and girls competitions.
Speaking about the competition, Sean Murphy, Chairman of Inter Kenmare stated “we are delighted to have such an influential sponsor such as Killarney Credit Union involved in our tournament for the second year running, they are a vital asset in small communities like Kenmare as they are always keen to support a variety of clubs and without their support clubs we would find it more difficult to run big fundraisers such as our 5 A Side” he concluded.
The tournament which has been in existence for the past 26 years, opened up the competition to younger players over last two year and has been a tremendous success.
Helen Courtney Power, Business Development Officer, Killarney Credit Union commented “the credit union has always been a keen supporter of clubs in South Kerry and we are delighted to be main sponsor of the Inter Kenmare 5 a side competition the second year running, it is great to be able to support an event that involves such a wide age group of competitors” she stated.
The entry fee for the competition for Senior Men and Ladies is €120 and U 8- U14 is €5 per player. Application forms are available from PF McCarthys Bar, Kenmare, Majella O Sullivan Auctioneer, Main Street, Daybreak, Main Street and all Killarney Credit Union branches. Fees and application forms can be returned to any of the venues listed.
Sean added “the draw for the competition will take place on Friday July 20th in PF McCarthys, we will be posting regular updates on our website www.interkenmarefc.com and on social media”.
The closing date for receipt of application forms and fees is Friday 20th July.
Well done to all the fantastic savers who were winners of the Schools Savings Scheme with our mascot Rua.
Members in the money with 25,000 in prizes in credit union draw
There was a jubilant Helen O Leary from Killarney who received a call this week to find out she won a brand new Seat Arosa in the Killarney Credit Union members draw. Helen and her son Michael were the outright winners of the car in the bi yearly credit union draw.
Mary from Countess Grove, Killarney picked up the keys of her new car from Pat Sheehan, Board Chairman at a prize giving ceremony at the credit union on Friday 13th July at the credit union headquarters.
Speaking about the members draw, Karena McCarthy, Killarney Credit Union Marketing Officer stated “we currently have over 2,500 members in the draw which is held twice a year. This year our prizes included a new car and prizes ranging from €250 to €1,000 cash, our next draw will take place in January 2019” she concluded.
Members can apply for the members draw at any of the branches or download an application form online www.killarneycu.ie. €12 will be taken from your account twice a year as an entry fee for the members draw.
The 11 cash prize winners were Martina Griffin, Laura Wickham, Peter Moynihan, Margaret Griffin, Elizabeth O Mahony, John Healy, Paul Cahill, Nora O Carroll, Thomas Punch, David Sheehan and Elaine Sugrue.
The draw was adjudicated by solicitor Eoin Brosnan and KCU Risk and Compliance Manager Shane Foley in the credit union offices on Tuesday 10th July.
Karena added “The draw is limited to members of Killarney Credit Union and anyone over the age of 18 can apply to join, so we would encourage members to sign up, if they haven’t already, as the saying goes, if you’re not in, you can’t win” she concluded.
The tournament which is in its 42nd year will take place in the Killarney Athletic grounds in Woodlawn on Monday June 25th.
Big Hitters FC
Enter My Van
Michael Healy Rae Team
O’Riordan Sand & Gravel
Liam Lynch Skoda
The Lake Hotel
Port River Wanderers
Tim Jones & Sons
South West Gnó Skillnet in association with Killarney Credit Union are delighted to host a GDPR lunchtime briefing for Accountants
Date : Next Thursday, June 21st 12-2p.m.
Complimentary light lunch included
Venue : The Brehon Hotel, Killarney.
Speaker : Liam Lynch - L2 Cyber Security Solutions.
Liam will be specifically addressing the area of GDPR for Accountants and will be available for individual questions post-briefing.
BOOKING ESSENTIAL AS PLACES ARE LIMITED.
For further details or to book your place please call :
Jake Carter and Karen Byrne winning Dancing with the Stars Ireland
The Lily of Killarney organising committee today announced that RTE Dancing with the Stars winners Jake Carter and Karen Byrne will be the 2018 celebrity judges of the competition.
