Ballypheane credit union cuts

Merlin7

I would like to know, as a long time member of ballypheane credit union,
If other members are aware that they have cut the death benefit by over 2000 and might cut it completely at a later date. I and other family members have only heard this recently. It was passed at Agm I was told. I along with othe rs I know are upset and angry that they have imposed these cuts that were a comfort and form of security to all the members. What is the point in being a member anymore when they have sold us out and are the same as banks now. Anyone have opinion's.

kub

Is that the Credit Union who took over the Kinsale Credit Union and also for some silly reason decided to open a Credit Union office on The South Mall?

I am not a member but from an outsiders view, they seem quite arrogant, most especially opening an office on possibly the most expensive street in the city that is not in a residential area.

Merlin7

kub wrote: »

Is that the Credit Union who took over the Kinsale Credit Union and also for some silly reason decided to open a Credit Union office on The South Mall?

I am not a member but from an outsiders view, they seem quite arrogant, most especially opening an office on possibly the most expensive street in the city that is not in a residential area.

Hi
Thank you for your response. Yes that is the credit union that has amalgamated with south parish and kinsale. I find it interesting that as an non member you thought it arrogant to rent a premises in the south mall.
That was first thing I thought especially after they made the death benefit cuts and I think there is other
Sneaky cuts going on too. When I asked why they were cutting the death benefit so severely the reponse was some exuse about lack of investments. But how then can they afford a permises in the south mall and as you point out it is not a residential area. For 60yrs the ballypheane credit union was owned by the members and for the members.
It was a great service to the community and place to turn for finacial help in time of need. I fear these days over.
Merlin7

kub

Do you know many people there in your own community who are fellow members of the credit union?
It is one thing you going alone to them to voice your concerns but if there is a lot of members with the same concerns then surely they would have to sit up and take notice.
Perhaps social media as in facebook or something like that will get the ball rolling for you, there is also the Financial Ombudsman of course.

There is also this section of boards.ie that deals with financial advice etc, it might not be any harm to put up a post in there and ask them for their thoughts. Here it is : http://www.boards.ie/vbulletin/forumdisplay.php?f=544

KCAccidental

A member myself with the rest of my family for years. As far as I'm concerned it's not a community asset anymore. Nothing but a wannabe high street bank.

overmantle

Very sad to hear that. I always heard it was one of the most successful Credit Unions.

Merlin7

Kub
Thank you so much for help and links I appreciate very much. I will definitely follow them up.
Merlin7

overmantle

overmantle wrote: »

Very sad to hear that. I always heard it was one of the most successful Credit Unions.

It still is of course.
Half of Ballyphehane has loans out from them so it's still fullfilling it's primary purpose.

The South Mall premises is a stone's throw from the South Parish which is of course a residential area. Also the membership is open to "You are eligible to join us if you live or work within our common bond, as outlined on our common bond map. Membership is also open to family members of existing members."
http://www.fscu.ie/cuweb/wp-content/uploads/First-South-Common-Bond.jpg

They'll cover the rent no problem, the rent etc is no secret of course.

The death benefits cut isn't popular of course but all was discussed at the AGM no doubt.

sozbox

I just called them and was told it hasn't been reduced. Odd!

kub

Augeo wrote: »

It still is of course.
Half of Ballyphehane has loans out from them so it's still fullfilling it's primary purpose.

The South Mall premises is a stone's throw from the South Parish which is of course a residential area. Also the membership is open to "You are eligible to join us if you live or work within our common bond, as outlined on our common bond map. Membership is also open to family members of existing members."
http://www.fscu.ie/cuweb/wp-content/uploads/First-South-Common-Bond.jpg

They'll cover the rent no problem, the rent etc is no secret of course.

The death benefits cut isn't popular of course but all was discussed at the AGM no doubt.

Yes the South Mall is only a stones throw away from South Parish but i have to wonder what the difference is in the rent and rates from an office on The South Mall ( The Commercial Main Street of Cork ) rather than the traditional South Parish? ( A traditional residential area with a community )

Sorry but i feel it is quite arrogant and perhaps some folk on that board think it is a high street bank.

Merlin7

Hi
That is odd. They have a piece on the annual brochure 2016
Detailing the cuts and the reasons why. Certainly sounds like they have or will be shortly
Introducing these cuts. Have a look at the brochure and see what you think.
Merlin7

Merlin7

Merlin7 wrote: »

Hi
That is odd. They have a piece on the annual brochure 2016
Detailing the cuts and the reasons why. Certainly sounds like they have or will be shortly
Introducing these cuts. Have a look at the brochure and see what you think.
Merlin7

could you not take a pic and upload it, or detail the reasons why for us etc etc

razorblunt

Great Credit Union, no issues with them.

Did you or anyone go to the AGM and voice your concerns at this proposal?

Merlin7

Yes. I am not going to try and defend myself here. It is quite obvious what is going on.
I wanted to inform other members that these cuts are or will be introduced and how they felt about it. Lots of vulnerable elderly members possible would not be able to attend AGM. These cuts will effect them the most and that would be my main concern.

Merlin7

Yes. I am not going to try and defend myself here. It is quite obvious what is going on.
I wanted to inform other members that these cuts are or will be introduced and how they felt about it. Lots of vulnerable elderly members possible would not be able to attend AGM. These cuts will effect them the most and that would be my main concern.

Merlin7

Yes. I am not going to try and defend myself here. It is quite obvious what is going on.
I wanted to inform other members that these cuts are or will be introduced and how they felt about it. Lots of vulnerable elderly members possible would not be able to attend AGM. These cuts will effect them the most and that would be my main concern.

sozbox

Merlin7 wrote: »

Yes. I am not going to try and defend myself here. It is quite obvious what is going on.
I wanted to inform other members that these cuts are or will be introduced and how they felt about it. Lots of vulnerable elderly members possible would not be able to attend AGM. These cuts will effect them the most and that would be my main concern.

I told them when I called that I would close my acc if it was true based on the same reason.

I couldn't make the AGM, can you post up the note?

Merlin7

Thank you for that. I don't have it at the moment but they still have the brochure on the counters. It is only a small enough piece around the centre of booklet. In the meantime I try to get one myself.

razorblunt

Merlin7 wrote: »

Yes. I am not going to try and defend myself here. It is quite obvious what is going on.
I wanted to inform other members that these cuts are or will be introduced and how they felt about it. Lots of vulnerable elderly members possible would not be able to attend AGM. These cuts will effect them the most and that would be my main concern.

I didn't ask you to defend yourself, I was asking a simple question.
From seeing multiple CU AGMs over the years, Ballyphehane are leap years ahead of them.

I'm not saying they're right to do this, this is the first I heard of it.

FWIW it's the older generation who attend the AGM in greater numbers than any others too.