24 October 2023
Donnybrook Branch Closure FAQ's
Donnybrook Branch Closure 28th December 2023
Frequently Asked Questions
Why is South Dublin Credit Union closing the Donnybrook branch?
- For some considerable time there has been a noticeable and continuing deterioration in the number of members visiting the Donnybrook branch, frequently less than 10 per day. At this level of service demand continued operation is clearly uneconomic and non-viable.
- It is also evident that the majority of members linked to the Donnybrook common-bond area choose to use either secure access to information and services via the website or the SDCU App. These members do not appear to have any difficulty with using the Stillorgan branch for personal access and have the benefit of ample adjacent free parking.
Were any steps taken to avoid having to close the Donnybrook branch?
- A credit union facility has been in located in Donnybrook for many years. In 2017 an agreement was made to merge the credit unions of Donnybrook and Stillorgan to form the present South Dublin Credit Union. It was the clear intention at the outset that as much service provision as possible should be maintained in the Donnybrook branch while recognising that, in the absence of a merger with a larger credit union, the operational viability of Donnybrook CU was questionable and closure a distinct possibility. Faced with a declining active membership, growing acceptance of on-line and mobile access to services, and the impact of Covid-19, various attempts were made to reduce costs and establish viability through reductions in opening hours and staffing levels. To date these measures have had limited impact.
Do I need to register with, or transfer to, the Stillorgan branch if my Donnybrook branch is closing?
- No. All member records for SDCU are centralised and access to services is presently provided to all members at either branch and does not depend on the where the member first joined. Remember that you can also contact our member services by telephone on (01) 2884877 or register for secure on-line access to your account and benefit from 24/7 availability.
Does the closure of the Donnybrook branch mean that the credit union is in difficulty?
- No. South Dublin Credit Union is proud of its continuing reputation as a well-governed, trustworthy, secure, stable and financially sound credit union which members may confidently use to meet their saving or borrowing requirements. The decision to close the Donnybrook branch was taken in the best interest of the membership to further reinforce the financial security of our credit union and to provide additional financial flexibility to promote developmental opportunities.
Does the closure of the Donnybrook branch mean that the credit union cannot give out loans?
- In the current 2022/2023 financial year the credit union has provided almost €7 million in new loans to members and, whether you want to borrow €100 or €100,000, the credit union is in a position to provide favourable funding. The closure of the Donnybrook branch will, if anything, strengthen, rather than limit, the ability of the credit union to lend.
What is being done to reduce the impact on service to members in the areas affected by the closure?
- Inevitably, closure of the Donnybrook branch will cause inconvenience for some members who may prefer to use an in-branch, personal service. Such a friendly service is always available in our Stillorgan branch, located less than 5km away, to deal with any problems you may have. Alternatively, members can contact us by phone at (01) 2884877 or by email at email@example.com. Similarly, members can make payments to the credit union either by phone or on-line. Loans may also be drawn down remotely using digital signatures via DocuSign. Use of our mobile App or website provides a convenient and secure way to simply access credit union facilities 24/7.
Are my savings safe?
- Your credit union remains strong and financially secure with almost €10 million in its reserve fund. Keeping your savings safe is our main priority. As an additional safeguard, all savings are protected under the terms of the government's €100,000 Deposit Guarantee Scheme.
Are you committed to face-to-face service?
- Yes. The to provision of a friendly, personal service is a core objective of the credit union movement. While many members may choose to use our digital services, we believe that all members value the option of, however infrequently, meeting directly with a member of staff in our Stillorgan branch. We are committed to maintaining this personal service provision and encourage members to borrow from us to enable us to continue to respond to your needs as a valued member of South Dublin Credit Union.