Category: Latest News

Bruff Credit Union would like to thank the budding artists, parents and teachers for all the wonderful entries we had to this years Credit Union Art Competition. The theme of this years competition is “Walk of Life”

Congratulations to all the winners.

Applying for a loan is now even easier and quicker!

Apply Online

You can apply for a loan online in a matter of minutes from your PC, tablet or smartphone. Fill in our simple form, then we’ll take it from there. In most cases, we’ll be back to you within one working day to complete your application and check your details. Click here to apply online.

Phone a Loan

We can take your full loan application by phone. Call (061) 382111. You can email your relevant documentation to loans@bruffcu.ie.

Apply In-Office

You can apply for your loan in our office, no appointment needed. You can bring your documentation with you or email it to loans@bruffcu.ie.

Bruff Credit Union are proud to support our local rugby club, Bruff Rugby Club with the sponsorship of the programme for their home matches for the 2019/2020 season.

We wish the team and management the best of luck for this season.

Pictured are Ger Hehir, Manager, Bruff Credit Union and Mike Cahill, President, Bruff Rugby Club.

Thursday 3rd October

Due to the adverse weather conditions our office is closed from 6pm- 8pm this evening.

We apologise for any inconvenience this may cause.

Our low rate Home Improvement Loan is available now, for a limited time.

Whether you want a new kitchen or to build an extension, or are thinking of making your home more energy efficient with insulation or new windows; our low rate Home Improvement Loan will help get the job done!

Our low rate of 8.62% is available now for a limited time. We lend up to €40,000.

To Apply Online Today – follow this link https://www.bruffcu.ie/promotions/

You can also apply by phone: 061 382111 or apply in-branch.

Know your loan: €20,000 over 5 years at 8.62% (8.99% APR) is €94 per week repayments. Cost of credit is €4503.

Your wedding will more than likely be the biggest, best, and in some cases, most expensive, party you will ever throw. It’s exciting, fun and all-consuming planning for what’s sure to be one of the best days of your life. Anyone who says it’s not a little stressful would be lying – especially with the ever-rising costs of venues, photographers, wedding bands and more to juggle. In fact, weddingsonline.ie found that the average couple spent €24,427 on their big day in 2017. The good news is – with some careful planning and clever saving, the financial side of your big day need not cause you any sleepless nights.

Read on to find out how to pay for your wedding and get all the beauty sleep you need!

Get listicle

Once the excitement from your engagement has died down, it’s time to get organised. Put some time aside with your partner to sit down together and start making lists. Ideally, you will want three wedding planning lists; must-haves, nice-to-haves and no-ways. And you’ll need to agree on a final version of all three lists. ‘Must-haves’ are those items you both agree are worth saving for and spending on (like your dream venue, a great photographer etc.). ‘Nice-to-haves’ are the things you can pick and choose from with the money that’s then left-over. ‘No-ways’ are those things you both agree are not important enough to prioritise, so you can write them off from the get-go and not be tempted to spend money on them half-way through the planning. Once your lists are finished, it’s time to call vendors and gather quotes.

Set Your Budget

You would be crazy to throw yourself into planning a wedding without working from a budget. When you have a number of quotes gathered, you should have some idea of what you are going to spend – but you need to agree on a final figure with your partner. If parents or relatives are contributing towards the cost, involve them in this budget decision at the outset, so everyone is clear on how much they will be spending. Once you have your budget agreed, do a little simple math. Divide your budget figure by the number of months you will be planning your wedding. Once you are clear on your budget this, should be your go-to-guide when making decisions on everything from your flowers to tips for venue staff.

Secret Fund

When you and your partner have sealed your budget with a kiss (!) then siphon off a certain amount as an emergency fund in case you go over-budget. Research by weddingsonline.ie in 2017 found that a whopping half of couples end up going over-budget!. So a fund like this will definitely come in handy for those unforeseen circumstances.

Save the (best) date

Some wedding dates are more expensive than others. Weddings around Valentine’s Day, New Year’s Eve, Christmas bank holidays etc. tend to be a lot are more costly. Why not opt for a date that is personally significant to you and your partner instead.

Commit to cutbacks

You’ll need to make cutbacks elsewhere to balance things out as you start to book vendors etc. Examine all your outgoings each month. Do you really need that gym subscription? We know everyone likes to look their best for their wedding, but getting out for a walk or a jog is just as good, with the added bonus of not costing you anything. Skip the queue at the deli counter and start bringing packed lunches to work. Aside from treating yourself here and there, cut out the regular habit of popping in for takeaway coffees. Why not even switch your electricity or gas supplier to take advantage of switcher/new customer deals.

Resist the credit card

Don’t start off on the wrong foot by paying for things with money that you don’t have. Our advice would be to resist the credit card for the vast majority of your wedding expenses. However, in certain cases, such as booking venues, you might have no choice but to use the card. Ensure however that you are paying off the balance in full and on time every month. If you fall into the trap of only paying off the minimum payment the interest charged on this alone could see you raiding your emergency fund!

