CARA Credit Unions and Killarney Credit Union are introducing a new full-service Current Account today (Thursday) which is International Credit Union Day.

The new Current Account includes the globally accepted Mastercard Debit Card with Contactless Payments, Standing Orders, Direct Debits, and the option of an Overdraft facility.

Members of Cara Credit Unions can open a Current Account online or in their local Credit Union offices.  This is good news for Credit Union members and for consumers in general who have limited choice at present. Credit Unions are seen to offer something different to the major banks in terms of their personal touch and are considered trustworthy.

The new Current Account has simple and transparent pricing. A low monthly fee of €4.00 applies and that covers unlimited euro point of sale and contactless transactions, unlimited mobile and online banking and unlimited standing orders and direct debit processing and up to five euro ATM withdrawals per month. Full details of fees and charges are available on Killarney Credit Union and Cara Credit Unions Websites.

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Speaking at the launch, Pa Laide, CEO of Cara Credit Union said: “This is a watershed moment in the credit unions history. It means credit union members with savings and loans will now be able to get a competitive Current Account from their trusted Credit Union, and they will no longer need to go to a bank to get this service. For the first time, we will be able to provide our members with a real choice for their day-to-day financial needs. And this service, which will be accessible globally and digitally, will enable us to become even more relevant to our members in the ever-increasing digital world.

Speaking to Mark Murphy, CEO of Killarney Credit Union “credit unions have been voted the ‘most trusted financial institution’ for many years, and just recently they became the first in the world to receive the coveted the national ‘CX Award for Best Customer Experience in Ireland’ for a record-breaking five years in a row. This trusted position is one we want to build on with this new service launch. We envisage many members switching their day to day banking to the Credit Union because we are now a community owned viable alternative”.

• Information on the new Current Account are available from Killarney Credit Union in Killarney, Kenmare and Cahersiveen and Cara Credit Union in Tralee, Castleisland and Killorglin and on their websites.