Welcome to our October Newsletter

Welcome to our October newsletter! We hope you had a great summer. As we step into autumn, we have got some updates for our members – including recent car draw winners, volunteer opportunities, an increased shares cap, sponsorship & more.

Soon You Can Save More With CANA

We are excited to share some great news with our members! The Board of Directors has approved an increase to our savings cap, offering greater flexibility for our members:

• The shares limit will increase from €30,000 to €50,000 per member.
• The total savings limit will remain at €70,000 per member.

If your current shares balance exceeds €50,000, the excess will be transferred to a deposit account within your membership profile.

Please note, at this time, deposit accounts will not earn interest or dividends, but the Board will monitor this and keep members updated on any changes.

If you have any questions about this increase, do not hesitate to reach out to our team!

📞 Call us at (01) 6766151  📧 Email info@canacu.ie

Munster Area Golf 2024

CANA Credit Union was proud to sponsor the prizes for the ‘Munster Taxes’ 2024 Golf Tournament, providing One4All vouchers to the winners. We are always excited to support events and the Revenue staff community.

If you are looking for sponsorship for a specific event or cause, feel free to send us an email with more details.

Looking to Make a Difference?

CANA Credit Union is seeking individuals to join us as Board Members or Liaison Officers! This is your chance to make a real impact by helping shape the financial well-being of our members and supporting the Revenue staff community.

Why Volunteer?

• Drive positive change
• Develop valuable skills
• Expand your professional network

Interested? Contact us today or visit our website to learn more:

CANA Monthly Car Draw

Car Loans From CANA

Whether you are thinking of buying a brand-new car, switching to an electric alternative or looking for a reliable second-hand vehicle, our affordable car loan at 5.9% (6.1% APR) has got you covered.

Loan benefits:

• No hidden fees or charges
• Full ownership of the car from day one
• No balloon payments
• The flexibility to pay off your loan early without penalties

Make your car purchase smooth and straightforward with CANA Credit Union.

Terms & Conditions apply.

All figures are for illustrative purposes only

WARNING: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

Credit Union Car Loan vs PCP

When choosing how to finance your next car, a Credit Union car loan offers several benefits over a Personal Contract Plan (PCP). A PCP can sometimes have a lower monthly cost but you are often tied down to specific terms.

• Full Ownership: With a Credit Union car loan, you own the car outright from day one. PCPs often require a final payment to purchase the car at the end of the term and you cannot sell the car at any time.

• No Mileage Limits: Unlike PCPs, there are no restrictions on how much you can drive with a Credit Union loan and you do not need to adhere to specific locations for servicing or maintenance.
• No Balloon Payments: Avoid large final payments with a Credit Union loan; your monthly payments are consistent throughout the term. A PCP is broken into three parts;

1. Deposit, usually 20-30% of the car value
2. Fixed monthly repayments, usually low as a large portion of the cost of the car is not paid until the end of the agreement, and
3. The Guaranteed Minimum Future Value a large final balloon payment, which can be anything up to 50% of the value of the car.

• Flexible Repayment: Credit Union loans offer the flexibility to pay off your loan early without penalties.

With these advantages, a Credit Union car loan could be the smart choice for your next vehicle purchase. See the full comparison by clicking the button below.

Have You Tried the Loan Calculator?

Did you know that you can get an estimation of a loan in a matter of seconds by using the loan calculator on our website?

Simply put in the amount you are looking to borrow and the loan term to get an estimate of the payments, total cost of the loan and interest payments.