The Lily of Killarney competition which is in its 45th year will be hosted in the Gleneagle Hotel Ballroom on Friday June 8th where 33 girls will compete to become the 2018 Lily of Killarney.
Geraldine O Neill, Chairperson of the Lily of Killarney Committee stated, “we are delighted to announce that Jake and Karen will be our celebrity judges this year, we are very honoured that they have chosen to attend our event, and we look forward to welcoming them to Killarney’ she concluded.
The country was gripped every Sunday night watching Jake Carter and Karen Byrne dance their way into the final and waltzing off with the glitterball trophy.
The Lily of Killarney is being sponsored by Killarney Credit Union once again this year and is delighted to once again support this local event.
The Lily of Killarney is run by Spa GAA Club Ladies Committee and the current holder of the Lily of Killarney title is Mary T Moynihan who represented Jimmy Brien’s Bar.
Geraldine added “Tickets for this prestigious event are €30 and are available for purchase from the Spa GAA Ladies committee members. Keep an eye on the Lily of Killarney Facebook page for details of ticket sales in the coming days”.
WHAT IS THE GDPR?
The GDPR is a piece of EU legislation which will overhaul our current data protection legislation. It aims to strengthen and unify data protection for all EU individuals and in some cases those outside of the EU. It brings with it further obligations for organisations (like your credit union) who process your personal data in order that your personal data is fully respected. Processing is basically doing anything with, even storing, your personal data.
WHAT ARE YOUR RIGHTS?
The GDPR enhances your rights in respect of your personal data.
You have a right to:
Update your communication preferences here
We are pleased to advise you that credit unions have been voted as the most reputable organisation in Ireland in the 2018 RepTrak® study.
In total, over 7,000 members of the public were surveyed for the annual study which examines the emotional connection between people and the different companies and organisations they interact with. There were 17 different categories of organisations, with credit unions claiming the top spot overall. RepTrak stated that credit unions won for their ‘role in providing trusted financial services to local communities and being at the heart of communities in Ireland’.
Companies were ranked on a Reputation Pulse score from 0-100, based on levels of trust, respect, esteem and admiration. With a RepTrak® score of 82, credit unions were one of four organisations to fall within the ‘Excellent (80+)’ category. The average RepTrak® score was 66.0, with the an average score of 57.5 amongst financial services organisations.
KILLARNEY CREDIT UNION LAUNCHES YOUTH FINANCIAL EDUCATION INITIATIVE
GR8 SAVERS WEEK RUNS FROM 7th – 13th MAY 2018
Killarney Credit Union is embarking on a financial education initiative for children in the South Kerry area. A savings and spending awareness week, known as GR8 Savers Week, will run between 7th and 13th May. The event aims to encourage parents and teachers to educate children about the importance of responsible money management and saving for the future. Experts agree that adult money habits are typically set by the age of seven*, so it is never too early for children to start learning positive money behaviour.
During GR8 Savers Week, Killarney Credit Union will have in branch give-aways, colouring competitions and activity sheets for younger savers, while staff will be on-hand with helpful tips and guidance for parents on financial education. The awareness week is designed to be fun and enjoyable for young people, while also highlighting the value of money and the benefits of prudent spending.
Speaking about the initiative, Karena McCarthy (Marketing Officer) Killarney Credit Union said: “We see it as part of our commitment and responsibility to the South Kerry community to help ensure that our young people are taught how to become financially independent. Sound financial planning and prudent money management are skills that can be nurtured from a young age. Encouraging children and young people to develop a regular savings habit during GR8 Savers Week can assist them greatly in the future, especially when they need to manage budgets while at college or in their first job.”
Killarney Credit Union operates a schools savings scheme in a number of national schools throughout the Killarney and Kenmare area. Parents and guardians are encouraged to call in and find out about joining up their child as a junior member of the credit union. The credit union is offering special prizes for regular savers through the school savings scheme from now until the end of the school year. Further information on what is required to join the credit union is on www.killarneycu.ie.
