Tel: (01) 7031328 Fax: (01) 7031344
Hotel Discount for Members
We are delighted to announce that we have teamed up with
The Gleneagles Hotel in Killarney to offer
a special discount rate for all of our members.
All Citybus members will be offered a 10% discount when booking accommodation in
The Gleneagle Hotel along with a number of its Sister Hotels in the South of Ireland.
To avail of the offer, please LOGIN to the members area of the website.
You can view all of the details under the SPECIAL OFFERS - HOLIDAYS tab,
located on the left hand side of the page.
Should you require any other information regarding this offer,
please do not hesitate to contact the office.
Offer not available in conjunction with any other offer or package.
Terms and conditions apply.
Commission on Credit Unions Interim Report.
In October 2011, the first of two reports was published by The Commission on Credit Unions. The Commission was established by Government on 31st May 2011 to review the future of the credit union movement and to make recommendations in relation to the most effective regulatory structure. These recommendations are to be made in keeping with the sector's not-for-profit mandate and their voluntary and community based ethos, while paying due regard to members' deposits and interest.
The full report can be viewed by clicking here.
Citybus Employee's Credit Union welcomes the publishing of the report and believes that it is a positive step in strenghthening the movement as a whole. We look forward to the implementaion of an enhanced regulatory and governance framework as a result of the Commission's findings.
Citybus endeavour to continue to operate at a best practice level and are, as always, fully compliant with all regulatory requirements as set out by The Central Bank of Ireland.
Give me 10 good reasons.....!
There are many reasons why almost 3 million people across Ireland are members of credit unions, and continue to allow us to provide and look after their financial needs. Here are just a few!
- Member's savings remain safe and protected under the Government's Deposit Guarantee Scheme of up to €100,000 per depositor.
- Our number one priority at all times is to serve the best interests of our members and this will be reflected in all decisions taken by this credit union, now and into the future.
- The movement as a whole will continue to make prudent and responsible decisions on behalf of their members and we will continue to prioritise provisioning and reseves to protect their interests.
- Credit unions are a huge asset to the country - they grew out of the banking instability of the 1950's and are as needed now as they were then.
- Credit Unions have a rich history in local areas and exist only to serve local members and not to profit from their needs.
- Despite enormous change, in addition to new and increased regulatory considerations, credit unions remain vital and accessible providers of essential financial services across the country.
- We are currently working to ensure a strong, viable and competitive credit union alternative to the remaining commercial banks in Ireland.
- Credt unions will continue to be owned by their members and managed by ther Boards.
- Credit union services and attitude to our members will never change. We do things differently. We are not banks. We are not-for-profit financial co-operatives.
- We provide a safe environment for your savings and offer loans to credit worthy members. The ethos remains the same today as when credit unions were established in Ireland over 50 years ago.
Board of Directors.
Media Coverage of Credit Unions
Appointment of Special Manager to Newbridge Credit Union.
Recent media coverage and articles relating to Newbridge Credit Union having a Special Manager appointed has no bearing on the performance of Citybus Credit Union. Every credit union is financially independent of other credit unions. We have sound finances, and YOUR MONEY IS SAFE IN OUR HANDS. We have a professional team managing your credit union and our staff are on hand to assist you with any questions you may have at this time.
Citybus is fully compliant with all regulatory requirements and this has been confirmed by recent audits conducted on behalf of the Central Bank of Ireland and the Irish League of Credit Unions.
Citybus Credit Union remains a strong, secure financial co-operative which continues to offer a secure place for your savings. We are also very much open for lending and loans will continue to be advanced to credit worthy members.
We are well positioned to continue providing members with their saving and loan requirements. As ever we will operate in a prudent and co-operative manner in the best interests of all members.
Please do not hesitate to contact us if you have any queries that you wish to discuss.
Board of Directors,
Citybus Employee's Credit Union.
Christmas Car Draw Winner
On behalf of all the Board and Staff of Citybus,
we would like to extend a huge congratulations to Richard Killeen
who was the lucky winner of our Christmas Car Draw,
which was held in Harristown on Thursday 15th December 2011..
Richard drove away in a brand new Renault Clio,
which he recently collected from the Bill Cullen Motor Group in Airside.
Happy Motoring Richard!
Happy New Year
We would like to take this oportunity to wish all of our members and their families a happy and peaceful New Year.