Need to borrow? Use an ethical lender

If you find yourself needing to use the credit card more than you would like, then perhaps you and your partner need to consider a loan. Ideally, no couple would have to borrow for their big day, but with venue costs rising by 9% and photographers increasing in price by 8% in Ireland it’s understandable that a loan might be necessary. Indeed, weddingsonline.ie found that 17% of couples needed to borrow for their wedding day in 2017. For the most straightforward loans that don’t carry any hidden fees or admin charges, and with very competitive interest rates to boot, look no further than your local credit union. Credit unions are not-for-profit, ethical lenders and will ensure that you don’t take out a loan that is unrealistic for your financial circumstances.

Don’t fall for wedding myths

We’ve all heard it. ‘A wedding pays for itself’. Don’t be under any illusion that this is the case. If you’re dreaming of recouping the cost of the wedding through cash gifts from your guests, think again. You can’t predict how much your guests will give, or how many might not opt for alternative presents. Even if all of your guests give very generous cash gifts, it would be very unlikely that you would cover the full cost of the wedding. As with any significant life event, the best option is to save, budget, borrow prudently if needs be – and treat any additional cash you recoup as a bonus.

Talk to Bruff Credit Union today about a flexible personal loan. Call 061 382111

New research has revealed that although more than half of the population in Ireland owns a credit card, a whopping six in ten have no idea what interest rate they are paying. Even among those in the survey who said they do know what interest they were paying, the survey results proved differently.

For example, a significant 20% who said they were aware of the interest rate thought they only paid between 6% and 10%. When in reality, credit card interest in the Irish market typically ranges from 13% to 23%.

The study also revealed a worrying lack of knowledge around how credit card interest is applied. When the four in ten who said they knew what interest rate they were paying were asked about how the interest worked, there were a lot of incorrect assumptions. Just over a quarter correctly said they paid interest on the full balance from the date of the transaction to date of payment, as well as interest on the outstanding balance. 40% actually said they didn’t pay any interest!

The reality with this lack of knowledge is that people will end up paying more than they anticipate when they use their credit card, as they are not factoring in the – often hefty – interest charged. This can throw their household budget out of whack and ensure they remain in a cycle of unnecessary debt.

The best course of action is to clear the balance in full, bin the card and be done with it. However, credit cards have always been hugely popular so, for the majority this is unlikely to happen. Indeed, only 11% of credit card users in Ireland say they plan on binning the card in 2019. So at the very least, credit card users should get to grips with how their credit card works.**

Some of our tips below should prove helpful with this.

• This one is a no-brainer. Clear your balance in full and on time every month. Note, this does not mean clearing your minimum repayment, which could be significantly lower than the balance. If you only pay the minimum repayment every month, you’ll pay a lot of interest and it could take years to clear the debt. Paying your balance in full is the best, and fail-safe way, to stay out of credit card debt.
• If you can’t achieve number one every month, then ensure you pay the minimum payment in full and on time. Aim to pay off more than the minimum repayment – the maximum amount you can afford to pay.
• Never miss a credit card payment. This can be a major red flag to potential future lenders if/when you need to borrow for a mortgage, car etc. The Central Credit Register in the Republic of Ireland is a centralised system which stores information on all loans of €500 or more, including credit cards and even overdrafts. Lenders are legally obliged to consult this register when making a decision on whether to lend amounts of €2,000 and over to you. So if you know you will not have money at the end of the month to pay for a purchase you’re planning to put on your card, then don’t use the card! It’s as simple as that.
• Stay below your credit card limit as much as you can at all times. Flying to close to your full credit limit on a frequent basis can be another red flag to lenders. A good rule of thumb is to keep your purchases to 30% of your credit limit, so for example, spending just €30 a month on a card with a limit of €100.
• In order to ensure you don’t miss payments and you are staying under your limit, track your spending every month. Sign up for an online credit card account if you have not already done so, and regularly log in to keep check on your spending. There are also apps you can use if you need more reminders! Getting and staying in this habit is crucial to healthy credit card use.
• Keep a close eye on your credit card statements. Whether you receive monthly paper bills or you deal with everything online, ensure you take some time to sit down and really check your statements. Mistakes and errors can and do happen, and you need to be on top of them to protect your credit. If you spot a mistake, contact your card issuer as soon as possible. They will need to investigate the error and ensure it’s rectified. It could also be a sign of fraud, so you really need to report these discrepancies straight away.
• Request your credit report. You can ask for a copy of your credit history any time, free of charge from the Central Credit Register. Ensure you exercise this right so you are fully informed on what is on record about your credit history.

If you would like to clear your credit card, talk to us about a Debt Consolidation Loan. Our loan rate is lower than the credit card interest rate so with our loan, you will clear your credit card debt AND be paying LESS every month.

Call us today; 061 382111

*All findings references are contained in a national study commissioned by the Irish League of Credit Unions, and carried out by independent research company, i-Reach Insights, in December 2018. 1,000 adults responded to this online survey.