Other Services

OTHER SERVICES

 

FREE MAKE A ‘WILL’ SERVICE

For all members of Roscommon Credit Union Ltd, we have joined alliances with the following Solicitor Firms to make A Will for FREE

*    Brid Miller                    090 6627777

*    Mahon Sweeney           090 6626102

*    Patrick J. Neilan           090 6626245

*    Donal Keigher              090 6477707

*    Maria McCahill             090 6626816

*    Liddy Neilan                 090 6627498

*    Dockery Solicitors         071 9635350

*    O’Grady & O’Neill Solicitors         071 9633260

 

Insurance

Insurance – Roscommon Credit Union – Looking after your insurance needs…

10% discount on

  • Home Insurance
  • Motor Insurance
  • Travel Insurance

For all your insurance needs:

Always shop around…

Aviva and Vhi Health Insurance give 10% discount to Credit Union members.

Also call for your Home Insurance, Motor Insurance and Travel Insurance

CU Safe  www.cusafe.ie or 1850 287 233

 

Budgeting Tool

Please click on this link for access to a Budgeting planner.

 

Paypoint

Call in and pay your householdbills, top up your mobile phone or purchase ESB tokens, we are delighted to have launched this new service for our members.

 

Foreign Exchange

We are now offering commission free Foreign Exchange services through FEXCO, please come in and order before 12pm so that we can have your currency ready for you next day.

 

MABS Money Advice & Budgeting Service

In 1988 the Department of Social Welfare commissioned a report by the Combat Poverty Agency entitled “Money lending and Low Income Families”. One of the recommendations of this report was the establishment of a Money Advice Service to assist over-indebted families.

The basic aim of the service is to help people encountering debt problems to manage their money and gain access to affordable credit which is available in their local Credit Union.

What is MABS?

Money Advice & Budgeting Service is a free and confidential service. The aim is to get individuals out of debt and back in control of their own finances. They offer assurance and support, a speedy response, information and advice. They can also negotiate with creditors. Everything is done with the agreement of the individual involved.

Remember…this service is totally confidential!!!

Contact your local office at Abbey Street, Roscommon

Tel: 090 6627811, Fax: 090 6627565
Email: roscommon@mabs.ie
www.mabs.ie

 

Irish League of Credit Unions Launch Results of April 2014 ‘What’s Left’ Tracker

Disposable Income

Essential Bills / Saving

  • For all adults, disposable income has increased by €13 since April 2013
  • For working adults, disposable income has increased by €20 since April 2013
  • Fall in the number of people who say their disposable has decreased – 54% in April 2014 from 65% in April 2013
  • Jump in 3rd level education costs by €67 per month from December 2013 to €355 per month
  • Significant increase in school related costs (primary / secondary) by €86 per month from December 2013 to €138 per month
  • Increase in cost of extra-curricular school activities by €15 to €86 per month since December 2013
  • More people in a position to save compared to this time last year (44% in April 2014 v 39% in April 2013)
  • The average amount saved is €177, up from €170 in April 2013 and an increase from €175 in December 2013

Charity Donations

  • 62% of adults donate to charity in Ireland giving €25 per month on average
  • Irish donors show strong preference for supporting Irish charities (53%) as opposed to international charities (7%)
  • Donating cash through street donations or charity boxes is most popular (56%), direct debit is second most popular (28%) followed by credit card (5%)
  • The recent financial scandals in the charity sector has caused 9 in 10 to rethink where they donate with 20% saying they have stopped donating to charity completely

Cost of Motoring in Ireland

  • 34% of motorists are struggling with the cost of motoring in Ireland, fall from 45% in 2012
  • 21% have switched their car to a smaller, cheaper model with 32% intending to do so
  • 26% find car insurance incredibly expensive and can’t afford it
  • 6 in 10 motorists have switched insurance provider in the past 12 months
  • 28% view public transport as an inconvenient way of commuting, up from 21% in 2012

The Irish League of Credit Unions (ILCU) has today published the first ‘What’s Left’ tracker ‘of 2014. The research, which has been running since the beginning of 2011, is now in its fourth year. Since its inception in 2011, the tracker has followed how ordinary people around the country have been impacted by austerity and recession and recorded the huge impact the shift in the economy has had on family finances and the day to day struggle to make ends meet. In 2013, the tracker began to look in more depth at family finances – what is coming into a household versus what is being paid out. This continues in the 2014 research.