We look forward to continue working with you in 2012 and assisting you with your financial needs.
The Credit Committee will have their first meeting of 2012 on Tuesday 10th January 2012.
Christmas Car Draw
CHRISTMAS BONANZA CAR DRAW
Congratulations to all of the winners of our recent car draw.
It was held on 15th December in Harristown
and was our biggest draw of the year, with a whopping 30 prizes!
There was a great turn out on the day and we would like to thank
the management of Harristown for facilitating the Draw.
The full list of winners is available to view in the members area when you log into your account.
It will also be displayed in our offices and in the garages.
A HUGE CONGRATULATIONS TO OUR FIRST PRIZE WINNER, RICHARD KILLEEN WHO WON THIS BRAND NEW RENAULT CLIO. HAPPY MOTORING RICHARD!!
Our draw costs just €2.50 per week which allows entry to 4 draws per year. All members can join so contact the office today!
Media Coverage
You may be aware of the recent media coverage in relation to Credit Unions and certain regulatory restrictions placed upon them by the Central Bank.
In August of 2009, the board of Citybus, on instruction from the Financial Regulator implemented a new lending policy where each individual member could borrow up to 3 times their share balance, or €10,000 above their shares, whichever is the lesser amount. Also taken into account is each individuals lending history and circumstances.
This policy has not changed in the two years since, and we do not expect in to change in the future. If for some reason however it does, we guarantee that you, the members, will be the first to know.
We would like to take this opportunity to reassure members that we are open for lending. We will continue to offer loans in a prudent and responsible manner, ensuring that members interests and shares are protected at all times.
NOTICE TO MEMBERS
The Criminal Justice
(Money Laundering & Terrorist Financing) Act 2010
Under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, all financial institutions and other designated bodies including credit unions are obliged to deter, detect and assist in the prevention of possible money laundering and terrorist financing activity.
To comply with this credit unions are obliged to verify the identity of its members and ensure that all existing accounts are bona fide.
To assist in complying with this requirement Citybus Employee's CU Ltd would appreciate if you would make available when requested a form of identification used by you in situations when identification is required.
Your assistance and co-operation in this matter is greatly appreciated.
Board of Directors
Citybus Employee's CU Ltd.
HOME PAYMENTS Ltd.
It was with great regret that Citybus learned of the collapse of Home Payments Ltd. They were a Budgeting Service and although we never had any direct dealings with them, unfortunately we were informed that a number of our members had accounts with them.
Some people sufered substantial losses as a result of their closure. In these troubled economic times, any loss big or small, can have serious consequences for a family.
Citybus would like to remind all of our members, especially those affeted by the Home Payments closure, that we operate a budget account scheme which is open to all members. It is by far one of our most valuable services, allowing the payment of all houselhold bills.
You can open an account on a quarterly basis, with the next one being October 1st. If you would like to open one of these accounts, then please do so by this date.
For more information click here, or contact the office where one of our staff will gladly assist you. (01-7031328)
Payment of members accounts
As per our agreement with Dublin Bus, please be advised that any request for a change to your Payroll Deduction Mandate can only be made through CItybus Employee's Credit Union Ltd.
The payroll department of Dublin Bus are not authorised to make changes to a members deuctions.
Kind regards
Board of Directors
Citybus CU Ltd.
First Aid and AED
We are extremely proud to announce that our staff and some of our directors have recently completed a first aid training course. The above group picture was taken on the successful completion of the 3 day course.
They are now fully qualified first aiders thanks to the FETAC approved Occupational First Aid Course that they have successfully completed.
We have also bought an Automated External Defibrilator (AED) for our office. The staff and directors concerned are also fully trained in how to use this life saving piece of equipment.
In the unfortunate event that any member should have a medical emergeny while in our offices, or anywhere in the CIE Club, please alert a member of our staff immediately.
Citybus Employee's CU Ltd.
EFT’s
Citybus is delighted to announce the introduction of EFT's. Members can know have their money paid directly into their bank accounts.
This great service cuts out the hassle of going into your bank to lodge/cash your cheque.
If you wish to avail of this new service you will need to have your sort code and account number to hand when withdrawing your money.
Citybus Employee's CU Ltd.
Revised Credit Committee Policy
All members should be aware that the
Credit Committee have revised their current Lending Policy;
The new policy will be effective from 1st February 2011.
