Congratulations to all who participated in Wicklow and District Credit Union Ltd.  National Schools Table Quiz which took place in the Grand Hotel, Wicklow on the 3rd February.  There was a great turnout with 17 teams representing the various schools in the area.

Well done to both the senior winners Gaelscoil Chill Mhantain, runners up in the category were Scoil Na Coroine Muire Ashford and the junior winners Gaelscoil Chill Mhantain, runners up in the category were Wicklow Montessori School. 

 The Credit Union Chairman, Mr. Kieran O Flaherty stated that: …there was a fantastic level of interest in the quiz and all the children had showed an excellent level of general knowledge, he went on to thank the teachers and student’s families for their support on the night.

Gaelscoil Chill Mhantain, will now proceed to Stage 2 Chapter (Regional) Level of the quiz to represent Wicklow and District Credit Union Ltd.

To see additional photos taken on the night go to our home page and click on the Facebook icon

  The Irish League of Credit Unions (ILCU) has launched its 2012 All – Ireland Schools Quiz. The annual event, now in its 21^st year has become the highlight of the school calendar, attracting over 25,000 participants in over 300 venues throughout the 32 counties.

The Quiz will be run throughout the winter months in communities all over Ireland by volunteers from over 496 ILCU affiliated credit unions.

With the aim of encouraging teamwork among young school children under the age of 13, the questions for the Quiz are compiled by primary school teachers and will cover topics such as geography, history, music, literature and sport.

The Quiz consists of two knock out stages at local and regional level and culminates in a National Final Day in Dublin in early April 2012 where 100 qualifying teams compete

Speaking at the 2011 Quiz Launch, President of the ILCU Jimmy Johnstone said: “We wholeheartedly support the development of young people in communities all over Ireland.  We are delighted to be here marking the 21^st year of the Quiz and to launch the 2012 event which is set to be our biggest yet.”

He added: “I want to say a big thank you to our volunteers from credit unions nationwide who work incredibly hard to make sure this event is a success year on year. The purpose of the credit union movement is more than merely providing financial services and this is a very important event for us. This is a way for children around Ireland to have lots of fun while learning the importance of team work in achieving success.”

About the All-Ireland Schools Quiz

The Quiz is divided into two sections: Competition A for children up to 11 years and Competition B for children between 11 and 13 years.

Competition A:  Entrants must not have reached their 11^th birthday on or before 31^st December 2011.

Competition B:  Entrants must not have reached their 13^th birthday on or before 31^st December 2011.

Local Quiz winners go through to the Regional Finals and regional winners and runners-up (100 teams of 4 children) will compete for the National titles in April 2012.

Teams must submit their entry on the official entry form to their local credit union by 20^th January 2012.      

Rules – 2012 Schools Quiz

• Teams must comprise of 4 children

• Teams can only enter the quiz once

• Schools may enter as many teams as they wish, subject to any limitations a local credit union wishes to impose

• Team members must be attending the school they are representing at the time of the quiz

• A team’s participation in Competition A or B is determined by the age of the eldest member of the team (e.g. if two children are 10 and two are 12, the team must enter Competition B)

• Teams must submit their entry on the official entry form by Friday 20th January 2012 to their local credit union

• Teams may not change members between Stages, other than in exceptional circumstances and then only following a formal request to the organisers

• Substitutions cannot be submitted on day of the quiz

• In the event of queries at the quiz, the decision of the Quiz Adjudicator will be final and no correspondence will be entered into

• Prompting can be considered as cheating and lead to a team’s disqualification

• Children are prohibited from taking mobile phones into the quiz venue.  Mobile phones found will be confiscated and the competitor will be disqualified

• Whilst the credit union will endeavour to provide a safe and comfortable environment for children during the event, the credit union will not act in loco parentis and the primary responsibility for the children remains with their parents/guardians at all times

• The consent form (part of the entry form) allowing credit unions, chapters and the ILCU to use photographs of the participants, should be signed and returned with the entry form.  If parents or guardians have decided not to give their consent, this should be clearly indicated to the organisers of the quiz

• The Irish League of Credit Unions (ILCU) will not be responsible for resolving any disputes/queries occurring at stages 1 and 2.