Speaking about the April 2014 tracker results, Kieron Brennan, CEO, ILCU said: “Over the past 12 months we have begun to see the first signs of possible economic recovery. Since April 2013, the tracker has shown disposable income increasing slightly with each round of research. This is certainly good news and should the results continue like this throughout 2014 it is quite possible that we will see a strengthening in consumer confidence which will impact on savings and spending levels. Those struggling to pay their bills on time every month are becoming savvier and are shopping around for the best deals or switching providers in an effort to keep costs down. The cost of motoring, in particular the cost of fuel, is still a big concern for Irish motorists. Many fear that any further increase in price of fuel will result in them having to give up their car. Many also find the cost of car insurance prohibitive and the high levels of switching behaviour in this market indicate a dissatisfaction with insurance pricing structures.”

April 2014 ‘What’s Left’ Tracker Findings

Disposable Income

The research results for the first round of the tracker in 2014 again indicates that there are continued signs of stabilisation in disposable income. The improving trend shows us that there has been a drop in the number of people who say their disposable income has decreased over the past year (54% in April 2014 v 65% in April 2013).

  • 1.696 million people have €100 or less left at the end of the month once all the bills are paid, an increase of 32,000 on the December 2013 figure of 1.664 million.
  • 1.154 million have €50 or less left at the end of the month once all the bills are paid, this represents an increase of 56,000 on the December 2013 figure of 1. 098 million.
  • 470,000 have nothing left at the end of the month a drop of 10,000 since December 2013.

These figures would indicate that more people are moving out of the lower disposable income categories and into the higher categories, indicating a gradual recovery in family finances.

Disposable Income – All Adults

Disposable income across the population has decreased by €6 (€182 to €176) since December 2013.

Disposable Income – Working Adults

For working adults, disposable income has also decreased by €9 (from €217 to €208) since December 2013

Net Monthly Income and Expenditure

Average net income for a household in Ireland is €2,710 per month, up from €2,707 in December 2013. In terms of disposable income, an average family household is left with €327 at the end of a typical month, a slight decrease from €367 in December 2013. This may be due to the overall increased costs per household and may take account the impact of expenses like the property tax.

Essential Bills

38% or nearly 4 in 10 put off paying their essential bill on time each month. This represents an increase from 32% in December 2013. Of this group the majority (99%) have to sacrifice spending in other areas to pay their bills – of essential items health insurance (36%) and spend on food (29%) are most sacrificed. Of non-essential items – nights out (77%), holidays (75%) and clothing and footwear (67%), are the most sacrificed items.

A number of changes have taken place in the monthly bill categories in the period between December 2013 and April 2014:

  • Household (incl. rent or mortgage) and utility bills overall increased from an average of €740 in December 2013 to €764 monthly April 2014. (both mortgage and rent payments in this category have increased from December 2013)
  • Electricity in particular has seen the biggest increase since December 2013 (€82) – now at €91 per month.
  • Gas (up €6 euro to €79) and Oil (up €8 to €83) since December 2013. However, these increases can be aligned to the colder weather in the early months of this year.
  • Credit card payments, health insurance payments, car insurance payments, home and life insurance payments and grocery payments per month are all down. (see graph below)
  • Increase in loan repayments – €238 in December 2013, now €241 in April 2014.

There have been significant movements in the child / education category:

  • Increase in 3rd level education costs by €67 – now at €355 per month.
  • Extra-curricular activities for children, up €15 – now at €86 per month
  • School related costs jump €86 – now €138 per month – this may be due to the Communion / Confirmation season.

In other categories –

  • UPC / Sky & other satellite TV prices have increased by €4 to €49 per month on average
  • Music downloads up €8 to €25 per month and DVD rentals up €7 to €23 per month on average.

Household / Utilities:

12/2013 | 8/2013 | 4/2013

MONTHLY HOUSEHOLD SPEND (Those who pay)

3/14 | 12/13 | 8/13 | 4/13

Mortgage (49% | 50% | 48% | 51% pay) €848 | €806 | €817 | €846
2. Rent (28% | 29% | 31% | 26% pay) €526 | €525 | €458 | €464
3. Electricity (98% | 98% | 99% | 98% pay) €91 | €82 | €84 | €90
4. Gas (51% | 52% | 50% | 50% pay) €79 | €73 | €66 | €79
5. Oil (41% | 37% | 40% | 41% pay) €83 | €75 | €88 | €92
6. Bin charges (78% | 77% | 79% | 78% pay) €24 | €24 | €26 | €23
7. Other heating (37% | 33% | 30% | 32% pay) €49 | €53 | €49 | €60