The new policy is available to view on our website, on the left hand side under Credit Committee, in the Office, or in your Garage.
If you have any questions in relation to the policy, please do ot heitate to contact us.
Members taking Redundancy
Did you know that any member leaving Dublin Bus through redundancy, or for any other reason, need not close their Credit Union Account.
If you find yourself in this position, please call to the office were we can set up an alternative payment plan, i.e. setting up a standing order from your bank account.
You can continue to enjoy all the benefits of being a member of Citybus Employee's Credit Union, even though you are no longer an employee of Dublin Bus.
Manager,
Citybus Employee's CU Ltd.
01-7031328
BUDGET ACCOUNTS : 2011-2012
Budget accounts are up for renewal on the 1st October 2011
Any memeber with a budget account is asked to call to the office to fill out a new form so as to update their account.
Members, please be advised that If you are overdrawn on any of your categories you will not be able to withdraw from that particular category.
Eg: If you have budgeted €1,000 for ESB and withdraw it all, yet still have an ESB bill to pay, you will not be able to take the money from that category. It is however up to you if you wish to take it fom somewhere else, ie, NTL/Eircom etc... Please be aware however that this may leave you short somewhere else.
Please ensure that you have allowed sufficient funds to cover your Budget for the year.
Pauline Woods
Manager.
Loan applications
Members,
Please be aware that as and from 1st August 2010 all members applying for a loan will need to supply photographic I.D. and proof of residence/address.
This is to keep in line with recent regulatory guidleines and will apply to ALL loan applications, regrdless of amount.
We ask members to co-operate with us in ensuring we meet these new guidelines set out by the Financial Regulator.
Thank you,
Board of Directors.
Citybus Employee's Credit Union Ltd.
New Website
We would like to welcome all of our members to our brand new website!
If you are having any difficulties accessing your account ,
please do not hesitate to contact the office.
We hope all members will continue to enjoy the many advantages of using our website.
In the coming months we will be introducing many new features such as online statements and AGM notifications.
If you have anyfurther suggestions as to what you would like made available on the site please let us know!
Change of Banks
IMPORTANT NOTICE:
Members, please be aware that with effect from 8th April 2010,
we have changed banks.
We are no longer banking with Permanent TSB in Henry Street.
Our account is now with Bank of Ireland, O’Connell Street.
Cheques will no longer be cashed at Permanent TSB,
Bank of Ireland in O’Connell Street will cash
our members cheques on our behalf.
If you are a member making payment by standing order,
you will need to fill out a new standing order mandate,
advising your bank of this change.
We have contacted all members who pay by standing order,
but if for some reason you have not received a new mandate by post, please contact the office and we will send one to you.
We apologise for any inconvenience or confusion this may cause,
and thank you for your on-going co-operation.
Kind regards,
Board of Directors Citybus CU Ltd.
New Lending Policy from Board of Directors.
Following the quarterly review of our Lending Policy by the board of Directors, the following loan ratio applies from the 7th September 2009;
The policy is either a share to loan ratio of 3:1, or a maximum of €10,000 above shares, which ever is the lowest amount.
For example, if you have €3,000 in your shares, you will be considered for a loan of up to €9,000. (3:1 ratio)
However, if you had €8,000 in your shares you would be considered for a loan of up to €18,000. (€10,000 above your shares being the lowest amount, rather that 3 times your shares)
All loan applications are subject to the formulated policy of the ratio that applies to 1st, 2nd and subsequent loans.
All lending by Citybus Employee’s Credit Union is done so on the basis of;
- Prudent lending,
- Members credit history,
- Members ability to service and repay borrowings.
As per our policy, all members must repay their loan through Payroll deductions. The amount to be deducted can only be amended by calling to our offices in person to sign a mandate.
Should you have any queries regarding the new Lending policy, please do not hesitate to contact us.
Board of Directors
Citybus Employee’s Credit Union Ltd.
NEW OPENING HOURS
Citybus Employee’s Credit Union is happy to announce that, for your convenience,
we now open throughout lunch 5 days a week.
Our new opening hours will be;
Monday-Thursday 9am to 4pm
Thursday-Friday 9am to 3pm
Board of Directors.
CUCASH ACCOUNT
Citybus Employee’s Credit Union are delighted to offer its members the opportunity to open a CUCASH ACCOUNT.
