Frequently Asked Questions
Here you can see a list of our most Frequently Asked Questions organised by category. If your question is not listed, please feel free to submit a question via our contact form, pop us a mail at firstname.lastname@example.org or call us on: 0818 222 919.
You can apply to borrow as much or as little as you need. The maximum unsecured loan Affinity Credit Union will lend to a single borrower is €75,000 and the minimum amount is €100. All loan decisions are based upon affordability, taking into account your income and expenditure, and your credit history.
Once you have the minimum €10 balance in your shares, you can apply for a loan. When the loan is being assessed, the loans officer may ask you to lodge additional funds into your shares account to be held as collateral against the loan. As a guideline, this may be between 2-5% of the loan amount requested.
Yes, there is no need to wait until your existing loan is completed. Our top-up facility allows members to apply for a new loan while having an existing loan balance.
This varies depending on the loan amount requested and the purpose of the loan. With all loan applications, we will ask for proof of your income. This would usually be in the form of payslips, proof of social welfare income (copy of post office receipt or bank statements showing lodgements) or proof of self-employed income. Bank statements and other supporting documentation may also be requested. Details can be found on the individual loan pages.
Our centralised lending department is optimised for quick loan decisions. Loans are approved daily. Once we have received all required supporting documentation, we will process your application as quick as possible. The sooner we receive your documentation, the quicker we can approve your loan application!
Yes. You can apply for a loan once your account is open. There is no waiting period.
Yes! You can apply here on our website, or on our handy mobile app, in a matter of minutes. Supporting documentation can also be securely uploaded or e-mailed in to email@example.com.
Once approved, we will send the documents online to be signed with a digital signature. Once the documents have been signed, funds will be issued to your specified bank account. Funds should reach your bank account within one working day. To note: certain loan types and account types are not eligible for digital signature, the loan officer will advise you if this is the case and organise a time to visit the office to sign the documentation.
Repayment by Direct Debit is the default method for all loan applications. This will be organised at loan approval and Direct Debit documents will be issued with the Credit Agreement for signature. Repayment by Standing Order, online by Debit Card, or in Branch with cash or debit card may also be facilitated in some circumstances.
No. There is no fee or penalty for repaying a loan early or for making lump sum repayments in addition to your regular repayments. In fact, since the interest is charged only on the outstanding balance, you will pay even less if you repay your loan in advance.
Members can fill out the form here to register for online banking. A member of staff will contact you on the telephone number provided to verify your identity and complete the registration process. Once all details have been verified, a PIN can be sent securely via SMS or by post.
You can fill out the form here, and a member of staff will contact you to verify your identity and re-issue a PIN.
Click on the LOGIN button from the Online Banking menu to access your account. You will be asked for your member number, your date of birth and 3 digits out of your PIN to login to the member area. Within the member area, where it says Online Banking, click on LAUNCH NOW. You will be asked for 3 digits out of your PIN again to access your account.
SCA stands for Strong Customer Authentication. It is one of the regulations under the Revised Payment Service Directive (PSD2). It states that a customer must verify their identity before payment information can be exchanged between a financial institution. SCA will be triggered at certain event types, such as when downloading a statement.
SCA codes are automatically sent to the Affinity Credit Union Mobile App. If you do not yet have the Mobile App downloaded, when prompted, click where it says “Click here if you do not want to install the mobile app or do not have a smart device”. You will then get the option to download the Mobile App or receive a text with the SCA code.
Visit the help section to view a list of potential problems and solutions.
Yes. Using the PIN you were issued by Affinity Credit Union, login to Online Banking. Within Online Banking, click on Personal Settings (top right corner). You will have the option on this page to change your PIN.
On this page, you can also update your Communication Preferences.
Our simple and secure Online Banking allows you to access and manage your credit union account 24/7. Visit our Online Banking page to see all that you could do with online access.
Yes. Both tenants on a joint account can be issued with separate PINs for online access. For the second named tenant on a joint account, the letter ‘j’ should be used at the end of the member number when logging in.
To note, online access may be restricted if the joint account requires both parties to sign for withdrawals.
No. Online access is restricted to adult accounts only.
Our Mobile App is available to all members who have registered for Online Access. If you do not yet have a PIN for online access, click here to register.
If you already have a PIN for online access, you will use the same PIN on the Mobile App.
Our simple and secure Mobile App allows you to access and manage your credit union account on-the-go. Visit our Mobile App page to see all that you could do with online access.
