LATEST NEWS

11 Feb 2021

Our Website is Live

Welcome to our new website. We have worked hard with our partners in Progress Systems to deliver you a website that is both easy to access and showcases our key services.

11 Feb 2021

Online Banking

We are now offering a full Online Banking service to all of our members. You will need to Register for a PIN to use this new service. Once we have validated your identity, we will send you a temporary PIN via SMS.

27 Feb 2021

Temporary Opening Hours

In light of the current situation, we wish to do our part to reduce contact and the spread of the virus. Our opening hours have changed from Thursday 14th January

01 Apr 2021

Easter Opening Hours

Easter Opening Hours. Notice to members. We apologise for any inconvenience

01 Jul 2021

Bank Holiday - Mon 12th July 2021

Notice to members: The office will be closed Monday 12th July 2021. We apologise for any inconvenience

Savings

We all know the merits of saving money, either for something specific or for that "rainy day". The big difference between your credit union and any other savings account is that members own the credit union. Our Philosophy has always been to look at things differently.

The core idea is this:

  • Your savings with the credit union are called ‘Shares’. We also have deposit accounts.
  • Each share you hold is eligible for a dividend should your credit union declare one.
  • In the event of your death your credit union savings are insured - subject to terms, conditions and eligibility criteria - at no direct cost to you.
  • No matter how much you have saved, all members aged 16 or over, have equal voting rights on issues affecting their credit union.

Each and every £1 you save is equivalent to 1 share in the credit union. If you begin to save regularly it won't be long before you build up a healthy balance.

Some of the many benefits of saving with Enniskillen Credit Union Limited:

  • Easy access to your money once it is not used as security against a loan.
  • No hidden charges or fees on any transactions
  • Life savings insurance for eligible members
  • Nomination of account proceeds (see more information below)

When you save with us you are also building a history which will be taken into account in the future should you wish to apply for a loan.

If we accrue a surplus, the credit union may declare a dividend following the end of the financial year.

If so, you will get a return on each share you hold. In the meantime, the money you’re saving is being used to provide loans to your fellow members.

You can withdraw money whenever you want - provided the money is not pledged as security on a loan and subject to credit union rules.

Built in Life Savings Insurance

Eligible members’ savings are covered by Life Savings Insurance at no direct cost to you. Life Savings insurance is the life insurance cover your credit union takes out for all eligible members as an additional incentive to save regularly and maintain savings with the credit union. The insurance amount is paid, in the event of your death, in addition to the amount of savings held in the credit union and will depend on your age and how much you have saved with your credit union over the years.

Withdrawals may affect the amount of insurance payable. Click here for more information.

Nomination of your accounts

This is a unique facility for credit union members. Credit unions have a nomination facility whereby if you are over 16 years of age you can nominate who is to receive the property of your accounts with the credit union upon your death.

This is of benefit if the member dies without leaving a will as the property left in the credit union will not have to pass through the sometimes timely intestacy process.

Are my savings secure?

Credit Unions in Northern Ireland are covered by the Financial Services Compensation Scheme (FSCS). Please go to http://www.fscs.org.uk for more information.

In addition to this, the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions is also available to proactively intervene to protect members' savings by making available financial assistance to help any credit union which may experience difficulties.

Also, members’ savings are insured through Life Savings Insurance (subject to certain terms and conditions). For more details, visit the Insurance section.