General faqs Archives - Link Credit Union Ltd

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Does Link Credit Union offer online banking?

Does Link Credit Union offer a Welcome Loan rate?

Yes, Link Credit Union have a Welcome Loan with a rate of 7.9% Variable (8.23% APR) for new members and any member who has not had a loan balance with us for the last three years.

What is a Current Account?

Current Account, from your trusted Credit Union is a full service account that allows you to access a range of facilities, such as receiving your salary, paying bills, setting up direct debits and standing orders to make regular payments. You can operate your account online and using the mobile app.

With Current Account, from your Credit Union, you get a dedicated IBAN (International Bank Account Number). You can apply for a Mastercard® Debit Card with Contactless payments which allows you instant access to your money so you can make a payment or withdraw money whenever or wherever you need. You can also apply for an overdraft facility with a debit interest rate of 12%.

Who can apply for a Current Account?

All members over 13 years of age are eligible to apply for a current account.

If you are 13-15 years of age, you must call into one of our offices, with a parent/guardian to sign a parental consent form. You can download this form here. The Parent must bring Proof of ID and Proof of Address along with you.

All single account members over the age of 16 may apply online through our banking portal. Joint account members, 13-15 year-old members and non-members can refer below for alternative options to open their Current Account.

Do Link Credit Union offer online banking?

Link Credit Union now offer a full suite of online banking facilities for our members. You can perform electronic funds transfer, view and print online CU statements, apply for and drawdown a loan, update your personal information, message us via a secure server, set up Standing orders and much more! We also have a fully functional mobile app called CuMobile with cutting edge technology making everything accessible to you from the comfort of your own home.

How do you apply/register for online banking?

Yes, Link Credit Union offer a full suite of online facilities through online banking & our mobile app CuMobile. Please click here to register.

Please note, if you are 16-17 years of age, you will only have the facility to view your account.

What do I need to do when registering?

You will need to set up a username.

A username should be easy to remember but not something which is directly linked to you or your account.

Your username should include at least 1 letter and 1 number. Your username should also be at least 6 characters long and not include spaces. Your username is case sensitive.

PINs will be issued to you via text message. You only need to use your PIN the first time you login. Thereafter in compliance with PSD2 regulations a One Time Password will be issued to you or you can use facial recognition or Touch ID to access your data securely.

A password must be created when registering and will be required when you use the online services.

If you have forgotten your login details, please click on the forgot password link here

What can I do with online banking?

  • Check account balances and transactions.
  • Print / View Full Online Statements.
  • Apply and drawdown your loan.
  • Set Up Standing Orders.
  • Bill Pay.
  • Electronically transfer funds internally and externally.
  • Secure messaging to Link Credit Union.
  • Update your personal information.
  • Secure sign-in – Three tiered login – for additional levels of access and security.
  • 8 digit PIN and Password – as per industry best practice guidelines (upgrade from 4 digit pin).
  • Firewall protection – to stop unauthorised access and protect the information on your systems.
  • Time-out facility – which automatically signs you out after a period of inactivity (to continue banking online, simply sign in again).
  • Secure Messaging – all account specific member communication is sent through a secure channel in CU Online.
  • PINs issued by SMS.

Does Link Credit Union offer online banking?

Link Credit Union now offer a full suite of online banking facilities for our members. You can perform electronic funds transfer, view and print online CU statements, apply and drawdown your loan, update your personal information, message us via a secure server, set up standing orders and much more! We also have a fully functional mobile app called CuMobile with cutting edge technology making everything accessible to you from the comfort of your own home.

Can I withdraw my savings at any time?

You may withdraw your savings on demand as long as they are not pledged against a loan with Link Credit Union. There are a number of options available to you i.e. Cheque, Cash (there is a limit on cash withdrawals – currently €2000 in any one week) & Electronic Funds Transfers (EFT).
Please note: The minimum shareholding of Link Credit Union Ltd. is €10. Members must maintain a balance of at least €10 in their share account to maintain membership of Link Credit Union Ltd. If a share balance should fall below this level, membership of Link Credit Union Ltd. will cease and the account will be closed.

