Waterford Credit Unions among those offering new current accounts
Members of three of Waterford's Credit Unions can now avail of new current accounts offered by the member-owned institutions.
Waterford Credit Union (Main Office), Waterford Credit Union Grange and St Dominic's Credit Union Summerhill are among the 115 of the 250 Credit Unions nationwide offering the new service announced today.
It is the first time Credit Unions have taken on banks in this sphere and the new current account will offer a full range of services, including a debit card, standing orders and direct debits, as well as overdrafts.
The coming together of a large number of the country's Credit Unions joined forces and the service will operate under the name, Currentaccount.ie. People can apply in their local branch or online. You can also check if your local Credit Union is involved on the website.
"For the first time, Credit Unions will be able to provide their members with a real choice for their day-to-day financial needs," Seamus Newcombe, Chief Executive of currentaccount.ie, said.
"And, this new service, which will be accessible globally and digitally, will enable Credit Unions to become even more relevant to their members in our ever-increasingly digital world."
There will be a monthly operating fee of €4 and it will offer and online banking facility.
Some Credit Unions may offer concessions for students and over 65s.
The development has been welcomed by Minister for Rural and Community Development, Michael Ring.