Frequently Asked Questions

Welcome to Our Members Frequently asked question (F.A.Q.) Section.  

We have put together a comprehensive question and answer section providing you with information on every part of the Credit Union from our opening hours to our range of services.

If your questions are not answered please contact us

Q: What is a Credit Union?
A: A Credit Union is a financial cooperative, owned and controlled by its members. It's run on a not-for-profut basis, all funds stay within the local community and all surpluses go back to the members.

Q: Who runs a Credit Union?
A: A voluntary board of directors runs the credit union, elected by the members at the Credit Union’s Annual General Meeting.

Q: What can a Credit Union do for you?
A: Your credit union can help you achieve financial independence through regular saving and offering fair, affordable services and loans.

Q: How do I join the Credit Union?

A: If you meet our membership criteria (click here for more information on this), simply call into either Credit Union branch in Northside or Artane with a current bill or bank statement (dated in the last three months) & your passport or driving licence. Click Here for more information on joining the Credit Union.

Q: How can minors join?

A: Under 16's must provide identification (Birth Certificate or Passport) & proof of address this can be a parent’s current bill/bank statement (dated in the last three months). Coolock Artane Credit Union runs a Primary School Savings Scheme with 13 of the schools in the local area. Ask your local school or Credit Union branch for more information.

Q: What if I do not have a bill/bank statement in my name?

A: Under the Criminal Justice Act 1994, all financial institutions including Credit Unions are legally obliged to verify the identity of each member this includes their home address. If you do not have a current bill/bank statement the Credit Union will accept a headed letter from a Government Department. (For example a letter from social welfare or the revenue) dated in the last three months will be accepted.

Q: What if I do not have a Passport or Driving Licence ?

A: You must get a ML 10 Form from your local Garda station; this form states that you do not hold a current passport or driving licence. You will require two passport size photos when filling out this form.

Q: Can I transfer my credit union account to Coolock Artane Credit Union Ltd?
A: Provided that you meet the membership criteria, you can transfer your savings and keep your savings history. You can also transfer your loan – subject to approval by the Credit Union’s Lending department. Once approval has been made, you can continue to pay the loan balance at Coolock Artane Credit Union Ltd

Q: What if I live elsewhere but work within the common bond area?
A: You are eligible to join if you live, work or go to school/college within Coolock, Artane or its immediate surrounding areas. If in doubt, please contact us on 01 8513400 or 8513450. .

Q: What are your Opening Hours?

A: Our opening hours are detailed below. Remember, members can conduct business in either branch or online. You should have no problem finding a time to suit your needs. Both branches are open during lunch. For more information on our online services click here.

Q: What services are available to members?

A:   We offer a wide range of services...

• Savings (Share, CUCASH Deposit, Fixed Term, Medium and Long Term Accounts & School Savings Scheme).
• Competitive Personal Loans at 8.95% (9.33 APR)
• Members’ Monthly Car Draw
• Travel & Home Insurance
• Foreign Exchange & Traveller’s Cheques
• Scholarship Scheme
• Free Loan Protection & Life Savings Insurance*
• Free Death Benefit Insurance*
•     Health Insurance Discounts (VHI, BUPA & VIVAS)

24/7 CUonline Services now available

• CUmoneycard ATM facility, access your money from your CUCash account at over 4,000 ATM’s nationwide.  
• Bill Pay Services
• Direct Debit Facilities
• E-Cheques (Electronic Cheques) – transfer your money electronically from the Credit Union to your bank account.
• Salary Deduction Scheme
• Online access to your account 24/7 www.cacu.ie

Q: What is a Share Account?
A: Every €1 saved in a Credit Union Share Account is equivalent of 1 share in the Credit Union. A minimum saving of 5 shares/ €5 is needed to keep your account open. By saving regularly you can build up a savings history. Each share is eligible for a dividend at the end of the year. The more savings held by the Credit Union, the more funds are available for loans to members. Credit Unions use the members’ shares as collateral for loans.

Q: What is a CuCash Account?

A: The CU Cash Deposit Account acts like a current account; it offers yousecurity, a competitive interest rate and instant access* to your funds. Coolock Artane Credit Union offer an excellent interest rate on theCU Cash accountof2% Per Annum* and this interest is calculated monthly and DIRT is automatically deducted by the Credit Union. (Interest rates are subject to change*) If you have a loan with savings held as security in your Share Account you cannot withdraw this money. However, with a CU Cash Account you can save and withdraw your funds as often as you wish.

Q: What are Dividends?
A: Savings are used to make loans to members. The interest received from loans and investments is used;
- To pay expenses.
- To build up reserves (capital)
The remaining income may be returned to members as a dividend. The rate of dividend varies from year to year and the dividend is applied to members’ accounts after the AGM.

Q: What is Life Savings Insurance?
A: Life Savings insurance is a life insurance cover your credit union provides free of charge to all eligible members. To be entitled for Life Savings Insurance cover you must be a member of the Credit Union before your 70th birthday and be in good health.