Abbey Street, Roscommon Tel: +353 (0)90 6626657 Fax: +353 (0)90 6627565 Email: roscu@gofree.indigo.ie
FOREIGN EXCHANGE - COMMISSION FREE!!!
FOREIGN EXCHANGE - COMMISSION FREE!!!
Call in today and order your foreign currency before 12pm and we will have it ready for you to collect tomorrow. Another great incentive to become a member today.
AGM 2011
Our A.G.M. was held on Monday night December 5th 2011 at 8pm. A very positive end to a very difficult year with Tom Grealy presiding and our Auditors Russell Brennan Keane represented by Colm O'Grady, Partner on the night. Thomas Waldron, Treasurer, advised the members that we 'had come through a difficult year but one in which through prudent management we have recorded a surplus €65,493" - allowing a proposal of 1/4% dividend be offered to the members which was approved on the night. Our reserves are strong at 11% with the requirement from Central Bank of 10% being met.
Patsy Brady, Chairperson, of the Supervisory Committee assured the members that the Credit Union is being run in accordance with the highest principals of governance, transparency and accountability.
Colm O'Grady of RBK also declared that the accounts give 'a true and fair view' of the Credit Unions affairs as at 30th September 2011. He further commented on what a difficult year 2010-2011 has been for Credit Unions with Roscommon CU weathering the storm well and remaining in a strong position into the new year.
All reports were delivered to the meeting and the meeting was closed on a positive note.
SECURED LOANS...
Avail of our great low Secured Rate.....All Loans within shares attract a reduced rate of interest of 7.75%(APR 8.050%) on all amounts. With the credit union it makes more sense to borrow than to use your savings,,, the choice is yours!
Education Loans 6% (APR 6.180%), terms and conditions apply
WITH LOANS LIKE THESE, YOU'D BE OFF YOUR TROLLEY NOT TO..
Call in and see if we can help you to drive in style for 2011 or give you a better deal on your existing finances. With our very competitive standard rate of 9.00% (APR 9.42%) ' you'd be off your trolley not to'
Luke 'Ming' Flanagan
Parliamentary Question Raised by Luke ‘Ming’ Flanagan on 22nd September 2011
Deputy Luke ‘Ming’ Flanagan(Independent – Roscommon Leitrim South) asked the Minister for Finance the details of the strategy to underpin the solvency and viability of the credit union sector that was presented to the European Commission, the ECB and the IMF; the further discussions with the staff of the European Commission, the ECB and the IMF that will be necessary to clarify some aspects of the restructuring of the credit unions; and if he will make a statement on the matter.
Minister for Finance Mr Noonan : The strategy to which the Deputy refers was prepared in line with Ireland’s targets under the EU/ECB/IMF Programme of Support for Ireland and presented to the EU Authorities and the IMF on 30 May 2011. This strategy continues to be subject to further discussion with the Troika and as a result it has not been presented to Government and will, for the time being, remain a confidential document.
The Government recognises the importance of credit unions as a volunteer cooperative movement and the distinction between them and other financial institutions. The Terms of Reference for the Commission on Credit Unions is to review the future of the movement and make recommendations in relation to the most effective regulatory structure for it. This will take into account its not-for-profit mandate, its volunteer ethos and community focus, while paying due regard to the need to fully protect depositors’ savings and financial stability. The Commission will be providing me, as Minister for Finance, with its final report by the end of March 2012.
Any restructuring process will take account of the interim report of the Commission on Credit Unions. The Commission is on target to present its Interim Report me by end-September 2011. It is anticipated that this will feed into the legislation to be submitted by end-December 2011.
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