What return can I expect on my savings?

A dividend may be declared at our AGM every year. This is dependent on the financial result of the Credit Union and subject to regulatory approval.

Can children join?

Yes, Link Credit Union encourages savings among young members. Children aged 13 and over can apply for membership themselves (parent/guardian’s Photo ID & Proof of address will also be required), children 12 years and under accounts are opened and operated by a parent or guardian, until they reach 13 years. We also run School Savings Club with participating Primary schools inside our common bond.

Who can join Link Credit Union?

Anyone who resides or is employed in the Link Credit Union common bond (a defined area around the communities of Kingscourt, Bailieborough, Moynalty and Mullagh). (click here to see our common bond area).

What term is an overdraft for?

Overdrafts are normally sanctioned for a period of 12 months. If you use your account within the overdraft limit, and set criteria, then we may automatically renew it when the term comes to an end.

How much can I borrow?

You can apply for an overdraft, the amount will be based on the mandated income or lodgment amount being mandated to the credit union.

How do I apply for an overdraft?

You can apply for an overdraft online or at your Credit Union office. We will normally request you to provide payslips and bank statements for the last three months in support of your overdraft application.

Who can apply for an overdraft?

Credit Union members over 18 years of age can apply for an overdraft. To avail of this facility, you will need to have or open a Current Account.

What is a personal overdraft?

An overdraft is a short-term way to borrow on your Current Account and can help in months where things get a little tight e.g. if you receive a higher-than-expected bill and need a bit longer to pay. Once your overdraft is sanctioned, the money is available to you through your Current Account.

Will I be advised what fees I am charged?

Yes. Account fees are calculated quarterly for quarters ending 31st March, 30th June, 30th September and 31st December. A fee notification will issue along with your quarterly statement, prior to fees being charged to your account. Fees are charged to members accounts on the 28th of April, July, October and December or where the 28th is not a business day, the next business day.

Full details of all applicable Fees & Charges are available in your CU office and on the website here.

What fees apply to the Current Account?

As you would expect from your Credit Union, Current Account has simple and transparent pricing. A low monthly fee of €4 applies and that covers unlimited Euro point of sale and contactless transactions, unlimited mobile and online banking and unlimited standing orders and direct debit processing and up to five Euro ATM withdrawals per month. Full details of fees and charges are available here.

Can I use my card for shopping online?

Yes. You can shop at participating websites using your card. Mastercard® SecureCode is a free service that provides cardholders with additional security and peace of mind when shopping online. During the checkout process when shopping online, you may be asked to register for the Mastercard® SecureCode service here.

Can I get cashback using my card?

Yes. You can obtain cashback up to €100 when making purchases at participating retailers.

You can also withdraw up to a maximum of €700 per day at ATMs located through the country and abroad. (Withdrawal limits at ATMs vary).

Can I use my card aboard?

You can use your card anywhere in the world where the Mastercard® Acceptance Mark is displayed. Foreign exchange fees and charges apply where the transaction is performed outside the Eurozone.

Can I change my card PIN?

Yes. You can change your card PIN to something more memorable at most ATM machines. You just need to have your card available, enter your existing card PIN and follow the instructions.

What happens if my debit card is damaged?

You can order a new card by calling Credit Union Card Services on +353 (1) 6933333 (Our Customer Services line is open 24 hours a day, 7 days a week. Calls are charged at your standard network rate. Calls from mobiles may be higher).

We will cancel your existing card and a new card will be issued to you within 7-10 working days.

How can I request a refund on my debit card?

Members will have 120 days to dispute a transaction on their Debit Card for the following reasons:

  1. Duplicated transaction.
  2. Goods not received.
  3. Cancelled subscription not actioned.
  4. Received goods not as described.
  5. Refund not processed after 30 days.
  6. Transaction not recognised.
  7. Free Trials.
  8. Car Rentals.

If you have identified a transaction that you are suspicious of on your Debit Card, you must contact your Credit Union or Credit Union Card Services team immediately on +353 (1) 6933333.

A disputed transaction request initiates a ‘chargeback’ which alerts a request to the merchant to reverse the transaction on a Debit Card.

