Communion season is once more nearly upon us in Listowel and it can be an expensive time for parents, adding pressure to already stretched household budgets. It is important that families in the local Listowel area know that the credit union is here to help – whether it is to set up a savings or budget plan in advance of the big event or to assist families with a small modest loan. Listowel Credit Union offers a competitive interest rate for communion loans.
Research undertaken by the Irish League of Credit Unions in the past years has found that the average amount of money received by a child for communion is €471, however, according to mummypages.ie this can jump to a whopping €703 per child when parties, gifts and fuss are factored in.
In relation to funding the costs of communion and confirmation, 21% of respondents stated that they use credit cards to cover some of the costs of communion. An even more worrying result is that almost one in 8 (12%) families finance at least part of the costs of communion via moneylenders. Most parents encouraged their children to save most of the money given to them for their communion.
The great thing about a personal loan at Listowel Credit Union is that there are no hidden fees or transaction charges and credit union interest rates are fair and reasonable and are capped by law. Repayments are calculated on your reducing balance, so you pay less interest with each repayment. Your credit union loan is also insured in the event of your death – subject to terms and conditions – at no direct cost to you. Other lenders charge for this. You can pay off your loan early, make additional lump sum repayments or increase your regular repayments all without a penalty.
Denis Dillane, Manager of Listowel Credit Union said; “The ethos of the credit union is simple – we are here to offer friendly, accessible financial services in the local community through savings and modest loan services. We would urge anyone who is planning for the costs of communion to call in and speak to us in Listowel or Ballybunion. Listowel Credit Union offers its members budgeting and savings advice as well as competitive rates on loans.” Loans are subject to approval. Lending criteria, terms and conditions apply. Listowel Credit Union Limited is regulated by the Central Bank of Ireland.