Credit Union’s investment in IT

Sligo Credit Union has undergone a major IT system upgrade which will see enhanced online services for customers – and reduce queuing times in Stephen Street.

The Credit Union has invested €100,000 in the new system to modernise services and come closer to a full web financial service to all members.

The new IT platform will make it easier to transfer funds and make bill payments and will see the upgrading of a dedicated Sligo Credit Union app, which will be available to all Apple and Android users.

It will also speed up and simplify the online loan application. Members will be able to apply for loans online and upload and sign any necessary documents without having to visit the branch — they can then receive the funds directly to their accounts.

The Credit Union’s more than 20,000 members can also register for text alerts of transactions on their accounts providing more security. Plans are also underway to introduce a debit card facility for members in 2019.

CEO of Sligo Credit Union Barry O’Flynn says: “In a way, much of the work we are doing will be invisible to our members, but it is a major piece of work that will ensure that our online systems will be more accessible, easier-to-use and faster for all our customers. The new loan application process will save time and effort for our members.

“There is also the knock-on advantage that this will have on the queues at our premises on Stephen Street. We know that customers have to endure long queues at the branch and we have been doing our best to alleviate that – in fact, that is one of the reasons we are moving premises next year.

“The new system will not only decrease the need to visit the branch but also speed up the length of time members spend with our staff,” says Barry.

Sligo Credit Union has more than 20,000 members, manages assets in excess of €75 million and lends approximately €1.5 million to the local economy each month.

It recently announced that it had purchased the Clarence Hotel in Sligo on behalf of its members.

Plans are underway to renovate the building with the aim of moving all Sligo Credit Union operations there in 2019.