 

Telecoms / Home Entertainment:

12/2013 | 8/2013 | 4/2013

MONTHLY HOUSEHOLD SPEND (Those who pay)

3/14 | 12/13 | 8/13 | 4/13

1. Mobile phone (98% | 97% | 97% | 97% pay) €36 | €34 | €36 | €34
2. UPC/Sky/Sat. TV (67% | 67% | 69% | 69% pay) €49 | €45 | €44 | €44
3. Internet (80% | 77% | 77% | 77% pay) €30 | €29 | €25 | €27
4. Landline (59% | 58% | 58% | 57% pay) €35 | €37 | €33| €37
5. Music Downloads (22% | 21% | 20% | 17% pay) €25 | €17 | €32 | €20
6. DVD Rentals (13% | 15% | 14% | 15% pay) €23| €16 | €15 | €9

 

Loans / Insurance / Pension:

3/14 / 12/2013 | 8/2013 | 4/2013

MONTHLY HOUSEHOLD SPEND (Those who pay)

3/14 | 12/13 | 8/13 | 4/13

1. Credit Card Payments (60% | 61% | 61% | 60% pay) €263 | €282 | €268 | €296
2. Health Insurance (55% | 51% | 51% | 54% pay) €148 | €168 | €137 | €144
3. Loan Repayments (40% | 34% | 41% | 42% pay) €241 | €238 | €262 | €250
4. Pension Contribution (38% | 41% | 37% | 40% pay) €175 | €163 | €168 | €172
5. Car Insurance (87% | 87% | 84% | 85% pay) €52 | €54 | €62 | €54
6. Home Insurance (73% | 72% | 70% | 71% pay) €44 | €47 | €47 | €48
7. Life Insurance (52% | 53% | 50% | 52% pay) €57 | €58 | €59 | €64
8. Pet Insurance (8% | 6% | 8% | 10% pay) €50 | €36 | €37 | €17

 

Groceries / Food / Going Out:

3/14 /12/2013 | 8/2013 | 4/2013

MONTHLY HOUSEHOLD SPEND (Those who pay)

3/14 | 12/13 | 8/13 | 4/13

1. Groceries (98% | 98% | 98% | 98% pay) €331 | €355 | €338 | €337
2. Take-Away / Eat out (75% | 78% | 72% | 74% pay) €61 | €60 | €51 | €54
3. Nights Out (53% | 53% | 51% | 52% pay) €71 | €74 | €72 | €63
4. Lunch at work/school (57% | 57% | 57% | 54% pay) €59 | €61 | €54 | €56
5. Alcohol at Home (57% | 69% | 68% | 68% pay) €59 | €44 | €38 | €39

 

Child Related Expenses:

12/2013 | 8/2013 | 4/2013

MONTHLY HOUSEHOLD SPEND (Those who pay)

3/14 | 12/13 | 8/13 | 4/13

1. 3rdlevel education (14% | 15% | 15% | 14% pay) €355 | €288 | €249 | €250
2. Childcare (14% | 11% | 10% | 11% pay) €289 | €349 | €285 | €399
3. Extra-curricular act. (30% | 30% | 31% | 31% pay) €86 | €71 | €61 | €69
4. School related costs (28% | 28% | 31% | 27% pay) €138 | €52 | €87 | €101
5. Kids Pocket money (25% | 24% | 25% | 25% pay) €53 | €55 | €71 | €52

 

Transport Expenses:

12/2013 | 8/2013 | 4/2013

MONTHLY HOUSEHOLD SPEND (Those who pay)

3/14 | 12/13 | 8/13 | 4/13

1. Petrol / Diesel (88% | 88% | 87% | 88% pay) €151 | €141| €144 | €155
2. Car tax (87% | 86% | 85% | 86% pay) €60 | €64| €68 | €61
3. Public transport (36% | 39% | 35% | 34% pay) €53 | €57| €46 | €48

Saving

44% of adults are now likely to be able to save money each month, this represents an 13% increase since a year ago when the figure was 39%. The average amount of money being saved is estimated to be €177, up from €175 in December 2013 and up from €170 this time last year.

