St. Colman’s Credit Union is delighted to inform members that our rollout of online services (CU247) will commence very shortly.
This will enable a full payment service for our members in addition to viewing transactions and statements. The system has been built to the highest International Financial & Banking Industry Standards, combining all of the security and regulatory conditions required from Credit Unions in 2017.
The service will be available on your PC of choice together with a phone app. The service was originally intended for rollout in Quarter 1 of 2017, various Cyber hackings around the world led us to further IT checks and reviews to ensure we might present a world class offering for our membership. The service will include the seamless setting up of payees in a highly secure manner to assist with transactional activity.
We will be in touch with you again shortly in this respect as the official rollout commences.
Current Accounts
St Colman’s is currently collaborating with four other large community credit unions and with the guidance of CUSOP (CUSOP Payments DAC t/a CUSOP) in the preparation of its application to the Central Bank of Ireland to be in a position to offer current accounts and debit cards to its members. This is the second round of five credit unions grouping together for the application process and demonstrates the progressive nature of the strategic thinking within St. Colman’s.
The process is anticipated to take almost one year from the initial application stage to possible approval and is currently well underway. Therefore, the very real prospect of full current account and debit cards facilities being available for members of St. Colman’s in Quarter 3 or 4 of 2018 currently looks a distinct possibility. We will of course update as the process unfolds.
Loan Facilities
Like many in the Community and indeed further afield, we tire at the almost daily news of one scandal after the next in the Banking world. Mortgage Trackers currently dominate many of the financial headlines with the process appearing to be at an unseemly impasse.
We have no intention of offering opinion one way or the other. We would like to point out though that your credit union exists to serve its members and not profit from your needs and are proud to discharge our duties in a highly ethical manner. While much focus has been on ethics over the past number of years, we wonder aloud have all financial providers been paying attention!
We also want to take the opportunity to remind all that we’re delighted to hear from our members who prefer human interaction when discussing financial needs. Many still prefer the human touch as compared with call centres especially when loan facilities are being considered.
We believe our suite of loan facilities has the potential to satisfy the majority of member needs so….let’s be hearing from you!