Members must complete and return a ‘Disputed Transaction’ form with;

  • Detailed cover letter advising the nature of the dispute.
  • Proof of purchase.
  • Evidence of the transaction.
  • Copies of Interactions with the company (emails/letters).

To be returned to the Credit Union to complete a chargeback.

What do I do if my card is lost or stolen?

Call +353 (1) 6933333 immediately. We will then cancel your card immediately and a new card and PIN will be issued to you at your request or if you call the Credit Union you have the option during the introduction, for your call to be diverted to our card services team. The Credit Union staff in the offices cannot unblock your card for you.

How many PIN tries do I have using my card at an ATM or to make a purchase?

If you accidentally block your PIN at a point-of-sale terminal, you can simply go to an ATM and unblock your PIN.

If you accidentally block your PIN at an ATM please contact our Current Account Card Services Team on +353 (1) 6933333 or if you call the Credit Union you have the option during the introduction for your call to be diverted to our card services team. The Credit Union staff in the offices, cannot unblock your card for you.

How many debit cards can I have on my Account?

For each sole account you open will have one card. For a joint account, each account holder can have one card in their own name.

How will I get my statements?

You will automatically receive an eStatement for free on your Current Account for the quarterly periods:

  • January to March.
  • April to June.
  • July to September.
  • October to December.

You will need to be registered for our online services to access these statements. If you have opted to receive quarterly paper statements, a charge of €2.50 will apply, each quarter.

You also have the option to request a paper statement for your current account more frequently for a fee of €2.50 per statement.

How to change your home address for your Current Account?

To change your home address, you will need to provide us with proof of your new address by, uploading an acceptable document* using our secure online banking platforms via document upload, posting in an original document with a signed request to update your address or by calling into your Credit Union office with an original document.

Acceptable Proof of Address*:

  • Bank/Credit Card statement (paper/e-format).
  • Household Utility Bill (paper/e-format).
  • Revenue Commissioners current balancing statement or Notification of Determination of Tax Credit/Tax Notification.
  • Letter from any Government Department.

*Note: These documents must have been issued in the previous three months.

Will I be able to view my account online?

Yes, once you are registered online you can:

  • View your balance & account transactions.
  • Transfer electronic funds internally and externally.
  • Manage Standing Orders & Direct Debits.
  • Download eStatements and recent transaction reports.
  • Apply for and drawdown a loan.
  • You will also be able to carry out all these services using the CuMobile app.

How do I register for online banking

Credit Union members can register for our online services with us on our website www.linkcu.ie or our mobile app CuMobile.

Website – When you register online, and your application has been approved you will receive a Personal Identification Number (PIN) via SMS. You only need to use this PIN the first time you login and you will then be able to apply for your Current Account online.

Online users can also download the CuMobile app for free through your play store (https://play.google.com/store/apps/details?id=com.wellingtonit.cumobile&hl=en_US_ or app store https://apps.apple.com/ie/app/cumobile/id1518071446

How do I start using my account?

Once your Current Account is opened you will receive a welcome letter from your Credit Union detailing your BIC and IBAN. You will need your IBAN to arrange to have your salary, benefits or other payments paid into your account and to set up payment of bills by direct debit etc.

If you are registered for online access your Current Account is immediately available to view and use online or on the mobile app. If you are not already registered for online access, you can sign up today here.

Can I open a joint Current Account?

A joint account can be opened but not online. Both parties to the account must call into one of our offices with their proof of identity and proof of address to sign the application form.

What documentation do I need to open a Current Account?

To open your Current Account either online or in your Credit Union office, you will require one proof of identity and one proof of address.

Acceptable Proof of Identity*:

    • Current valid signed passport/passport card.
    • National EU Identity Card.
    • Driving Licence – Full licence or learners permit.

    *Public Services Card cannot be accepted.

    Acceptable Proof of Address*:

    • Bank, building society or credit card statement*. (paper/e-format)
    • Household utility bill* (paper/ e format).
    • Revenue Commissioners current balancing statement or Notification of Determination of Tax Credit/Tax Notification*.
    • Letter from any Government Dept.*

    *Note: These documents must have been issued in the previous six months.

