Cork Credit Union (HSSCU) Issues Historic €10 Million in Loans in Just 1 Month

9 August 2020
By Tom Collins
tom@TheCork.ie

News with Opinion

When I saw the name of Health Services Staffs Credit Union I thought it was a typo but “Staffs” is indeed correct, but this article isn’t about the English language, it’s about something more important: money! The HSS Credit Union (if we use an acronym we needn’t be offended by the English!) issued over €10 Million in loans to its members in July 2020.

Statement from Health Services Staffs Credit Union

“HSSCU understands that the past number of months have been difficult for all members. It was important for HSSCU to help members in the best and most responsible way possible. HSSCU set up an internal team to go back to basics, assess members’ borrowing needs during the COVID-19 pandemic and introduce new products and processes to cater for these needs.”

“HSSCU developed and adapted products to meet members’ needs. They introduced tailor-made products such as their ‘Stay at Home’, ‘Elevate’ and ‘Staycation’ loans*. These products helped address lending needs such as tiding members over during the pandemic, elevating members’ home-life scenarios and enabling members to take well-deserved breaks. HSSCU are committed to continue to innovate and introduce new and improved products and processes for members.”

Speaking about the milestone, HSSCU’s CEO, Sean Hosford stated,

“This is a major achievement for our Credit Union. We knew there was pent up demand following the shutdown, and by listening to our members, we quickly developed and launched products to meet their needs. We found our new Stay at Home, Elevate, and Staycation loans to be very popular, as well as existing products, such as our large home improvement loan. All of these loans are designed to be spent locally and we are delighted that our members, many of whom have worked on the frontline during the pandemic, can now also contribute to our economic recovery.”

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