An Cosantóir

28 ANSAC Credit Union which has been available to members of PDFORRA and their families for over a quarter of a century, share they have received a volume of calls from members addressing a drop in household income since the pandemic reached our island. "As you'd expect we've had calls from a number of members where their partners have had wage cuts, experienced temporary layoffs, job loss or disruption to their own business." Says Gillian Dunne, ANSAC CEO. "And by and large, despite the anxieties they're facing, it's been really commendable how pragmatic this group are being in relation to their financial obligations." The Credit Union's key message to this group is to take control as much as possible and follow these 5 key action points. • React early & be mindful of your credit score • Do an adjusted income & expenditure statement – MABS has a good self-help tool for this. • Act to reduce expenditure • Contact your credit provider to find a workable solution • Avoid high cost debt offered by moneylenders • Review your new circumstances and offer an altered repayment schedule. • Help set you up on their EZ BillPay Service. This is a bill payment service which assists with budgeting. • Help you determine if their new Debt Consolidation Loan would help save you money. Launched on July 1ST in response to the Covid-19 crisis, ANSAC report that the new loan offering has had a strong uptake to date. Since the launch of its new Debt Consolidation Loan, ANSAC says it's fielded many calls from members uncertain as to whether it's a good option for them or not. "We welcome these calls." says Gillian, "and our experienced loan officers can certainly walk you through it." "At the end of the day, it comes down to whether or not you'll end up paying less interest overall by rolling several of your existing loans into one single one with us. We do however warn people to resist the temptation if possible, of having lower monthly repayments but a longer loan term, as usually they'll end up paying more in the long run." How ANSAC can specifically help ANSAC provides the following illustrative example: When to Consolidate? ANSAC CU TALK COVID-19 AND YOUR CREDIT CREDIT UNION HOW TO CONTACT ANSAC: Should you wish to discuss your existing loans or consider taking out a Debt Consolidation Loan, call 018554489 or email info@ansaccu.ie and a member of staff will be happy to assist

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