The newest offering of Dubco's 1 year fixed term deposit accounts will be available to members from the 1st of March 2012! With a deposit end date of 01/03/2013, and offering an interest rate of 3.25% (gross) per annum, these accounts are for lump sum lodgements between EUR5,000 and EUR100,000.
If you are retiring and considering options for your lump sum payment a fixed term deposit account may be the right choice for you. Don't forget that Dubco offer a number of different savings accounts to suit your needs.
Application forms are available here and can be submitted from February 2012 noting that the earliest deposit start date will be 01/03/2012.
As advised to the members present at the AGM, and following Board approval, the monthly draw will now be all cash prizes. The decision to replace the car with an increased cash prize was taken on the basis that the majority of members do not take the car and the cash prize allows the Credit Union to deliver the prize to the member in a faster more transparent way, without involving a garage. For more information click here.
The Directors, Supervisory Committe, Volunteers and Staff of Dubco Credit Union wish to sincerely thank the numerous credit unions, business partners and members for their support and sympathy following the death of our esteemed colleague, John Kelly, in November last.
A remembrance Mass will be held on Tuesday the 21st of February 2012 at 1:05pm in Adam and Eves Church, Merchants Quay, Dublin 8. All Dubco members are welcome to attend.
Please note that the office will close on the 21st of February 2012 from 12:30pm-2:30pm to enable Staff attend the service, we apologise for any inconvenience caused.
May he rest in peace.
Ar dheis De go raibh a anam uasal dilis.
The thirty-forth Annual General Meeting of Dubco Credit Union was held in the Morrison Hotel, Ormond Quay, Dublin 1 on Thursday the 15th of December at 6:00pm.
A dividend of 1.5% for all share accounts was approved by members at the AGM. These returns were posted to member accounts on 16th December 2011. Click here for the full story.
Dubco welcome the publication of the Commission on Credit Unions Interim Report and believe that it is a positive step towards the implementation of an enhanced regulatory and governance framework for the Credit Union sector. Dubco have at all times, and will continue to, operated with best practice and good governance in mind and look forward to further developments in the areas of Minimum Competency Requirements and would welcome further Guidance in these areas.
In addition Dubco welcome the clarity of direction in key areas such as Deposit Protection, Credit Union Stabilisation and Resolution as we have championed these matters for a number of years. We look forward to continued involvement in the strategic planning for the sector and await the second report of the Commission which will focus on the future strategy of the Credit Union sector. Click here for the full report.
Will the talk of financial bailouts ever come to an end? This time it's the credit unions that are making the headlines, queuing up for the banks leftovers. Once again it would be easy to think that every credit union must be in the same boat with all the media coverage, but this isn't the case. There are over 400 credit unions in the Republic; in fact this is one of the problems for the Regulator. Every credit union in Ireland is an independent organisation, some are struggling, others are not, all have undoubtedly felt the pressure of the recessionary environment and been subject to increased regulation.
Here are our thoughts on the current media issues, and if we've missed anything that you've been wondering about please feel free to contact our Communications Team.
With the recent media coverage focusing on credit unions it would be easy to think of the 400 + credit unions in the Republic as being one great big Credit Union Inc. This however is not the case, every credit union in Ireland is an independent organisation which manages its own affairs and is answerable to its members and the Central Bank of Ireland, who regulate credit unions through the office of the Registrar of Credit Unions.
With so many reports in the media on the movement in general, how is a member to know what's applicable to them? Well, while we can't speak for all credit unions, we certainly can speak for Dubco. Here are our answers to a couple of the current hot topic questions in the media.
With all the recent talk of the future strategy in the Credit Union sector, planning has become a regular buzzword here in Dubco and so we got to talking about our members and their planning. We at Dubco would like to remind our members to think about personal financial planning and to remember that Dubco are here to assist members with achieving their plans.
Members can avail of a free consultation meeting with our MEMBERS Financial Services Representative to discuss the areas of Retirement, Investments and Protection in particular, by arranging an appointment. In addition, members can address their personal budgeting requirements through the Flexi Account which can help with the management of their overall financial goals. Click here for the full article.
Recent media coverage focused on the credit union movement has included reports on a number of credit unions who have sought assistance from the Savings Protection Scheme (SPS) of the Irish League of Credit Unions (ILCU). In addition, some reports have highlighted the possibility of increased numbers of credit unions seeking to merge or amalgamate their services in the near future due to rising arrears and losses.
While some credit unions face difficulty due to investment losses, lack of liquidity and increased bad debts, Dubco remains a strong, secure financial co-operative which continues to use the funds from member savings they have built up in a co-operative manner in the best interests of all members. Dubco is well positioned to continue to provide for member saving and loan requirements in a safe and secure way. It should be noted also that while, as has been noted in various media coverage, some Credit Unions were not in a position to pay dividend for the financial year ended 30th September 2010, Dubco paid a dividend to members of 1.50%. The issues identified in news coverage which exist within the marketplace, while of a serious nature and in need of regulatory control and consideration, are not a reflection on the current strong position of Dubco Credit Union.
Click here for the full article.
Dubco are pleased to offer our members health insurance from Aviva, an alternative to VHI and Quinn Healthcare, through a partnership with BuyHealthInsurance.ie*.
BuyHealthInsurance.ie is an authorised intermediary for Aviva Health. In addition they will offer Dubco members free impartial advice on health insurance options. Dubco does not advise on and is not involved in the sale of these insurance products and will not accept any liability for decisions made by members in this regard.
For further information on Aviva Health Insurance products please contact BuyHealthInsurance.ie on 01 484 5122 or email info@BuyHealthInsurance.ie or visit www.BuyHealthInsurance.ie/dubco for detailed comparisons and quotes.
*www.BuyHealthInsurance.ie is owned by Tailored Finance Limited which is regulated by the Central Bank of Ireland.
The 2011 Matthew Dawson Bursary draw was held on the 16th November 2011. There were two winners:
Caroline Cuddy - studying Visual Arts Practice in IADT Dun Laoghaire.
Conor Condon - studying Electro-Mechanical Engineering in IT Tallaght.
We would like to express our congratulations to the two winners and remind all unsuccessful members to enter again next year!
Click here for more information on the bursary or click here for an application form & terms and conditions.
The second annual Gaeltacht Bursary draw took place on the 15th of June 2011. There were ten draw winners, Cathal Cullivan, Thomas Butterly, Erika Millea, Sean Connaughton, Sophie McKenna, Hugh Jordan, Orla Flanagan, Alan Maloney, Aine Walshe and Fiona O'Callaghan. Each won bursaries to the value of EUR 300. We would like to express our congratulations to the ten winners and remind all unsuccessful members to enter again next year!
The Gaeltacht Sponsorship Scheme is designed to assist the children of Dubco members to attend approved Irish Language courses in Gaeltacht areas during the summer months.
Find out who the recent winners of our members draw are.
View our current and archived Newsletters online now. View our 2011 Annual Report and archived Annual Reports online now. Newsletters
Annual Reports
2008-2010 Draw Winners