Karena continued: “All parents, children and teenagers are welcome to call into our credit union throughout the week to enjoy the fun and activity, and pick up some great tips on starting a healthy savings habit. It’s also an opportunity for young people to learn about the not-for-profit ethos of their local credit union and the fact that we will always be there for them in the future, offering fair and affordable loans for whatever they might need, be it college, a new car, a holiday or their wedding day.”
Killarney Credit Union has also put together some of their top tips for teaching children how to develop a healthy and responsible attitude to money.
1. Consider rewarding children for regular saving. Don’t focus on the amount saved, but the fact that they are developing a savings habit. Supporting and rewarding them to save even very small amounts on a regular basis will help to imbed the habit.
2. Help young people to decide on a savings goals – it’s good for them to have both a short term and a long term goal. They will find it much easier to save regularly when they are savings towards something they really want.
3. Dissuade young people from spending their savings on impulse. Remind them of their savings goal and what they originally wanted to save for. Share with them a story of something that you would have saved for when you were younger.
4. Help young people to develop a savings plan, calendar or mood-board to highlight when their goal will be achieved. Having a visual prop or a visual ‘countdown’ can also encourage them to stick to their target.
5. Give pocket money or allowances in small denominations and encourage them to put a little aside. Having a piggy bank, or better still a transparent jar so they can watch their money physically increase, is also a good idea.
6. Consider linking pocket money and allowances to chores or responsibilities in the home. This helps to embed the idea that money must be earned. The more effort required to earn their money, the less likely they will be to spend on impulse or all at once.
7. If pocket money and allowances run out at an early stage, don’t rush to replace them. Providing additional money at the drop of a hat will defeat the purpose of giving a set allowance.
8. Why not bring them in to Killarney Credit Union to open their own credit union account. This will give them a sense of independence and responsibility.
Gaelscoil Faithleann Killarney were presented with a cheque by
Killarney Credit Union to support their bid to become National Credit
Union School Quiz winners which is being held in the RDS Dublin on
Sunday 8th April. In attendance at the presentation were teachers,
students, parents and staff from Killarney Credit Union.
Gaelscoil Faithleann is being represented at the national finals by
Daire O’Briain, Adam Ó Súilleabháin, Sinéad Olibhéar, Cameron O Rua
who were the winners in the U13 age category.
Karena McCarthy, Marketing Officer, Killarney Credit Union stated “we
are delighted to see the Gaelscoil Faithleann progress once again to
the national title and we would like to wish them to best of luck in
bringing the title back to Kerry” she concluded.
The hotly contested event is run by the Irish League of Credit Unions
(ILCU) each year and attracts more than 25,000 participants. The local
and regional knockout rounds were organised by volunteers from 400
ILCU affiliated credit unions, and took place in over 300 venues
throughout the 32 counties over the winter months. At the National
Schools Quiz final, 100 teams will compete and the MC for this year’s
Quiz will be Aidan Power, TV and radio presenter.
The quiz is divided into two sections; Competition A for children up
to 11 years and Competition B for children between 11 and 13 years.
The winning teams at the national final receive €1,250 per school,
with the runner up teams in each category receiving €750 for their
schools, adding up to a fantastic prize fund of €4,000.
Gaelscoil Faithleann are no strangers to the school quiz having
reached the school quiz finals last year and winning the coveted
title in 2010.
Front from left are Stephen Darmody (Killarney
Credit Union Financial Co-ordinater / Credit Controller), Daire
O’Briain, Sinéad Olibhéar and Shane Foley ( Risk and Compliance
Manager). Back from left are Treasa Ui Scannlain (Muinteoir), Adam Ó
Súilleabháin, Cameron O Rua and Karena McCarthy, Marketing Officer,
Killarney Credit Union.
Avoid Unnecessary Debt this First Communion Season
Preparing for a child’s First Holy Communion is a very special time for families. In recent years however it has also become a very financially stressful time. Brand new outfits, cash gifts, lunches or dinners for family and friends and even children’s entertainment are all features of modern-day First Holy Communions. This pressure has seen many parents reaching for the credit card, or worse, contemplating a moneylender.