 October 20, 2011

This year’s International Credit Union (ICU) Day theme is:

“Credit Unions Build a Better World”

The World Council of Credit Unions (WOCCU) has announced this year’s International Credit Union (ICU) Day® theme, “Credit Unions Build a Better World,” celebrates the important economic and social contributions credit unions make to their communities worldwide.

It also aligns credit unions with the greater cooperative business sector and the United Nations as they launch the International Year of Cooperatives 2012 later this year.

On Thursday, October 20, credit unions in Ireland and worldwide will celebrate International Credit Union Day and the role that financial cooperatives play in improving the communities they serve and the lives of their members the world over. The theme of the event, “Credit Unions Build a Better World,” encapsulates what has long been the credit unions’ principal mission – creating value through member service.

 In an era that continuously poses economic and financial challenges for people around the world, this theme honors credit unions’ principle of putting people before profits. It is the goal of all credit unions to offer access to affordable financial services to all their members and provide even the most financially disadvantaged the tools and the opportunity to be financially self-sufficient.

Credit unions are unique because they are not-for-profit, democratically controlled, member-owned cooperatives. Credit unions pool their members’ assets to provide low-cost loans and other financial services in the best interest of the members, not to earn shareholder profits. The credit union movement’s cooperative spirit is embraced by 183 million members served by 49,000 credit unions in 97 countries worldwide, working together to achieve economic progress. Credit unions play a vital role in the economic development and stability of the communities they serve, helping people improve their lives through access to affordable financial services and making the world a better place to live.

 This year’s theme also recognizes other types of cooperative businesses and serves to highlight their contributions to poverty alleviation, job creation and social integration. On October 31, 2011, credit unions will join the United Nations and cooperatives worldwide to celebrate 2012 as the International Year of Cooperatives. Help make our voice be heard.

 Stellar member service and democratic control are just some of the many benefits of being a credit union or cooperative member. That’s as true of the credit a union here in County Wicklow as it is in other cooperatively-owned financial institutions from Afghanistan to Zimbabwe. Cooperatives and credit unions are founded on community service, a principle that has distinguished them for more than 150 years.

 This International Credit Union Day, we hope you will join us in celebrating the credit union difference, our proud cooperative heritage and the wonderful opportunities credit unions and cooperatives offer members of the Wicklow community every day.

Over 30,000 entries expected for 28th Credit Union Art Competition!

Competition is one of the biggest art projects on the island of Ireland.

The Irish League of Credit Unions has today launched a completely new All-Ireland Credit Union Art Competition.  The former poster competition has this year changed to an ‘art’ competition to encourage wider participation across the 32 counties but also to allow for greater artistic freedom and expression. 

The competition, which attracts over 30,000 entries each year, will be run through a network of over 497 credit unions located throughout the island of Ireland. The theme of this year’s revamped competition is ‘Ireland through my Eyes’ which is open to interpretation by each entrant.

Speaking at the launch, Jimmy Johnstone, President of the Irish League of Credit Unions said: “The main aim of this competition is to encourage interest in creativity and art and the huge volume of entries we receive year on year is the reason why we continue to run our annual, all-Ireland competition.  It is one of our flagship events and we are delighted to see the variety, flair and creativity of the young people of Ireland who enter the competition on an annual basis. The competition has been going from strength to strength and we are determined to continue supporting budding artists into the future”.

He continued: “I want to say a huge thank you to the hundreds of credit union volunteers and staff throughout the country who run the annual competition and I want to take this opportunity to wish every entrant an enjoyable and instructive time creating their entry.”

How the Credit Union Art Competition Works  

There are two categories in the 2011 national Art Competition – General and Special. Each category will have the following age groups:

• 7 years and under
• 8-10 years
• 11-13 years
• 14-17 years
• 18 years and over

The Special Category encourages participants with a physical or intellectual disability to submit entries in free expression without the restriction of the competition’s official theme (should they so wish).

Local winners at credit union level in each category go forward to Regional Finals. Winning entries from regional level go through to the National Final. Prizes will be awarded at each stage and a National Awards Ceremony will be held in February 2012 at the Gresham Hotel and will be hosted by TV personality Marty Whelan.

All entries must be submitted to your local Credit Union – Wicklow and District Credit Union, prior to 4pm on 28th October 2011.   

