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Credit union defends decision to reduce death benefit insurance

Aug 10, 2022 19:08 By radiokerrynews
Credit union defends decision to reduce death benefit insurance Credit union defends decision to reduce death benefit insurance
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Management of Cara Credit Union has defended its decision to reduce the Death Benefit Insurance for members.

On Monday, the financial co-operative circulated a note to members to inform them that the insurance was to be reduced from €1950 to €1000.

Cara is the largest credit union in Kerry covering Tralee, Castleisland, Killorglin, Ballyduff and Causeway.

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Pa Laide, CEO of Cara Credit Union, said the service was costing €600,000 in claims a year, the second highest expense after wages.

Mr Laide said it was a tough, but fair, decision.

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