Page 43 - Kildare CU 2022 AR

MEMBERSHIP COMMITTEE REPORT
The role of the membership committee has evolved to the oversight and implementation of the credit union’s membership policy from the consideration and approval of membership applications which is now primarily conducted by Membership Officers in our three offices. The committee submits a membership report to the Board of Directors each month.
In the financial year, 561 accounts were approved for membership of which 195 were for minors, 361 for adult members and 5 club accounts were opened. Membership at the 30th of September 2022 was 15,685 members. Membership is voluntary and open to people who live or work in our common bond area. All membership applications must be accompanied by photographic identification (proof of date of birth and a recent photo); evidence of address dated within the last three months and sight of PPS number to comply with Revenue legislation.
Kildare Credit Union provides Loan Protection Insurance Cover and Life Savings Insurance Cover free of charge to eligible members. Cover provided by Loan Protection Insurance means that any outstanding loan balance will be repaid in full on the death of an eligible member. This year, 16 loans to the value of €145,000 were repaid under this policy. The benefit of Life Savings Insurance is to cover up to €12,700 of a member’s savings in the event of their death. In the financial year 2022, 46 Life Savings claims were paid under this policy totalling €148,116.
We would like to thank our members for their co-operation in providing photographic identification and address verification to meet our regulatory obligations under the Criminal Justice Act 2010-2021. We have many inactive accounts where members have not transacted on their accounts for a period of three years or more. We sincerely thank the 474 members who reactivated their accounts this year and we intend to continue writing out to inactive members in the coming year to encourage them to reawaken their accounts.
We would ask existing members who have changed address, marital status and/or telephone numbers to notify us so our records can be updated. This also applies to clubs and associations when new officers are elected at annual general meetings.
We would ask parents to continue to encourage their children to save regularly, a habit they will easily acquire and are not likely to forget.
Should you have any queries regarding membership of the credit union please call into any of our offices and our staff will be happy to help.
Committee Members:
Paul Loughman, Michelle Kemmy and Veronica O’Toole
For the year ended 30 September 2022
Page 41