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Retirement Good Luck

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The Board, Management & Staff at Limerick & District Credit Union would like to wish both Kay & Ger the very best for the future as both have recently retired.

Both will be missed not only for their work but also for their support and friendship down through the years.

#LDCU #GoodLuck

Cash Draw Notice

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Limerick & District Credit Union would like to inform members that due to COVID-19 we have taken the decision to suspend the Cash Draw until January 2021.

We would like to apologise for any inconvenience this may cause.

#LDCU #Cash #Draw

Back to School Research 2020

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Over a quarter (27%) of Irish parents are getting into debt to cover the costs of back to school. While this figure is down from 36% in 2019, the average debt parents find themselves in has increased by €40 from €357 to €397. Of this 27% in debt, over four fifths (81%) have debts of over €200 with over a quarter of these having debts of over €500.

This is not surprising as back to school costs continue to rise for parents, with the overall spend on school items for primary school students at €1,123, up €174 from last year. In secondary schools’ parents average spend is €1,467, up €68 on last year.

The top expense this year for parents of primary school children is after school care at an average of €200 up from €117 in 2019. For second level parents the biggest expense is books at €196 down from €220 last year.  Voluntary contributions for primary schools have increased by 25% to an average of €110 per child from €88 in 2019, with secondary school contributions remaining at an average of €140.

Over two thirds (69%) of Irish parents pay for their children’s back to school supplies from their general monthly income with 20% using their credit card, up from 13% in 2019. The use of savings has grown from 27% to 34%, 6% take a credit union loan, down from 9%, with those turning to moneylenders remaining at 3%.

66% of parents say that covering the cost of back to school is a financial burden, although encouragingly this is down from 78% last year. Almost 4 in 10 (37%) consider the costs associated with back to school as their main concern in the lead up to getting their children ready to return to school, down from 50% in 2019. Interestingly, there has been an increase in parents being concerned amount managing their schedule at 33% up from 20% last year.

The findings were revealed in the annual Republic of Ireland school-costs survey commissioned by the Irish League of Credit Unions (ILCU) and carried out by i-Reach Insights in June 2020 when 948 parents of school going children were surveyed.

The results of the survey also revealed that 66% of parents shop online for school supplies, a rise of 15% from 2019, with respondents citing convenience (59%), saving money (59%) and the availability of better deals (56%) as the main reasons for doing so.

Cutting back on family holidays is still one of the biggest sacrifices that families make to cover back to school costs at 34%, with a quarter cutting back on summer camps. 64% have had to deny their children extracurricular activities with 38% cancelling school trips to help fund back to schools costs.

44% of parents say they feel pressured into buying branded clothing, footwear and other items for their children as opposed to generic or own brand goods, while more than 2 in 3 (69%) believe that schools don’t do enough to help parents keep the costs of going back to school down, an increase of 5% from 2019.​ ​

COVID-19 findings

The ILCU survey also highlighted concerns of parents brought about by the COVID-19 pandemic.
Over a fifth (22%) of Irish parents reported that there has been a reduction in their household income as a result of Covid-19. A similar number (21%) are finding the extra cost of feeding their children when home-schooling to have had the biggest effect on household finances.

When it comes to children going back to school, 59% of parents believe there will be a mix of home schooling and classroom for the new term while nearly half (49%) said that they would carefully consider the measures put in place in schools before deciding whether to send their children back to school.

42% of parents are worried about their child’s mental health for the upcoming term if children will not be returning to school in a full-time classroom setting with a further 41% concerned about their children catching up on missed teaching.  42% of parents are already concerned that their children have fallen behind in class as a result of home-schooling during the lockdown, while 23% said they would struggle with returning to work if schools don’t reopen fully.

Since the beginning of the COVID-19 lockdown, 36% of parents feel their children are spending too much time watching TV or on mobile devices (32%) as a result of being home-schooled. A third of parents (33%) also believe their children are missing their friends from school and may be lonely as a result.​

If schools do not reopen or only partially reopen, 38% of parents stated that they are lacking resources for proper home schooling. These include educational resources and materials (38%) and printing (35%). Nearly a third of respondents cited poor broadband coverage as a major concern in delivering effective home schooling.

