Winter Newsletter 2022

Chairperson's Address

Welcome to Killarney Credit Union Newsletter for Winter 2022. To begin I would like to introduce myself – My name is Joy Clifford-Vaughan and I was elected as the Chairperson of Killarney Credit Union in December 2021. My first year as Chairperson has presented challenges as well as great innovation in new products and development. Whilst the effects of the pandemic are not entirely gone new challenges have presented themselves. Record high inflation, the cost of living and the green agenda are factors effecting most households, and are areas Killarney Credit Union must be cognisant of in our development and delivery of service.

This year we lent €19.5 million to our members. Loans are the heartbeat of the credit union and the money that is borrowed from the credit union is vital to the towns, villages and businesses of our common bond. As always we urge and encourage our members and their families to think about the credit union for all their borrowing needs.

Along with the growth of our loan book there has also been many other highlights to the last 12 months. More and more people switched to our current account. We are heartened to see the appetite and growth of our current account product. We are now also in a position to offer current accounts to anyone over 12 years of age. This is another huge milestone in the provision of services across all the ages and in particular our teenage and student members.

Due to demand and price increases across the construction sector, we increased our Home Improvement Loan product ceiling to €80,000. In September we introduced a very competitive Green Loan to our suite of loan products. This Green loan is one of the most competitive offerings in the market and is already gaining interest and use. We also enhanced our Community Loan product and we will be communicating these improvements in the new year.

Killarney Credit Union donated over €34,000 to various local clubs, organisations, community initiatives and schools in the last year. We take great pride in supporting local initiatives and value the support we receive in return.

Credit Unions in Ireland won the Cxi award for Customer Service for a record 8th year in a row. This accolade is an endorsement of the sentiment credit unions hold in the population as a whole.

Part of the ambition of Killarney Credit Union is to be our members first choice for all their personal financial needs. To this end we are currently preparing and finalising our strategic plan for the coming three years. We are committed to supporting the communities where we live and work and improve their financial wellbeing. Part of our plan going forward is greater responsibility to Environmental, Social and Governance issues and creating greater awareness to our commitments to diversity and inclusion. We are committed to being a protector of and a champion for our environment. The spirit of sustainability will permeate every aspect of our organisation going forward.

Of paramount importance to us is to ensure our community knows that we are open for business to everyone in our common bond. We would like to extend a warm welcome to all our new neighbours who have found refuge here from other countries. We trust you will make a happy and safe home here. Tá fáilte romhaibh go léir.

In conclusion I would like to thank all our members for your continued support, business & loyalty throughout 2022 and we look forward to continued service through 2023.

Wishing you a peaceful and Happy Christmas.

Joy Clifford-Vaughan

Chairperson, Killarney Credit Union

Click  here to download a copy of our Winter Newsletter 2022 as a PDF.

Irish Credit Unions top Customer Experience league table

Irish Credit Unions top Customer Experience league table for record setting eight years running

Credit unions have topped the league table for the best customer experience in Ireland at the official CXi awards announced today. This is a record-breaking eighth year in a row that credit unions have topped the CXi poll.

Speaking about the achievement, Mark Murphy, CEO of Killarney Credit Union said, “Once again, we see Irish credit unions top the poll for best customer experience in this year’s CXi report. This is a huge endorsement of the excellent customer experience we offer our members on a daily basis through face to face engagement in our offices, and through our online and digital offerings. In a year which has seen Ulster Bank and KBC withdraw from the Irish market, more and more consumers are realising the importance of excellent service from a financial provider with a social ethos. We put our members’ needs at the heart of everything we do, and we will always be there for them. It’s no coincidence that we’ve seen a significant increase in the number of consumers who have switched their bank accounts to our credit union since the beginning of the year. The results from the CXi report speak for themselves and it is a testament to the dedication and the hard work of staff and volunteer directors in Killarney Credit Union and in every credit union in Ireland.”

The Customer Experience Insight (CXi) Report is published annually by the CX Company based on a survey carried out on their behalf by Amárach Research. Over 28,000 experiences were evaluated using the CX Framework, including value, channel usage, how important employees are to the customer experience, and net promoter score (NPS) which measures the loyalty of customers to a company.

Speaking at the CXi report launch, Michael Killeen, Chairman of the CX Company said, ‘’Irish Credit Unions topped the CXi league table for a record eight year in a row, which is unheard of around the world. Credit unions are fully committed to brilliant and consistent CX Excellence. They treat their members like a member of their own family and, in response to members’ evolving needs, are continuing to develop new products and services including mortgages, current accounts and SME loans, as they drive CX Excellence across the whole credit union sector.”

Helping to make Home Heating Costs More Affordable

€30,000 Prize Bonanza for Killarney Credit Union Members

Mary O’Connell from Aghadoe got a great surprise this week when she received a call from Killarney Credit Union to find out she had won a brand new Suzuki Swift 1.2 Hybrid SZ-5 in the Killarney Credit Union members draw.   

Mary picked up the keys of her new car from Shane Foley & Elma Culloty of Killarney Credit Union this week accompanied by family.    

Speaking about the members draw, Karena McCarthy, Killarney Credit Union Marketing Officer stated “We currently have just over 2,400 members in the draw which is held twice a year. Our prizes include a new car and cash prizes ranging from €250 to €2,000, our next draw will take place in January 2023”. she concluded.   

Members can apply for the members draw at any of the branches or apply online on www.killarneycu.ie. €12 will be taken from the members account twice a year as an entry fee for the members draw.   

The cash prize winners were Marie Brosnan, Michael O'Sullivan, Neilie Carroll, Dan Nagle, Patricia O'Doherty, Kieran Madden, Kristina Napijalo Mulic, Robert Morris, Eileen Fleming, Gerard Coffey and Brid Ann Cronin.

Karena added “The draw is limited to members of Killarney Credit Union and anyone over the age of 18 can apply to join. “