Art Competition is Open to Members and Non Members

To Down Load an Enrty From – Please click on this link - Art Entry Form 2011 

For additional information and updates go to  http://www.creditunionart.ie/

The credit union’s total assets are €36 million. Member savings exceed €29 million and are backed by the Irish Government Deposit Guarantee Scheme.  Last year the credit union facilitated its members with 2065 individual loans.  Member Loans currently exceed €15 million with the added benefit of the Loan Protection Scheme at no extra cost to members (terms and conditions apply).  The Credit Union has maintained a sound operating surplus and paid a dividend, a loan interest rebate and interest on deposits to its members in preceding years.    

We Look at Things Differently

The ethos of Wicklow and District Credit Union Ltd  remains the same today as when it was first established in 1963 – a not for profit co-operative providing a safe environment for savings and access to fair and reasonable credit  to members.   The credit union has always encouraged members to manage their money carefully by structuring loans around needs and their ability to repay. 

The credit union is where your savings give you a say.  No matter how many savings you have with Wicklow and District Credit Union all members (aged over 16) have equal voting rights on issues affecting the credit union.  The big difference between your credit union and other savings accounts is, members are shareholders.  It’s YOUR credit union.

The credit union has an ethos of supporting local initiatives.  Wicklow and District Credit Union has maintained its investment in the community by supporting organisations in the common bond.  It also continues to support local children by running local art and quiz competitions which have access to national finals.  Wicklow and District Credit Union is proud of the role it continues to play in being more than just a financial institution but a valuable resource to its community and its people.

Wicklow and District Credit Union has over 8,000 members.  While also employing nine people it has fourteen volunteers who help to run the credit union, not because they receive big bonuses or any form of financial incentive but because they believe that community matters and the credit union is important to the communities of Wicklow and District.  Members are encouraged to reflect on the personal and community benefits of continuing to save and borrow with your credit union for the benefit of many rather that the few.

Launch of On Line Services:

Wicklow and District Credit Union is delighted to announce the launch of the web site: www.wicklowcu.ie which provides detailed information about the credit union and its services.  A Budget Calculator and Loan Calculator provide instant quotes are just some of the new features and tools available.

For Members there is a member’s only area, providing the following;

• Access to your account balances and details 24/7
• The ability to apply for loans online
• A new quick, easy way and secure way to get in touch with the Credit Union
• Change your access details

The new website is all about stepping into the modern era and giving members even more convenience and flexibility to avail of the services we provide. We hope you find the online service a great addition to your credit union and we look forward to help making your use of Wicklow and District Credit Union as easy and convenient as possible.

Borrowing from the Credit Union

‘People helping People’, ‘Neighbours’ helping Neighbours’’.

Before taking out a loan of any kind, it’s worth taking the time to understand the costs and how the lending works.  Most financial institutions which lend money are in business primarily to make a profit on the transaction.  The credit union is in business solely to help its members. Legal money lenders can charge as high as 150% interest, however Wicklow and District Credit Union Ltd charges 9.41%APR and for this reason we would suggest your credit union should be top of the list when it comes to borrowing. 

Why is a Wicklow and District Credit Union loan better?

A credit union loan has some very special features:

• Loans are insured at no direct cost to the eligible member.
• No hidden fees or transaction charges.
• Reasonable interest rates.
• Repayment terms to suit your particular circumstances.
• You can repay the loan earlier with no penalty.
• Additional lump sum repayments accepted with no penalty.
• Flexibility to make larger repayments than agreed with no penalty.

How is a credit union loan applied for?

Only credit union members can apply for a credit union loan.

If you are a member, speak to any member of the credit union staff about making a loan application or complete the online application form.

If you’re not already a member, call in for more details or check on line on how to apply for membership.

Money Management and Dealing with Debt

In the current financial climate many people are experiencing difficulties in managing their money due to wages being reduced, working hours being cut or redundancy The last thing you should do is ignore your debts as they won’t go away.  If you are having difficulties in relation to your credit union loan repayments, please contact us as soon as possible so that we can negotiate an acceptable agreement.

Remember the money you have borrowed from your credit union comes from your neighbours savings and not faceless investors, thus by not repaying your credit union loan as agreed you reduce the pool of money that the credit union has available to lend to other members, operate  essential credit union services and pay dividends.

