Modern living involves the payment of all kinds of regular bills, such as mortgages, electricity etc. Using the credit union Budget Account service, provided free of charge, members can release themselves from the burden of having to remember to pay these bills, and also save themselves the time and inconvenience involved in making each individual payment. Farranree Credit Union has a facility whereby you can pay a number of service providers including the local County Council and a number of banks on a monthly/weekly basis for a fixed amount.
How does it work?
You decide which regular bills you want to include in the budget plan. Next, you estimate how much each bill will be over the twelve-month period, and total all of them up. Members should be well advised to over-budget a little in case of emergencies and increases in the cost of some of these bills. Divide the total amount by 50 if paying weekly or by 11.5 if paying monthly.