    How do I open a Current Account?

    If you are registered online with your Credit Union and are over 18 years of age, you can open a Current Account in your sole name online. Simply click here.and we’ll help you to open your Current Account.

    If you are 16-17 years of age, you can apply online but a parent/guardian must call into any of our offices to sign a parental consent form.  You can download this form here You must bring Proof of ID and Proof of Address along with you.

    Both parties will need to come into one of our offices to open a Join Account.

    You can also apply for our Current Account through the CuMobile app.

    Is my loan insured?

    Yes, for eligible members your loan is covered by our Loan Protection insurance at no extra cost to you, up to 85 years of age and subject to a health declaration (T&C apply). See the Loan Protection Insurance page for more information.

    What can I borrow for?

    Practically anything – Holidays, Car Purchases, Home Improvement & Extensions, Education Loans, Weddings, medical expenses.  Anything that you need financial assistance with we can help. There are loan repayment limits on specific loan types – e.g. Car Insurance loans must be repaid within 12 months.

    When do the credit committee meet?

    The majority of Loans are assessed by our Central Lending Unit on a daily basis in order to provide a more efficient service for our members.

    How much will my repayments be?

    We have a loan calculator on the home page of our website www.linkcu.ie. Here you can enter an amount and term and it will calculate your loan repayments instantly.

    What happens if I cannot make a payment?

    If you are having difficulty meeting your loan repayments, please come and talk to us and we can help you with a financial plan.

    Can I get another loan if I already have an existing one?

    Yes, you can request a top up on your loan. You will need to fill in another loan application to start this process and provide the required documents with the application form. Or you can have two separate loans; this could happen if you avail of a promotional loan rate when it becomes available and it will be kept separate from any existing loans you have that are on a different interest rate. This will mean that you will have 2 separate loan repayments.

    Can I repay my loan early and without a penalty?

    You can choose to pay above the agreed repayment amount or make lump sum repayments with a view to clearing your loan quicker. There are no early repayment penalties or fees. In fact, because our loan interest rates are based on your reducing loan balance any extra / early loan repayments will reduce the original amount of interest you will pay.

    When is my first payment due?

    Your first payment is due depending on the repayment frequency chosen e.g. weekly will be one week after your loan is drawn down, monthly will be one month from the date the loan is drawn down.

    Can I apply online?

    Yes, you can apply online once you are registered for online banking.  This is an easy process which can be done anytime. To register for online banking go to www.linkcu.ie. or download our mobile app CuMobile.

     

    How much do I need to have in my savings account to apply for a loan?

    You can open an account and apply for your loan on the same day. You may be required to save for up to 4 weeks before your loan is approved.

    What documentation is required for a loan application?

    You will need:

    • Up to date photographic ID and address verification.
    • Evidence of PPS number.
    • 3 months consecutive bank statements dated within the last 3 months.
    • 2 most recent payslips or social welfare payment slips.
    • If self-employed, a copy of your most recent set of accounts accompanied with tax clearance certificate or a copy of revenue  commissioners income tax assessment (self-employed) with tax clearance certificate. Additional information might be requested.

    How long will it take to process my loan application?

    Once all the documentation has been submitted, loan decisions are normally made within 2 working days.

    How much will an overdraft cost?

    An overdraft facility fee of €25 per annum or per overdraft sanction, whichever is the more frequent, applies.

    How long do I have to be a member to apply for a loan?

    You can open an account and apply for your loan on the same day. You may be required to save for up to 4 weeks before your loan is approved.

    What are the interest rates on a loan?

    The standard interest rate is 10.5% (11.06%APR).    If you have savings equivalent to the value of your loan application, you can use these savings as security against a loan and qualify for a reduced interest rate of 6.9% (7.14%APR).  Our student loan rate is 7.9% (8.23% APR). We offer promotional rates from time to time so keep an eye on our social media pages and our website for details of these.

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    Whether you have a query regarding a Loan, Current Account, our Online Banking Services or something else entirely, we are always ready to help answer your questions.