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Debit card and online banking launched at Letterkenny Credit Union – Donegal Daily

Letterkenny Credit Union has launched the new MYCU Debit Mastercard®, from CUSOP.

Letterkenny Credit Union is one of 16 across the country that offer the MYCU debit card and checking account.
The MYCU debit card is part of the Mastercard network and is now available to members.

Letterkenny Credit Union members and non-members can apply online through the website or app for a current account with debit card.

To mark the occasion, electronic payment company CUSOP commissioned a survey of 1,000 people that highlights the high level of public trust in the credit union movement, showing:

● 65% of credit unions trust the general public more than their local bank – the figure rises to 86% among credit union members
● 71% of people would use a credit union for a debit card or checking account if they didn’t already have one
● 75% of credit union members would like to be able to speak to someone directly at the branch if necessary.

The study also looked at the impact of the pandemic on our saving, spending and financial planning habits and found:

● Nationally, the average amount saved over the last 18 months was € 4,219
● Regionally, the average amount saved was highest in Dublin at € 5,223
● Leinster was in second place with € 4,537, followed by Munster with € 3,872 and the average saved in Ulster / Connacht was the lowest at € 2,973
● 6% of credit union members have saved more than € 20,000 in the last 18 months – this drops to 4% of the population at large
● When asked to choose from a range of options on what to do with the money, like spending a vacation, helping friends, or buying a car, 42% would choose to keep their savings.

CEO of Letterkenny Credit Union, Gordon randles thinks it’s significant that so many of those surveyed appreciate the opportunity to talk to someone at their credit union: “When people think of the credit union, they think it’s local and accessible. , and this is a valuable feature of our business model as we merge into the digitization of services, especially when some other financial institutions have shut down personal communication.

At the launch were Letterkenny Credit Union board members Ciaran Hara, Maeve Peoples, Mary Dunning, Jimmy Gleeson and Jim Toner. Photo by Northwest Newspix.

Dermot Griffon, CEO of CUSOP (Payments) DAC says, “CUSOP is proud to partner with credit unions to bring the new MYCU debit card to their members. This survey reinforced the key role that credit unions play in their local communities and the extent to which they are trusted to provide financial services. The introduction of the new MYCU debit card will allow members of credit unions to perform all of their daily banking services with their local credit union ”.

Debit card and online banking launched at Letterkenny Credit Union was last modified: October 21, 2021 through Editor-in-chief

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