Saving Each Month: 3/11 6/11 9/11 12/11 3/12 6/12 9/12 12/12 4/13 8/13 12/13 3/14
<€50 n/a 19% 14% 12% 13% 14% 9% 20% 23% 16% 21% 19%
€51-€100 n/a 15% 13% 18% 18% 16% 19% 14% 15% 16% 18% 19%
9%€101-€150 n/a 10% 10% 14% 14% 9% 11% 12% 14% 13% 10% 9%
€151-€200 n/a 9% 11% 11% 9% 16% 18% 14% 12% 11% 12% 14%
€201-€250 n/a 8% 11% 9% 9% 6% 7% 10% 7% 10% 11% 6%
€251-€300 n/a 7% 6% 9% 7% 11% 8% 6% 5% 6% 3% 5%
€301+ n/a 32% 35% 27% 30% 27% 29% 24% 24% 28% 25% 28%
Average: n/a €195 €210 €192 €197 €195 €200 €180 €170 €187 €175 €177

Charity Donations

  • 62% of adults in this country donate to charity. €25 is the average amount donated per month and €300 per year. Donors have a stronger preference to support Irish charities (53%) as opposed to international ones (7%).
  • Donating cash through street collections or charity box in a shop is the most popular (56%). Direct debit is second most popular method for 28% of donors. 5% donate using their credit cards.
  • Just over half of donors (54%) have been giving less to charity due to the recession. It is estimated that the amount donated has fallen by an average of 39% during the recession.
  • Recent financial scandals in the charity sector have had a damaging impact on the confidence of Irish donors. Almost 9 in 10 have had to rethink where they donate with 2 in 10 have stopped donating altogether.
Payment Methods for Donations: 4/13
Cash 56%
Direct Debit 28%
Credit Card 5%
Cheque 4%
Money Transfer 3%
Other (varies, payroll mobile text) 4%

 

Damaging Impact of Recent Charity Scandals 4/13
Yes, it made me rethink where I donate: 87%
No, it didn’t have impact on me: 13%
Yes, it has made me stop from donating to charity: 20%
No, it has not made me stop from donating to charity: 80%

Cost of Motoring in Ireland

  • 34% of motorists are struggling with the costs of motoring, a fall from 45% in 2012.
  • More motorists (35%, up from 29% in 2012) are able to keep their cars, however 78% of this group will be unable to cope financially if the price of fuel increases. 8% will have to sell their car because they can no longer afford the cost of tax and insurance.
  • 85% of motorists have taken measures to cut down on car related expenses down from 90% in 2012. Over half (54%) drive less to save on petrol. Switching providers (insurance and garage) is also more popular than two years ago.
  • 21% of motorists have changed their car to a smaller, cheaper to run model and a further 32% intend to change their car. There has been a fall in the number of people paying their car insurance on time 91% in April 2014 down from 94% in April 2012. 6 in 10 adults have delayed servicing their car as they can’t afford it.
  • 80% of Irish motorists do not plan on buying a new car in 2014 – 41% say they can’t afford to replace their existing car, 14% view a car purchase as an unnecessary expense and 2% say they will not get access to credit to pay for a new car.
  • One in four motorists find car insurance expensive and cannot afford to pay it. A further 53% feel there is good value in the insurance market but still struggle to make their insurance payments.
  • There is strong switching behaviour in this sector with 6 in 10 motorists switching car insurance in the past 12 months in an effort to reduce motor related costs. However, there is an in indication with this set of results that consumer confidence in this particular sector is still fragile.
Cutting Down Car Related Costs: 3/14 3/12
I have cut down on mileage 54% 64%
I switched car insurance company 42% 40%
I switched to a cheaper garage for servicing 29% 23%
I use public transport 17% 12%
I gave up my rescue cover 10% 13%
I have started car pooling 7% 5%
I have got rid of one car 6% 8%
Other (Cycle, switched to diesel, shop around for petrol) 8% 6%
None of These 15% 10%

 

Perceived Value of Car Insurance: 3/14
Incredibly expensive, I cannot afford to pay it 26%
There is good value in the market but still struggle with payments 53%
Car insurance is fairly priced and is very good value for money – I have no problem paying it 21%

 

Using Public Transport will help me cut down costs: 3/14 3/12
Public transport will help cut down on my motoring expenses 17% 17%
Yes, but public transport options where I live are poor 33% 47%
No, it will cost me just as much 22% 15%
No, it will be more hassle for me 28% 21%

ENDS

FOR FURTHER INFORMATION, PLEASE CONTACT EMMA CASEY, COMMUNICATIONS DEPARTMENT 01 614 67 81 / 087 6881571