The positivity that comes with a fusion of skills, experience and forward thinking often manifests itself in creating a dynamic organisation and culture and this is certainly apparent in Listowel Credit Union as the one year anniversary of its merger with Ballybunion Credit Union draws closer.
Denis Dillane, CEO of Listowel Credit Union Limited, said: “The past year has been one of change at Listowel Credit Union. On June 29th 2016 Ballybunion Credit Union Limited completed a transfer of engagements to Listowel Credit Union Limited. The joining together of these two credit unions created a stronger and more financially robust credit union that will continue to offer its now enlarged membership a broader and more extensive range of services.”
It is a move that has been mirrored throughout the country as credit unions aim to enhance their services for their members through this process. It is a further endorsement of the credit unions flexibility and adaptability in a testing economic climate. Since the merger, over 1400 loans have been issued in Listowel Credit Union with a total value of over €7.2 million. There are now 15000 members between both offices with a combined total of over €60 million in savings. Assets have grown to €77 million.
Denis continued: “Listowel Credit Union is a not for profit financial co-operative, owned and managed locally by our members with a volunteer ethos and community focus. Since 1973, Listowel Credit Union has been a pillar of the North Kerry community and plays an active role in supporting local events and initiatives. Since Ballybunion have come on board, we have been able to extend that to a larger portion of North Kerry. The cultural fit that exists between Listowel and Ballybunion has been a key element in the success of the merger.” Being a member of Listowel Credit Union has many benefits including competitive loan interest rates, free Loan Protection Insurance, Life Savings Insurance and Death Benefit Insurance (subject to terms and conditions), and access to a wide range of services for members including loans, savings, home insurance and savings stamps. More information on the services that the credit union provides can be found on the website www.listowelcu.ie.
“We adopt a member centric approach in Listowel Credit Union and this is evident in the excellent customer service that we provide in both offices. It is something that we pride ourselves on. We put our members at the heart of everything we do,” said Denis.
Indeed this is something that credit unions in Ireland have been recognised for at a national level. In September 2016, Irish credit unions topped the poll for the second year running in a survey published by Customer Experience Insights (CXi). The credit union scored highly for ‘empathy’, ‘time and effort’ and ‘expectations.’
A common misconception is that a member has to save with the credit union for a certain period of time before they can apply for a loan, however this is no longer the case. There is no waiting period to apply for a loan once you join the credit union. People seeking to join the Credit Union must be resident or employed in the common bond of Listowel Credit Union or hold the common bond of Listowel Credit Union by association with an existing member. Family members residing with a current member of Listowel Credit Union can join the credit union. When applying for membership, applicants will be asked for proof of ID (for example a current driver’s license or passport), proof of address (such as a current utility bill or bank statement) and where
possible proof of PPS.
“We encourage members to fully support and avail of the financial services and benefits available at Listowel Credit Union Limited. Beware of the grip of moneylenders with their exorbitant interest rates. Listowel Credit Union is the best borrowing option for you particularly due to our competitive loan interest rates. You are always welcome at our offices in Listowel and Ballybunion to discuss your borrowing needs. We also welcome member’s ideas and potential input regarding the promotion of Listowel Credit Union,” said Denis. One year on, the merger has ensured that a vital financial hub in both of these communities has been able to operate more efficiently and offer more to its members. It’s a positive and good news story on all fronts and is worth celebrating as the anniversary approaches.
Loans are subject to approval. Lending criteria, terms and conditions apply. Listowel Credit union Limited is regulated by the Central Bank of Ireland.
Pictured: Front L-R: Martina McElligot, Joanne Mahony, Denis Dillane, Christine Blake, Jackie Foran. Back L-R: Jackie Carmody, Katie O’Connell, Denyse Shine, Anne Carey, Martina Kelly, Paudie Flynn, Liz Horgan, Marion O’Sullivan, Siobhán Fealey, Pat Keane.