ILCU survey shows marked increase in average debt of parents coping with Back to School costs

  • Over a quarter (27%) of Irish parents find themselves in debt in order to cover the costs of back to school for their children, with 8% having debts of over €500
  • The average debt parents find themselves in to cover the costs of back to school is €397, an increase of €40 from last year
  • Parents now spending €1,467 per secondary school child – up €68 on last year
  • At primary school level, spending has increased by €174 and now stands at €1,123 per child.
  • 69% of parents believe schools don’t do enough to keep costs down


Covid-19 related concerns

  • 42% of parents are worried that their children will fall behind in class as a result of home schooling over the past few months.
  • Over half (59%) of parents believe there will be a mix of home schooling and classroom for the new term.
  • 49% will carefully consider the measures put in place in schools before deciding whether to send their children back to school.
  • Over a third of parents said they are not equipped with sufficient resources if full or part-time home-schooling becomes the norm with 29% citing poor broadband as a major concern.

Face Masks at LDCU

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In line with public health advice we request that members wear face masks while queuing to be served by staff.

This request is for the safety and wellbeing of fellow members and staff.

Your cooperation on this matter is greatly appreciated.

#LDCU #COVID19 #YourLimerickCreditUnion

Updated Opening Hours – June 2020

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The below opening hours will come into effect on Monday June 29th 2020.

Caherdavin Office

Mon, Tue, Thu: 9.30am – 5pm
Wed: 11am – 5pm
Fri: 9.30 am – 6pm

St. Johns Office

Mon: 9.30am – 5pm
Tue, Thu: 9.30am – 5.15pm
Wed: 11am – 5:15pm
Fri: 9.30am – 5.30pm
Sat: 10am – 4pm

St. Patrick’s Office

Mon: Closed
Tue, Thu: 9.30am – 5pm
Wed: 11am – 5pm
Fri: 9.30am – 6pm
Closed for Lunch: 1pm – 2pm

#LDCU #Updated #Opening #Hours


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Keeping it Local..!

Support Local, Borrow Local, Spend Local

Our Limerick Traders were out in force again this week to welcome back the traders who were closed during the pandemic and also to thank the people of Limerick for their continued support through a difficult period. In the last few weeks, we have seen a significant lift in business, and we would ask the great people of Limerick to continue on with this trend.

It is so important to support local as all money spent locally will drive our economy, especially the LOCAL economy.

Remember: Support Local, Borrow Local, Spend Local.

Pictured outside Limerick & District Credit Union with our very own CEO Caroline Long were, Mike O Connell (Mike O Connell Menswear), Aiden Lyddy (Keanes Jewellers), Shane Gleeson (Gleesons Catherine St), Tony Jones (Recharge Catherine St), Anne Quinn (Allens William St), Donal O Connell (Mike O Connells Menswear), Paul Craughan (O Connells Butchers) & Mike Gleeson (Gleesons Spar Henry St)

#SupportLocal #BorrowLocal #SpendLocal

Managing & Safeguarding Your Account

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The ethos of Limerick & District Credit Union prioritises the economic and social well-being of all members through our vision of social justice, and wider benefit of this to the local community.

Regardless of the amount in your savings, all members should be aware of the methods of how to best manage their money, as well as how to protect and safeguard their money from financial abuse and fraud.

Download the guide to Managing & Safeguarding your Account by clicking here: Download Managing & Safeguarding your Credit Union Account

The purpose of this guide is to provide you with insight into how best to safeguard the funds in your credit union account. All persons are potentially vulnerable to financial abuse, but this is particularly the case where you are dependent on another person to do your day-to-day transactions, owing to a physical or mental incapacity as a result of an illness, a learning disability, a bereavement, or other circumstances where you need the help of another to take care of your money.

In particular, during the Covid-19 restrictions, members may be cocooning and so are not in a position to leave their home to visit the credit union. Such members may find themselves relying on another person to assist them in managing their money at this time. It may be a temporary reliance, but nonetheless, members must feel in control of their own money at all times.

If you need more time when transacting, or if you wish to discuss a matter in confidence, the staff will be happy to engage with you on the best solutions to managing your account and circumventing any challenges that may arise.

If you need help on any matter, the credit union staff will be happy to assist you. Here to help!

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