A May 2017 poll carried out by website Evoke.ie revealed that almost half of people (46%) feel parents should spend between €100-200 on their child’s outfit for the day. 58% said they would expect their meal to be paid for if they were attending the celebrations. The overwhelming majority, 74%, felt that cash was the most appropriate communion gift, followed by jewellery or a watch. These attitudes are understandably compounding the financial pressure on families already grappling with daily bills.
Helen Courtney Power, Business Development Officer of Killarney Credit Union is advising parents in the South Kerry area to start budgeting now for First Communion time, and avoid getting into unnecessary debt. “We would really discourage parents from using their credit cards to fund their child’s First Holy Communion – as some can charge interest rates of more than 22%* leading to a long financial recovery period. We would especially urge people away from moneylenders – some of whom can charge outrageous interest rates of 188%** trapping people in a never-ending cycle of debt. At Killarney Credit Union we really want parents and families in the South Kerry area to enjoy this special time with their family free from financial worries, and so we would encourage them to start budgeting now. Resist the temptation to spend money on some of the more unnecessary trappings, and of course, seek out one of our friendly staff members for any budgeting tips or guidance you might need.”
Helen continued “Of course, we also understand that First Holy Communion is an important milestone in your child’s life and you might need a helping hand to fund your plans for the day. At Killarney Credit Union we are offering a special loan for the occasion, which like all our loans, does not carry any hidden transaction fees and we are happy to structure a repayment plan to suit individual circumstances. There is always the option to repay lump sums without incurring any extra penalties or charges – and this loan is available to all members, including those who have not used their account for a while or who we may not have seen in years.”
Cash gifts received for children making their First Communion have also increased. The Evoke.ie poll found that more than half of people (51%) feel €20 should be gifted, while almost a quarter believe it should be €30. This presents a great opportunity for parents to educate their children about the importance of saving.
Helen says; “Parents can encourage their children to put aside some of their communion money by opening a credit union savings account for them. Perhaps they have been talking about something they really want such as a bike, new games or clothes. Encouraging them to save towards something they have always wanted is a good way to start their financial education. Starting to build up a savings history from an early age is also a great advantage should your child need to borrow in the future for third level or their first car.
For advice on managing costs of managing the costs of Communion and Confirmation, MABS have created a useful guide.
Chapter 23 Kerry and West Limerick Credit Union is proud sponsors of the County League Championships. Please find attached fixture list for 2018.
Why not join as a Junior Member of Killarney Credit Union this Easter. Join up and if you save for 6 weeks you could win some fantastic prizes. Read more here
Why not enter our Easter Colouring Competition, you could win a €50 Book voucher. To download here, please drop back to the credit union offices to enter.
Chapter 23 Credit Union Quiz Finals 2018
Primary school students representing the credit unions in Kerry and West Limerick put their knowledge and skills to the test last Saturday evening in the Institute of Technology Tralee as they competed in Stage 2 – Chapter Level of the All Ireland Credit Union Schools Quiz 2018. Twenty teams from Abbeyfeale, Caherciveen, Chorca Dhuibhne, Clanmaurice, Killarney, Listowel, Rathmore and Tralee Credit Unions competed. The competition was intense with the narrowest of margins separating the teams at the end of a most enthralling and entertaining afternoon. There were two competitions, A, Under 11 and B, Under 13.
The very large attendance of over 400, made up of parents, grandparents, siblings, extended family members, teachers and credit union representatives thoroughly enjoyed the evening with their knowledge of geography, history, music, literature, current affairs and credit union affairs refreshed and increased.
The aims of the Quiz are to encourage learning and teamwork among primary school pupils within an enjoyable environment. Teamwork was in clear evidence in the Institute of Technology Tralee on Saturday evening last as the members of each of the twenty teams pooled their knowledge and skills to answer twelve rounds of six questions.
The winners and runners-up of Competitions A and B (1st and 2nd placed teams in each competition) now progress to the National Finals which will be held in the RDS Dublin on Sunday 8th April 2018.