I want to send funds from my credit union account to a bank account; can I do that on the Mobile App?
If the external bank account is already set up as a payee from your account, then, yes! Simply click on Transfer to Other Accounts and choose this bank account from the ‘To Account’ drop-down.
If you want to double check the details of a payee, Click on PAYEES from the main menu.
If you don’t see the bank account in the list of External Account within the payees section, you will need to set up this bank account as a payee first. This can be done through Online Banking – login here.
On the Mobile App, you can view transactions for the last 90 days. If you wish to view transactions older than this, or if you wish to download a statement, this can be done through Online Banking – login here.
No, unfortunately this facility is not yet available on the Mobile App. However, you can make a debit card payment/lodgement into your account through Online Banking – login here.
Yes, this can be done through Online Banking – login here. Within Online Banking, click on Personal Settings (top right corner). You will have the option on this page to change your PIN.
On this page, you can also update your Communication Preferences.
You can call our dedicated online support team on 0818 222 919 (press 5 for online support).
If you are experiencing difficulty outside of office hours and can’t reach us by phone, try these:
• The issue may be temporary. Try waiting 15 minutes and try again.
• Is your phone connected to the internet? Try restarting your phone.
• Is the Affinity Credit Union app down due to scheduled maintenance? Check if there is a scheduled maintenance message on the Online Banking Login page here.
• Are you using the most up-to-date version of the app? Check the Play Store or App Store for available updates.
If none of these work, send an e-mail to firstname.lastname@example.org with details of the issue and a contact number and we will call you back as soon as we can.
Certainly! We would welcome any development suggestions for areas where you think improvement is needed. Please e-mail your suggestion to email@example.com
If you live, work or study within the common bond areas of Affinity Credit Union, you are eligible to join. Persons who are in the same household as someone who is already a member of Affinity Credit Union will also be eligible for membership.
One of the requirements of a credit union is that members have something in common with one another, this is known as a ‘common bond’. Affinity Credit Union operates on a community common bond basis, i.e. those living or working in the same areas may join. The common bond ensures that the savings of members of the community are available to fellow members as loans. The common bond defines the area in which a credit union can operate.
We accept membership applications online for the following account types:
- If you are 16 years of age or older and wish to open your own single account – click here
- If you wish to open a minor account (7-15 years of age) – click here
- If you wish to open an account for a minor (under 7 years of age) – click here (Please note: it is only the parent or legal guardian that can open an account for a minor under 7.)
- If you wish to open a joint account – click here
If you cannot provide all the documentation required, as stated on the membership page, please contact the credit union on 0818 222 919 or send an e-mail to firstname.lastname@example.org.
Yes! Once your membership is activated, you can apply for a loan.
Yes. Affinity Credit Union is a financially strong and stable credit union and member’s savings continue to be guaranteed by the Government Deposit Guarantee Scheme.
We can accept lodgements up to €2,000 per member per calendar month. The maximum amount that a member (individually or in association with another member) may hold in Affinity Credit Union Limited is €30,000.
There are a number of ways to make a lodgement into you savings account.
- A SEPA payment – using the IBAN for your Affinity Credit Union account, you can make a SEPA transfer from your bank. (Please note: Affinity Credit Union is registered for SEPA payments only. Affinity Credit Union is unable to accept SWIFT payments. You may incur charges if you attempt to send money to your account in Affinity Credit Union via SWIFT.)
- A Direct Debit – if you wish to save regularly, we can set up a Direct Debit from your bank account to your Credit Union. This can be set up in branch, or e-mail us at email@example.com
- Online Debit Card payment – with online access, through Online Banking and on the Mobile App, you can make a debit card payment into your credit union account. Login here or register here.
- Telephone Debit Card payment – we can accept a Debit Card payment securely over the phone during officer hours.
- In branch – with cash or debit card. See opening hours here.
There are no hidden fees or charges on savings accounts with Affinity Credit Union.
There will be a fee of €5 incurred if a direct debit is returned unpaid, i.e. there was insufficient funds to meet this payment. This is a fee the bank charges the Credit Union, and we must pass that fee on. We alert all members to this when first setting up a Direct Debit. If a Direct Debit is returned unpaid 3 times, we will cancel this so the member does no incur any further fees.
When you become a member of Affinity Credit Union, you’re opening a shares account. This is your main savings account, but you also have a share in the ownership of Affinity Credit Union. This is why account holders are referred to as members and not customers. Along with having a say in the operation of Affinity Credit Union you also earn dividends.
