Latest News

05 Apr 2018

European Union (Payment Services) Regulations 2018

Thurles Credit Union | European Union (Payment Services) Regulations 2018

24 May 2018

Data Protection GDPR

On 25th May 2018, new EU regulations come into effect which are commonly reffered to as the GDPR regulations. The General Data Protection Regulation (GDPR) will strenghten data protection for all citizens within the European Union. GDPR is good news for members. It makes it easier for you to access your personal information and control how it is used.

27 Apr 2019

Online Loan Applications

Experience the power of our new Online Loan Application, an innovative way to secure your Thurles Credit Union loan efficiently and without any hassle.

30 May 2019

Member Notice Savings Cap

In recent years, Thurles Credit Union (TCU) has experienced a significant increase in the level of savings held by members. In 2018 alone, our savings increased by €7.46 million. Under Central Bank regulations, all credit unions are required to maintain reserves of at least 10% of our assets.

07 Oct 2019

Maintenance to our website

Due to maintenance to our website you will not be able to transact today the 30/09/19 from 5pm until 9am Tuesday the 01/10. We apologise for any inconvenience caused.

01 Jan 2020

Managing Financial Debt

Thurles Credit Union | Managing Financial Debt

26 May 2020

Member notice for Online Banking Changes

Please note that we will be introducing some improvements to your Online Banking experience over the coming months. These changes are in preparation for compliance with European banking regulations - Payment Services Directive 2 (PSD2) - which come into force on September 14th 2019. These regulations bring additional safety and security to your online banking.

21 Jul 2020

Coronavirus

Due to the rise of the Coronavirus (COVID-19) within Ireland, we thought it to be prudent to share some of the additional ways you can access your Credit Union services.

Loan & Savings Insurance

One of the great benefits of credit union membership is the free insurance provided on savings and loans and members frequently ask about it.

Loan Protection Insurance

Loan protection insurance is provided by your credit union for you, the member, at no extra cost. This means that your dependents will be protected against this debt in extreme circumstances. All loan balances are insured provided certain criteria are met.

This means that in the event of death, terminal illness, or a member becoming permanently disabled, then the insurance cover provides that the loan (up to certain limits) is repaid in full. Each member of the Credit Union is eligible for loan protection insurance if they meet the following criteria:

  • Have not reached your 85th birthday.
  • Have signed a promissory note when the loan is granted
  • Are actually at work (or physically capable of carrying out the normal work duties)
  • If not working but in good health
  • Member is the first named on the account

Please note that even members who don't meet all of the above criteria may be eligible for loan protection insurance provided satisfactory evidence, e.g. A Certificate from a certified doctor, is submitted to the insurer.

In the case of joint accounts, the first named member shall be insured in respect of any loan. Cover applies only to the borrowing member whose signature appears first on the credit agreement.

Note: Members should not confuse Loan Protection Insurance (LPI)with Repayment Protection Insurance(RPI).

Life Savings Protection Insurance

Life savings insurance is the life assurance cover Thurles Credit Union provides for its eligible members (free of charge) as an additional incentive for members to save regularly with the credit union. The amount of insurance benefit to which a member is entitled is proportional to the amount of savings the member has and benefits are payable only on death of a member (some terms and conditions apply).

Savings Cover Limit

All Thurles Credit Union's member shares are insured up to a maximum of €5,000.

Up to age 54

100% insured on balance or lowest balance thereafter

i.e. you will receive an extra 100% of your savings that are in your account up to a maximum of €5,000

Age 55-59

75% insured on balance or lowest balance thereafter

i.e. you will receive an extra 75% of your savings that are in your account up to a maximum of €5,000

Age 60-64

50% insured on balance or lowest balance thereafter

i.e. you will receive an extra 50% of your savings that are in your account up to a maximum of €5,000

Age 65-69

25% insured on balance or lowest balance thereafter

i.e. you will receive an extra 25% of your savings that are in your account up to a maximum of €5,000

Effect of Withdrawals

  • Withdrawals have a negative impact on Life Saving Benefit as claim is based on lowest share amount after the age of 55
  • Amounts lodged after age 70 are not insured, however, withdrawals can affect benefits due

Note: It is worth remembering that it makes sense to leave your savings intact, especially as you get older. It can often make more sense to borrow money using your savings as security. This way you are covered twice in the event of your demise; your loan will be covered plus you will get a top up on your savings under the Life Saving Policy.

The Life Saving Policy payment will depend on the savings you made during the term of membership and the age that lodgements are made as specified in the Table of Benefits above.