St Canice's Kilkenny

St. Canice's Kilkenny Credit Union has offered budget accounts to its members for more than fifteen years now.   The scheme has been very successful and the members who avail of this facility find it to be a very useful and worthwhile service.

This scheme allows members to budget in advance for known expenses which arise during the year.  Each budget account is taken out for a period of 12 months and is renewed annually.

Members decide which regular expenses they would like to have included in their budget plan (e.g. mortgage, electricity or road tax). They then estimate how much each bill will come to for the full year ahead.  Once this is decided, all of the bills are added together to get the total amount of the budget plan for the year. Then divide this total amount by 52 to get the weekly payment required or by 12 if paying monthly.  Members are advised to over budget a little in case of emergencies and increases in the costs of some household utilities.

A budget account is only available to members who have an active savings/loan account for a minimum period of three months and each member must complete a standard application form.  Also, each budget plan operates for a period of twelve months and must be renewed annually. Any money owed at renewal time must be cleared before a new plan can be agreed for the following year.

There are a number of terms and conditions attaching to this budget scheme, for further information, please ask any staff member.