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Insurance
The credit union offers a variety of insurance cover to their members, to ensure that their finances are covered. The differect types of insurance cover offered by Omagh Credit Union are listed below:
Death Benefit
Life Savings
Loan Protection
Direct Debits/Standing Orders
Omagh Credit Union offers a Direct Debit facility to its member plus a Standing Order facility. This allows you to have monies transferred from your bank account directly to your credit union loan or savings account. The payment can be transferred on a weekly or monthly basis whichever suits you best. For Standing Orders, you can get your Sort Code and personal Account number where you can pay via your banking App or online.(this is the recommended choice as you are in control of the monies sent to your CU account). You can contact the office to receive a statement showing your account information at any stage plus you can view the last few transaction on this website after registering. This means you no longer have to worry if it is convenient for you to call to the office in person.
Easy Shares Accounts
Omagh Credit Union now offers its members an additional savings facility known as Easy Shares Account.
This account is in addition to a member's share and loan activity with members being able to save for specific purposes such as regular bills. Loans are not granted on the Easy Share Accounts with the member having immediate access to monies as it is not pledged against a loan. It is very simple to set up an Easy Share Account- no forms to complete - just request to open the account with staff at the counter. Maximum amount allowed in an Easy Share Account is £5000 from the 1st June 2024.
The idea behind this savings account is to make available the opportunity for members to set aside funds for a specific purpose. This gives the member the choice of saving for annual holidays, Christmas, annual bills such as household rates, university or college fees - the list is endless.
Money deposited in Easy Shares Accounts attracts annual dividend and may be covered by Life Insurance at no charge to the member. Money can be withdrawn by the member on demand making the Easy Shares Account an exceptional addition facility for all members.
Loans are not granted on Easy Shares with the member having immediate access to their monies. These savings will not be taken into account when considering an application for a loan. However, the credit union shall have a lien on these shares for any outstanding debt due to Omagh Credit Union and may offset any sum credited to Easy Shares towards the payment of that debt.
Further information on Easy Shares Accounts can be had from credit union staff who will be only too glad to answer any questions.
Pay Utility Bills
Members now have the facility to pay their bills for electricity, household rates, telephone, T.V. licence, mobile top-up etc. in the credit uion office. Documents should have a barcode. This service to members is processed through PayPoint.
CUFLOW Account
What is a CUFlow account?
Your CUFlow account is an enhanced new addition to the services being offered by Omagh Credit Union Ltd. Your CUFlow account is an additional account and will facilitate electronic payments to and from your credit union accounts.
How will it work?
Your CUFlow account is automatically set up for you and each account has a sort code and account number for this account.
CUFlow will be used for Direct Debits, Standing Orders and Electronic Payments.
What else?
Dividend will not be paid on a CUFlow account as it is separate from your share account. Your CUFlow account does not qualify for insurance cover.
You can view any activity on your CUFlow account using the online access facility on our website. If you do not already have access you can register at www.omaghcreditunion.co.uk
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