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Credit unions to offer new life products
A new range of life assurance and pension products are to be distributed through certain credit unions.
Cuna Mutual Group Services (Ireland) has linked up with insurance company Eagle Star to distribute life assurance, serious illness, mortgage protection policies and Personal Retirement Savings Accounts (PRSAs) to credit union members.
The products will initially be available through Lucan, Tullamore, St Anthony's in Galway and Dublin Corporation credit unions.
These credit unions are all affiliated with the Credit Union Development Association (Cuda), which wants to widen the range of financial services offered by credit unions.
Record intake for Northern Rock
Northern Rock has reported a record intake in new savings balances in Ireland, with balances growing by 51 per cent from €1.5 billion to €2.26 billion.
Across all of its deposit and savings products, Irish savers deposited €762 million with the British financial services provider during 2006.
Northern Rock attributed this to the popularity of its online account, Demand Online.
Ulster Bank offers new Bric bond
Ulster Bank has launched a bond that tracks the performance of stock market indices in the emerging markets of Brazil, Russia, India and China (known as the Bric countries). The bond offers full capital security at maturity after a term of either three years and 11 months or five years and 11 months.