Commenting on Wicklow and District Credit Union Limited,

Kieran O’Flaherty, Chairman said:

“Wicklow and District Credit Union continues to provide excellent services for our members and we are welcoming new members every day. However we readily acknowledge that there are challenging and difficult times ahead for us. We will continue to manage our affairs in a prudent and proactive manner.  Wicklow and District Credit Union Ltd. is open for business and we have funds available for members with a sound repayment capacity to borrow.  We are confident of yet another successful Financial Year in 2011.  We know that loans are important to our members and we will continue to provide competitive rates and essential services to them.”

In reply to recent queries in the media Credit Union Manager Pat Hore said;

“Wicklow and District Credit Union Ltd is Strong, Safe and Secure, as you will note from our last audited Financial Statement.

Your savings in the credit union are secure as they are covered by the Government’s Deposit Guarantee Scheme which guarantees savings up to a maximum of €100,000 per member in the credit union, Wicklow and District Credit Union Ltd will continue to be owned by the members and run by the elected Board of Directors.

Credit unions are never able to predict what the dividend will be year on year.  We like many credit unions are facing challenging times, and the provision of prudent reserves must be our priority at this time.  The issue of a dividend for 2011 will be dealt with at the credit union’s AGM at the year end.

The credit union is dealing with many new regulations and requirements at the moment; however we will continue to assess all loan applications in a prudent manner in the best interest of our members and the credit union as a whole”.

‘Strength in Unity’ – theme for two day session

This weekend over 4,000 representatives, including 1,500 delegates from 498 credit unions all over Ireland – north and south are meeting at Belfast’s Waterfront for the Irish League of Credit Unions (ILCU) Annual General Meeting. The conference is reviewing strategies to further the development of the credit union movement in Ireland in 2011 and beyond.

Deputy First Minister Martin McGuinness addressed delegates at the opening of the conference speaking about the contribution the credit union movement in Ireland, North and South, has made to the wider economy; the culture of ‘community’ in the credit union sector and vital role that the credit unions play in providing access to affordable credit.

Belfast Lord Mayor Councillor Pat Convery welcomed the ILCU to Belfast Waterfront commenting on the numbers that had travelled for this important event. Later that afternoon, to mark the European Year of the Volunteer Mickey Harte, GAA personality and motivational speaker addressed the delegates on the importance of volunteering and community solidarity.

Credit union staff and volunteers have gathered for two days of meetings to discuss the future plans of the credit union movement. The conference will address the challenges and opportunities facing credit unions in a rapidly changing economic and social environment.

The theme of this year’s AGM is “Strength in Unity” which reflects the ethos of the credit union and their unique all-island, cross border status. Discussions will focus on how to provide more enhanced, efficient services to member’s who are struggling as a result of the economic downturn.

Kieron Brennan, ILCU CEO said: “This is a very important time for the credit union sector. We are operating in a vastly different economic landscape and credit unions are aware of the need to continually look at new ways in which to best serve their members. The credit union movement recognises that change will be necessary. We now need to embrace new regulations, not as restrictions to practice, but as prudent principles which will ensure the long term stability and security of credit unions.

We welcome recommendations in relation to the most effective regulatory structure for credit unions taking into account our not for profit mandate, volunteer ethos and community focus, while paying due regard to the need to fully protect members’ savings and financial stability and our need to serve our members in the most efficient way possible.”

ILCU President Mark Bailey said: “Credit unions have not been immune to the current financial crisis and when our members suffer, we suffer. However, we have weathered the financial storm well, increased our membership and continue to serve local communities across the country as we have done for over 50 years. The vastly different financial services landscape in which we are now operating, offers great opportunity for the credit union movement. This is a very important time for us.

We are very pleased to welcome Deputy First Minister Martin McGuinness MP, Councillor Pat Convery and Mickey Harte to the AGM this year.  I am certain that their attendance will prove informative and productive in terms of their outlook for the future of credit unions.”

Stage 2 - Chapter Level 

Date: Friday 4 March 2011 – Chapter 24
Fri 4th March 2011. 

Winners of Competition A and B (2 teams in total) from each participating Credit Union progress to Stage 2 Chapter Level

Winners and runners-up of Competition A and B (4 teams in total) Chapter Level progress to Stage 3 (National Final).