First Choice Credit Union launch two new products to celebrate ICU Day®
First Choice Credit Union joins more than 89,000 credit unions around the world to celebrate International Credit Union Day® (ICU Day®) on 17th October. The 71st ICU Day® is an important celebration not just for the global movement, but also for Irish credit unions.
In Ireland, credit unions are more important and relevant than ever. There are now 3.6 million credit union members on the island of Ireland, benefitting from €4.9 billion in loans. Lending by credit unions is up by 7.2% year-on-year, as members continue to benefit from affordable and flexible lending terms and conditions.
Credit unions are ethical, not-for-profit lenders that continue to provide effective and viable alternatives to financial institutions which operate for profit. Credit unions genuinely care about their members, and put them at the heart of everything they do. This is why Irish credit unions have won the national customer experience award, CX Award, for a record-breaking five consecutive years. They are the only organisations in the world to have achieved this.
The theme for the 71st ICU Day® is ‘Local Service. Global Reach.’ This is reflective of how each individual credit union serves a local community. Collectively, this local connection has a global effect – there are now 260 million credit union members in 117 countries worldwide.
Celebrations in Irish credit unions on 17th October will revolve around the ‘Local Service Global Reach’ theme. To mark the occasion, First Choice Credit Union are launching two new products – a new House Loan (Mortgage) product where members can now borrow up to €300,000 and an ECO Home Improvement Loan at a reduced rate of 6.95%*. The new ECO Home Improvement Loan will be available to members planning to improve their household energy efficiencies. To further celebrate, FCCU are running a competition from Monday 14th October through Thursday 17th October. Keep an eye on their social media pages, website or pop into any branch in Achill, Balla, Ballyhaunis or Castlebar over the coming days for further information and how to enter – we hear there’s plenty of prizes up for grabs.
Speaking about the new products being launched to mark ICU Day® Michael Boland Lending & Business Development Manager at First Choice Credit Union said: “First Choice Credit Union, like all credit unions, shares a common goal to offer access to affordable loans to the local communities we serve. We strive to provide even the most financially disadvantaged sectors of our communities with the tools and the opportunities to be financially self-sufficient. We go over and above on a daily basis in an effort to help achieve their life goals; be they education or travel goals, a wedding or renovating the home for the family. This is the credit union difference that makes a real, positive impact on the lives of our members throughout our common bond with who we look forward to celebrating ICU Day® with.”
First Choice Credit Union currently has a membership of almost 30,000, and in the past year alone has provided circa €18m in loans to the local community.
* For a €50,000, 10 year variable interest rate loan, with 120 monthly repayments of €579.27, an interest rate of 6.95%, a representative APR of 7.18%, the total amount payable by the member is €69,511.08. Information correct as at 9/10/2019.