In the U11 competition Gaelscoil Mhic Easmainn representing Tralee Credit Union (Grace Ní Dhomhnaill, Iarla Ó h-Ainiféin, Ruarí Ó Loingsigh, Donnchadh Mac Uilegóid) emerged as winners with Holy Family NS Rathmore Credit Union (Liam O’Keeffe, Ross Moriarty, Eoin Cashman, Grace Murphy) in second place . Glenderry NS representing Clanmaurice Credit Union (Zara McGrath, Liam Carroll, Rory O’Halloran, Jennifer Harty) secured third place
Gaelscoil Faithleann representing Killarney Credit Union (Daire O’Briain, Adam Ó Súilleabháin, Sinéad Olibhéar, Cameron O Rua ) emerged as winners in the U13 competition following a tie-breaker with Spa NS representing Tralee C.U. (Molly Sheehy, Cian O’Gara, Cian Mason, Gearóid O’Connor)which then finished in second place. Lissivigeen NS representing Killarney CU (Shane O’Sullivan, Hannah Ryan, Oisín Dineen, Aoibhín Kelly) were in third position.
The MC for the evening, Mr Christy Killeen, thanked the Quizmaster, Mrs Helen Twomey, the adjudicators, the correctors, the stewards and the personnel from the various credit unions who helped out on the day. He thanked the IT Tralee for making their excellent facilities available at short notice and Mr Billy Donegan for providing and operating the electronic score board. He said that the scoring of the teams was very high particularly as some of the questions were challenging to say the least. The points difference between the prizewinners and the rest of the teams was minimal. He said that it was a wonderful occasion and a great learning experience for all and he complimented all the participants, their teachers and their parents on their involvement in, and contribution to, the successful outcomes of the Quiz.
Killarney Credit Union this week launched its community loan product for groups in South Kerry. The loan product is targeted at community, not for profit and charities and offers loan amounts up to €100,000 over 20 years.
Speaking about the loan, Mark Murphy, CEO of Killarney Credit Union stated “We have launched this product to coincide with recent grant aid agencies supports to community groups in our locality. A lot of groups may struggle to fundraise locally and through the provision of community finance, we can assist projects come to fruition. We offer both long term community finance over 20 years or short-term bridging finance of 6 months or less which could help in grant aid draw down” he concluded.
The credit union will consider projects from all sectors including sports groups, arts, youth activities, social enterprises and community groups. Groups, clubs and societies are all eligible to open savings accounts in the credit union which can be used for fundraising/saving activities.
Mark added “To date we have supported one local charity operating in Killarney and we are working with another club in Kenmare to develop new facilities to generate additional income. While we are cognisant that there are other social finance partners available to community groups. We would like them to consider a local lender such as the credit union as we are embedded in the local community and committed to support projects that support the socio-economic well-being of people living and working in South Kerry”.
1. Staff, management, board oversight, volunteers and board of directors are precluded from entry into current member draws. A Director or staff member has never won a car.
2. All our draws are held in branch and each draw is overseen by an independent external solicitor, management, risk and compliance officer who are there to ensure that the selection process is fully transparent.
3. Members have to sign up for the members draw and agree to the terms and conditions of the draw. They can withdraw at any time at their choosing.
4. Our recent winners are published on our website and in the local media. http://www.killarneycu.ie/our-services/other-services/235-members-cash-car-draws
5.The members draw is operated on a break even basis with prize funds being distributed as car and cash prizes.
6. The members draw control procedures have been reviewed by both the internal and external auditor of the credit union. No discrepancies were noted from any draw undertaken.
7. The credit union members draw prize policy is listed in the terms and conditions of members draw application form available online. Further details on http://www.killarneycu.ie/images/MEMBERS_CAR_DRAWLow_July_16.pdf
8. There has been extensive reporting on this issue and that some reports were inaccurate and misleading and that action has been taken by ILCU and the Central Bank to have these inaccuracies corrected.
If you would like to join our members draw which takes place twice a year, please complete an application form here