Derry CU... helping local families manage their household budgets

Derry Credit Union has held a free Coffee Morning to promote credit union loans and personal finance literacy.

The event was held to help local families manage the large financial challenges that exist throughout the summer months and beyond. For many families, the back to school and college periods can be extremely financially stressful times.

The financial burden placed upon families at these times can be immense and Derry Credit Union said it would like to work with their members, be it by way of a savings plan, loan or budget plan.

Rosemary O’Doherty, secretary of Derry Credit Union Board of Directors, said the “CU” was there to best serve its members and would work with them in any way possible to ensure this. Speaking at Coffee Morning, Rosemary O’Doherty, she said: “Summertime brings with it large financial challenges for families in the community.

“One of the great challenges for families is funding back to school and university costs. In times of financial stress, some families turn to expensive sources of credit, such as money lenders, payday loans or credit cards.

“Derry Credit Union prides itself on its innovative people focused approach to loans, savings and other financial services and continues to work for the mutual benefit and general welfare of its members. The credit union’s uniqueness lies in its difference to other financial institutions."

Derry Credit Union was established in 1960 and currently service 29,157 members, with total savings of over £82 million and total assets of over £98 million.

It continues to develop and broaden its range of services for members like the Easy Shares sub-account; schools savings programme; loans for eligible members; loan applications via Phone A Loan and on-line; convenient payment methods such as Bankers Orders and debit card payments at its Abbey Street office; three types of insurance cover for eligible members; and the safe and secure prepaid Visa debit card for members who travel or who don’t like to carry cash.

Redmond Kennedy enjoying a cuppa at the Coffee Morning with with Derry Credit Union staff, Eoghan Tucker and Dawn Bradley. (Photo: Tom Heaney, nwpresspics)