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26 May 2022

Unity Credit Union's MYCU Current Account and MYCU Debit Mastercard are here!

New services for members as study shows high level of public trust in credit unions

Unity Credit Unions MYCU Current Account and MYCU Debit Mastercard are here!

Tom and Dan Morrissey, Limerick and Ahane GAA, pictured launching Unity Credit Union's MYCU Current Account and Debit Mastercard service

Unity Credit Union Limited are among 16 credit unions across the country offering the MYCU Debit Card and Current Account. The MYCU debit card is part of the Mastercard network and is now available to members.

To mark the occasion, electronic payments company CUSOP commissioned a survey of 1000 people which highlights the high level of trust among the public in the credit union movement, showing: 

● 65% of the general public trust credit unions more than their local bank - that figure rises to 86% among credit union members

● 71% of people would use a credit union for a debit card or current account if they didn’t already have one

● 75% of credit union members would like to be able to speak to someone directly in branch if needed

Photo: Tom Morrissey Limerick and Ahane GAA, Laura O’Dea BDO at Unity Credit Union, Dan Morrissey Limerick and Ahane GAA

Photo: Tom Morrissey Limerick and Ahane GAA, Laura O’Dea BDO at Unity Credit Union, Dan Morrissey Limerick and Ahane GAA

The study also examined the impact of the pandemic on our saving, spending and financial planning habits and discovered: 

● Nationally, the average amount of money saved in the past 18 months was €4219

● Regionally, the average amount saved was highest in Dublin at €5223

● Leinster was in second place with €4537, followed by Munster with €3872 and the average saved in Ulster/Connacht was the lowest at €2973

● 6% of credit union members have saved more than €20k in the last 18 months - that drops to 4% of the wider population

● Asked to choose from a range of options of what to do with the money, such as spending on a holiday, helping friends or buying a car, 42% would opt to keep their savings

Pat Owens, CEO at Unity Credit Union Limited, commented: “We were delighted to see the results of the research which reinforced the message we hear on the ground, that there’s a really high level of trust among the public in what we’re doing in credit unions around the country and we’re so proud to be part of that and of this new scheme for the future of the movement”.

To find out more about Unity Credit Union's MYCU Debit Card and Current Account, visit www.unitycreditunion.ie/mycu

Photo: Tom and Dan Morrissey Limerick and Ahane GAA

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