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Current account quarter one fees will be refunded

Mark Murphy, CEO, Killarney Credit Union (right) with Pa Laide, CEO, Cara Credit Union

KILLARNEY Credit Union and Cara Credit Union have announced that, in light of the Covid-19 emergency, they are will not be charging quarter one fees from January to March this year to members who signed up for the current account option with a globally accepted Mastercard debit card with contactless payments.

Both credit unions reported great interest in the current account offer, launched last October, which came with simple and transparent fees and charges.

The quarter one fees are due to be deducted from members’ accounts on April 28 to cover the period from January 1 to March 31 but both credit unions have agreed to refund their members immediately.

Mark Murphy, CEO of Killarney Credit Union, said it was not a decision taken lightly but they are acutely aware of the challenges faced by members in these very uncertain times.

“Helping and supporting members is at the very core of everything we do within the credit union movement and this is why we made the decision to refund our members the quarter one fees on April 28,” he said.

While this is a very welcome gesture by the two credit unions, it is not the only one as both Killarney Credit Union and Cara Credit Union have also put a number of measures in place to help members at this time, including helplines if they are experiencing financial difficulty.

Pa Laide, CEO of Cara Credit Union, remarked: “We would like to let all members know if they are experiencing financial difficulty, we urge them to contact their local credit union, preferably by phone or online, to discuss possible flexible arrangements”.

He added: “We can assure members that they will be treated fairly and with empathy. We hope that by offering as much support as we can to our members, we trust they will continue to support their local credit union when our lives and economy returns to normal”.

As an essential service, credit unions are open for business and more information is available on www.killarneycu.ie and www.caracreditunion.ie.

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