Savings

Savings in Ballinascreen Credit Union are known as shares. This is because if you have shares equal to or in excess of Ł1 in Ballinascreen Credit Union you are a member.

At Ballinascreen Credit Union, you are not just another customer but a member of a highly successful financial co-operative. You have a share in the ownership of Ballinascreen Credit Union. Along with having a say in the operation of Ballinascreen Credit Union, you also earn dividends.

Whether you are saving for something in the future, or just for a rainy day, it is a good idea to save some money on a regular basis. Regular saving is a fantastic way to approach personal finance.

Click For Further Information:-

What are the benefits of Credit Union Savings?

How can I save?

Are Savings with the Credit Union Secure?

Are Savings easily accessible?

What are the Forms of Savings available in a credit union?

How to open an account?

What are the benefits of Credit Union Savings?

Savings balances over and above any loan you may have are available to you to withdraw on demand.

Dividends for savings available on demand.

There are no transaction charges or fees.

How can I save?

While it might sound strange, it does not matter how much you save at the start. It is the regular habit that we want to encourage. This is why we offer a number of options to our members.

Over the counter lodgements - This is a very popular method for members wishing to save.

Standing Order/ Direct Debit - This involves the member choosing how much money they want to save every week/fortnight/month. The amount and the frequency is dictated by the member. Members choose to save by standing order as it does not require regular trips to Ballinascreen Credit Union and the member can change the amount or frequency at any time.

Are Savings with the Credit Union Secure?

Credit union members can rest easy in the assurance that their savings are safe.

Credit Unions in Ireland, which are affiliated to the Irish League of Credit Unions, are secured in several ways:

Savings (shares) up to €100,000 are automatically covered by the Government Protection Scheme.

All monies received in the credit union are properly recorded and lodged regularly.

Full financial statements are prepared, audited independently, and can be examined by members.

Annual independently audited returns are lodged with the The Irish Financial Regulatory Authority. (IFSRA)

Are Savings easily accessible?

Savings can be withdrawn from your Ballianscreen Credit Union during its normal business hours at no charge, provided the savings are not pledged as security on a loan. You are encouraged to keep your savings intact, so that:

They continue to earn a dividend;

They continue to benefit from the Life Savings Insurance protection;

You maintain your credit worthiness and capacity to borrow.

What are the Forms of Savings available in a credit union?

There are a number of different accounts that are held in Ballinascreen Credit Union to facilitate your saving.

They are: -

How do I open a Savings account?

Joining the Credit Union is the best decision you could take for your money.

To become a member of Ballinascreen Credit Union, you must be within Ballinascreen Credit Union’s common bond. The common bond of Ballinascreen Credit Union allows anyone living or in employment within a 6 mile radius of Draperstown to apply to become a member of the Credit Union.

Anyone within the common bond is eligible to apply for membership, and start saving as soon as they are admitted.

To open an account, please visit the Credit Union office and bring the following documents: -

Current photo ID - passport, driving licence;

Proof of residence - Utility Bill, Bank Statement within the last 3 months.

Our Credit Union lets people in the community come together to save and borrow money at low rates. It is operated on a not-for-profit basis, with surpluses being returned to members in the form of yearly dividends.

Townlands within the Common Bond of Ballinascreen Credit Union

Annagh and Moneysterlin	Doon	Lisnamuck
Ballinderry	Dromore	Longfield
Ballybriest	Drumard	Luney
Ballyknock	Drumballyhagan	Mobuy
Ballymacpherson	Drumballyhagan Clarke	Moneyconey
Ballynagown	Drumconready	Moneyguiggy
Ballynahone Beg	Drumcrow	Moneymore
Ballynahone More	Drumderg	Moneyneena
Ballynure	Drumnascallon	Moneyshanere
Bancran Glebe	Drumsamney	Mormeal
Boveagh	Dunlogan	Motalee
Brackagh	Dunmore	Moyard
Brackagh Slieve Gallion	Dunmurry	Moybeg Kirley
Brackaghreilly	Duntybrian	Moydamlaght
Bracklislea	Durnascallon	Moyesset
Cahore	Fallagloon	Moyheeland
Calmore	Fallygortrevy	Moykeeran
Carnamoney	Fallylea	Mullagh
Carncose	Finglen	Mulnavoo
Carndaisu	Glebe	Owenreagh
Carricknakielt	Glengomna	Quilly
Carromenagh	Glenviggan	Rosgarran
Cavanreagh	Gortahurk	Roshure
Clagan	Gortamoney	Slaghtfreeden
Cloane	Gortanewry	Stranagad
Clooney	Gortnaskea	Straw
Cloughfin (Ballinascreen)	Grange	Straw Mountain
Cloughfin (Kilcronaghan)	Granny	Strawmore
Coolnasillagh	Iniscarn	Tamneymullan
Coolsaragh	Keenaght	Tamnyaskey
Corrick	Killyboggin	Tintagh
Craigadick	Killynumber	Tirgan
Craigmore	Killytoney	Tirkane
Cranny	Kirley	Tirnoney
Cullion	Knockadoo	Tobermore
Curr	Knocknagin	Tonagh
Curran	Knocknakielt	Tullybrick
Derryganard	Labby	Tullyheran
Derrynoid	Largantogher	Tullykeeran Mountain
Dirnan	Lecumpher	Tullynagee
Disert	Letteran	Tullyroan

Ballinascreen Credit Union Limited

CU AT YOUR PLACE

Savings

Savings

Click For Further Information:-

What are the benefits of Credit Union Savings?

Savings balances over and above any loan you may have are available to you to withdraw on demand.

Dividends for savings available on demand.

There are no transaction charges or fees.

How can I save?

While it might sound strange, it does not matter how much you save at the start. It is the regular habit that we want to encourage. This is why we offer a number of options to our members.

Over the counter lodgements - This is a very popular method for members wishing to save.

Are Savings with the Credit Union Secure?

Credit union members can rest easy in the assurance that their savings are safe.

Credit Unions in Ireland, which are affiliated to the Irish League of Credit Unions, are secured in several ways:

Savings (shares) up to €100,000 are automatically covered by the Government Protection Scheme.

All monies received in the credit union are properly recorded and lodged regularly.

Full financial statements are prepared, audited independently, and can be examined by members.

Annual independently audited returns are lodged with the The Irish Financial Regulatory Authority. (IFSRA)

Are Savings easily accessible?

Savings can be withdrawn from your Ballianscreen Credit Union during its normal business hours at no charge, provided the savings are not pledged as security on a loan. You are encouraged to keep your savings intact, so that:

They continue to earn a dividend;

They continue to benefit from the Life Savings Insurance protection;

You maintain your credit worthiness and capacity to borrow.

What are the Forms of Savings available in a credit union?

There are a number of different accounts that are held in Ballinascreen Credit Union to facilitate your saving.

They are: -

The Share Account;

The Easy Share Account;

The Minor Deposit Account.

How do I open a Savings account?

Joining the Credit Union is the best decision you could take for your money.

To become a member of Ballinascreen Credit Union, you must be within Ballinascreen Credit Union’s common bond. The common bond of Ballinascreen Credit Union allows anyone living or in employment within a 6 mile radius of Draperstown to apply to become a member of the Credit Union.

Anyone within the common bond is eligible to apply for membership, and start saving as soon as they are admitted.

To open an account, please visit the Credit Union office and bring the following documents: -

Current photo ID - passport, driving licence;

Proof of residence - Utility Bill, Bank Statement within the last 3 months.

Our Credit Union lets people in the community come together to save and borrow money at low rates. It is operated on a not-for-profit basis, with surpluses being returned to members in the form of yearly dividends.