COVID-19 means changes to how credit unions conduct business with members. We know you might have questions around these changes, so we’ve compiled a list of frequent queries for you to read.
If you have any additional questions that aren’t listed below, please don’t hesitate to get in touch with us on 021 – 4872305
1. Will BCU be remaining open?
We have been deemed an essential service which means most credit union offices will adhere to stay open during this time but encourage members to conduct business over the phone and online where possible.
We have amended our opening house slightly – see here
2. I’m concerned about my credit union loan repayment. What should I do?
We are fully aware of the impact which the COVID-19 pandemic has had on members and their local communities. Members are advised to contact us directly by email – firstname.lastname@example.org if they have any concerns in relation to loan repayments.
3. What is the process? Will I be charged if I restructure my loan?
When you contact us, a member of staff will be on hand to guide you through the process and explain to you what your options are. Credit unions do not charge rescheduling fees.
4. Will my credit rating be impacted if I agree to a repayment arrangement with my credit union?
We here at Ballincollig Credit Union fully understand the difficult position which members, through no fault of their own, find themselves in. This is particularly the case for people who have lost their jobs or whose working conditions have been changed. In each individual case, we will endeavor to work with the member to find a suitable solution. Credit unions will not be reporting an agreed temporary repayment arrangement as a missed payment.
5. I am a vulnerable member, who is cocooning. What do I do?
Due to the Government’s advice that persons over 70 years old, or those who are immunocompromised, should remain at home throughout this period, we recommend that such persons should not attend the credit union offices in person. In order to facilitate services at this time, the credit union may contact vulnerable members to advise them of alternative methods of transacting, such as standing orders or direct debits. If you are a vulnerable member and have any queries or concerns in relation to using the services at your local credit union, please don’t hesitate to get in touch for information on how we can help.
6. I am a vulnerable member, who is not cocooning. What do I do?
Each Friday we have allocated priority time from 9.30am – 11.00am for our elderly & vulnerable members.
We have asked all other members to respect this allocated time and let some of our more vulnerable members the time to get their business done.
7. Are credit unions still issuing loans?
Yes. Credit unions across the island are continuing to lend. At Ballincollig Credit Union we are enabling members to apply online or by phone. It may not be high on people’s priorities at the moment but we are still lending. For Lending details – See here
8. What happens if a member dies?
If you are facing the sudden death of a family member and are concerned about their finances with us, we are here to help. Please contact us to talk about the next steps. Credit unions offer loan protection insurance to eligible members. This means should a member with an outstanding loan balance die, the balance is repaid in full, subject to terms and conditions and certain cover limits which apply.
Click here for more info.
Another service offered to some credit unions to eligible members is Death benefit insurance, which helps pay for end of life expenses. It pays a fixed lump sum in the event of death and where death is as a result of an accident, the lump sum can be doubled. There are some terms and conditions to meet for inclusion.
9. Can I access my savings?
You can withdraw your money on demand from most credit union accounts unless they are secured against borrowings. Whe would prefer that members would access their savings and move them if required via our online facility.
10. What is the credit union doing to ensure safety in branches?
All credit unions that remain open are implements social distancing within branches, and restricting access to a certain number of members at a time. At BCU we have also introduced mandatory use of antibacterial hand cleanser at entry to hall, as well as hourly cleaning of teller desks. Credit unions are asking all members to only conduct transactions over the phone or online where possible.
11. How do I register for online banking?
Ballincollig Credit Union offers online banking services that gives you the opportunity to register for an account online and login to use our online facilities.
You can do so on our website. Register Here
12. I cannot get through to my credit union on the phone. What should I do?
Our Credit union staff are dealing with a very high volume of queries and are endeavouring to deal with each enquiry as quickly as possible. Please try to be patient if phone lines are busy. You may wish to check out our website to see if you can find the information you need. Otherwise, you can email the credit union with your query at email@example.com