There is no interest earned on savings with the Credit Union, however, every share you hold with Affinity Credit Union Limited for the year is eligible for a dividend. A dividend is the return on your shares and it is paid by your credit union out of surplus.* The dividend will be agreed at the Annual General Meeting.
The amount of your dividend will depend on:
- The amount of shares you have saved (one share is equal to €1)
- The surplus income available for distribution by your credit union to members.*Past performance is not a reliable guide to future returns.
Yes. Your Shares account is your main savings account, however you can open sub accounts, e.g. Savings 1 or Savings 2 to save separately. These sub accounts are handy if you have a loan with us, as the funds in your Shares account will be held as collateral against the loan, but you can continue to save into a sub account and have access to these funds anytime.
Affinity Credit Union operates a free-to-member Life Savings Insurance scheme. A summary document explaining what this is and what is covered can be downloaded here.
Once the Credit Union is officially notified of a member’s death, an insurance claim will be submitted, if applicable. Any additional funds due form the Life Savings Insurance claim will be added to the member’s savings and Affinity Credit Union will then disburse the deceased member’s funds to the member’s nominee.
Credit unions have a nomination facility whereby if you are over 16 years of age, you can nominate someone to receive the property of your credit union accounts upon your death. This is of benefit if the member dies without leaving a will as the property left in the credit union will not have to pass through the sometimes timely intestacy process.
For more information, visit our Nomination page here.
We would encourage every member to make a nomination on their account and review it regularly.
Contact the credit union on 0818 222 919 if you would like to review the nomination on your account, or call into any of our offices to amend or update. Opening hours can be found here.
A Credit Union is a financial services co-operative. They encourage financial inclusion and promote financial well-being to members of their communities by offering fair access to savings and low-cost loans. Credit Union’s differ from banks, in that they exist only to serve members – not to profit from their need.
As not-for-profit financial institutions, Credit Unions are the ethical choice. Members savings and income generated are used to fund loans to other credit-worthy members within the community for productive purposes. The Credit Unions also promote social, cultural and education activities in the local community by providing financial assistance to local groups and clubs where possible.
We have offices in Ballymahon, Co. Longford, Cashel, Co. Tipperary, Limerick City and Monaleen, Co. Limerick. Affinity Credit Union can offer our services to people living, working or studying within these areas.
Visit our membership page for eligibility requirements and to apply for membership. View the Membership FAQs section for more info.
As well as contributing to the financial well-being of our members through savings and loans, Affinity Credit Union also supports a huge range of community organisations and events.
We aim to make our community a better place by supporting good causes that seek our help. These range from local charities, schools, sport clubs, youth groups and tidy towns. This is all part of our not-for-profit ethos. We return money to our members by supporting the causes that are important to them.
We understand from time to time, members may find themselves in financial difficulty. If you are having difficulty making repayments on your loan, please get in touch and one of our credit control team would be happy to talk you through the options available to you.
If you don’t or can’t repay your loan per the original loan agreement this will affect your credit rating. We are legally required to submit information on our loans to the Central Credit Register (CCR) each month. Arrears on your loan will affect your future ability to access credit from the credit union and other financial institutions.
The credit union recommends that you make contact with us at the earliest possible stage to advise us of any changes in your circumstances or any temporary difficulties you might be experiencing. The credit union is flexible and is willing to work with you to help you through a difficult period.
Our preference is to work closely with members in difficulty to resolve arrears. Where the credit union cannot make contact with a member whose loan is in arrears or where the member will not work with us, the credit union will use our resources to recover the funds lent.
We are always happy to hear that our members are getting back on their feet. Please feel free to call us on 0818 222 919 (press 4 for Credit Control team) to discuss your options. We can help you find the best way forward for you. This may include restructuring the loan to reduce the weekly or monthly repayments to a level that you can afford.
I’m paying my loan back but there are arrears on my loan because I missed some payments. How do I clear these?
The simplest way of clearing down the arrears on your loan is to pay a little bit more every week. Contact our Credit Control Team, on 0818 222 919, who will agree a repayment plan with you to reduce your arrears each week.
I was experiencing financial difficulity and haven’t paid my loan in a few months. If I return to repaying my loan will I be able to borrow from the credit union again in the future?
Yes, absolutely. There is no reason why you can’t return to borrowing in the future if you can demonstrate that you have the ability to repay your loan. The first step you must take is to repair your credit rating with the credit union.