A CUCASH ACCOUNT is an instant deposit account that earns interest just like regular and special share accounts.
The interest payable will be 1% per annum and set yearly as in the case of the dividend. All deposit accounts are subject to D.I.R.T Tax.
Members can lodge and withdraw savings from this account at any time, as the savings are not held as collateral against a loan.
For more information, or to set up a CUCASH ACCOUNT, please contact the office, where our staff would be happy to assist.
PLEASE NOTE, IF YOU HAVE A LOAN, YOU MUST CONTINUE TO SAVE AT LEAST €10 PER WEEK IN YOUR REGULAR OR SPECIAL SHARE ACCOUNT IN ORDER TO MAINTAIN YOUR SHARE TO LOAN RATIO.
Board of Directors, Citybus CU.
BOGUS EMAILS
Unfortunatley it has recently come to our attention that some of our members are receiving bogus emails in an ILLEGAL attempt to solicit account information from them for fraudulent purposes.
The Email appears genuine and states that it is from the
Irish League of Credit Union Account Review Department
It is asking you to provide additional information in order to provide you with a more secure service. It will ask you to click on a link and fill in a form. It warns that failure to do so will result in limitaions or possible closure of your account.
This is completely bogus. The Irish League of Credit Unions would have no need to contact a member directly and certainly no need to ask for ANY information regarding their account.
If you do happen to receive an Email like this, please refrain from clicking on any links or inputting any personal information. We would also be grateful if you could let us know here in the office of any such correspondence, in an effort to help us monitor and control the situation.
We are very regretful that such emails are in circulation and thank you for your continued support and cooperation.
Board of Directors, Citybus Employees Credit Union.
MEMBER WARNING
Should any member recieve correspondence through post or email from the following:
THE NATIONAL CREDIT UNION ADMINISTRATION
Could you please resist from completing and inform us here in the office of any such occurences.
This is an illegal attemt to solicit credit union and banking details for fraudulent use.
Thanking you for your cooperation.
Board of Directors, Citybus Employees Credit Union.
Additional Paperwork for Loan Applications:
Due to the recent guidelines on loans, issued by the Irish Financial Services Regulatory Authority (IFSRA), the regulatory body for Credit Unions, the Board finds it necessary to introduce a new loans procedure.
Loan applications that are either over €12,000, or will bring a members current loan balance over €12,000, will require additional paperwork:
- Proof of income:
Two-Three recent pay slips or P60.
- Current Bank Statement:
Covering the last three months, showing your full name and address,
and full name and address of your Bank.
- Proof of Address:
Household bill not less than three months old (No mobile phone bills accepted).
- Relavant Information:
Estimates, Invoices, Bills etc..
- Other Household Income (Optional):
Member can submit these if they wish, in support of their application.
All loan applications and appeals to the Board must fully comply with this procedure. A letter explaining reason for application is also required.
PLEASE NOTE:
Neither the Credit Committee or the Board of Directors will consider a loan application that does not meet these giudelines.
Board of Directors.
Nomination Forms
Have you nominated a person/persons to become entitled, on your death, to your savings, loans insurances or otherwise? (Which you may have at the time of your death)
If you do not have this nomination form completed, or your circumstances have changed, i.e Marriage, your savings may have to go to probate, resulting in legal expenses for your family.
It is in your best interest to have this form completed.
Please check in the office if you have completed a nomination form and that it is up to date.
Dublin Zoo Membership
EXCLUSIVE TO CITYBUS CU:
Members can now avail of a 15% Discount for yearly membership to Dublin zoo. A Family pass would normally cost €160 but will cost you just €135 through the Credit Union.
This is an exclusive offer open only to membes of Citybus Employees Credit Union. Call to the office today to pick up an membership form.
Foreign Exchange
Introducing Foerign Exchange Service
Citybus Credit Union are delighted to introduce our new foreign exchange service exclusive to our members. All currencies will be available within 24 hours of ordering.
For more information, or for rates etc.. Please contact the office.
Have you got news for us?
Send us your news and views so that we can keep our news current and up-to-date. If you have any other queries or comments we would be delighted to hear from you at any time.
Youth Zone
Welcome to our zone especially for our young Credit Union Members. Log in regularly to check your account balance, recent transactions, and also to read news from the Credit Union.
Over time, the Credit Union will add interesting articles, competitions and cool downloads, so keep saving and return again soon!
