Savvi Winter 2024 Newsletter

Christmas is coming!

Make Your Christmas Merrier with a Flexible Christmas Loan.

As the festive season draws near, many of us are already thinking about how to make the holidays extra special. Whether you're keeping it simple or going all out with the decorations, gifts, and celebrations, the joy of the season often comes with extra expenses. But don’t worry – Savvi is here to help.

If you're looking for a little extra financial flexibility this Christmas – whether it's for buying the perfect gift, planning a bigger celebration, or simply adding that extra touch of magic to your festive season – talk to us today about a flexible Christmas loan.

We offer competitive rates, personalized support, and a commitment to making your Christmas a little brighter. With a Christmas loan from Savvi, you can focus on what truly matters – spending quality time with family, making memories, and enjoying the spirit of the season.

Fraud Awareness: Stay Safe with Savvi Credit Union

Fraud is something that can impact anyone, but by staying alert and informed, you can protect yourself from fraudsters. At Savvi Credit Union, we’re here to help you stay one step ahead and keep your personal and financial information safe.

Here are some simple steps you can take to safeguard yourself:

1. Be Cautious of Unsolicited Messages

• If you get an unexpected phone call, email, or text asking for personal details, be sceptical! When in doubt, contact us directly to confirm if it’s legitimate.

2. Keep an Eye on Your Accounts

• Regularly check your account statements to spot anything unusual. It’s one of the easiest ways to catch potential fraud early!

3. Use Strong, Unique Passwords

• Create unique, strong passwords for your online accounts, and don’t forget to change them from time to time to keep everything secure.

4. Act Fast if You Suspect Fraud

• If you notice anything suspicious or think you’ve been targeted, report it to us immediately. We’re always here to help.

Remember, staying vigilant is your best defence against fraud. If you ever have questions or need assistance, reach out to us — we’ve got your back!

Planning Ahead with an Enduring Power of Attorney

While you may not need support right now, planning ahead can give you peace of mind for the future. By setting up an Enduring Power of Attorney (EPA), you can choose someone you trust—usually a family member or close friend—to make important decisions on your behalf if you’re ever unable to do so.

With an EPA, you can give your attorney the authority to handle a range of matters for you, from personal welfare to property and financial decisions. You can decide whether they’ll have the power to manage all your affairs or just specific tasks.

How Does It Work?

Setting up an EPA is straightforward and involves two key steps:

1. Choosing Your Attorney

• You pick one or more people to act on your behalf and outline the decisions they’ll make for you. At this stage, you’ll register the EPA with the Decision Support Service (DSS) while you still have capacity.

2. Activation of the EPA

• If, in the future, you’re unable to make decisions, your attorney will notify the DSS to activate the EPA so they can step in and support you.

By making an EPA, you stay in control of who will manage your affairs if you’re no longer able to, ensuring your wishes are respected.

The good news is, you don’t need a solicitor to set it up—it can all be done through the DSS, thanks to the Assisted Decision-Making (Capacity) Act 2015.

For more details on how to get started, click the button below.

It’s never too early to plan ahead and give yourself peace of mind!

Mortgage Interest Tax Credit – What You Need to Know

In last year’s Budget, a temporary one-year Mortgage Interest Tax Credit was introduced to help homeowners manage rising interest rates. If you have a qualifying loan for your home, you may be eligible to claim this relief for the year 2023.

Here’s how it works:

• The tax credit applies to homeowners with an outstanding mortgage balance between €80,000 and €500,000 as of 31st December 2022.
• It covers the increase in interest you paid in 2023 compared to 2022.
• The amount eligible for relief is capped at €6,250, meaning the maximum tax credit you can receive is €1,250 at the standard tax rate of 20%.

This relief is especially helpful if you’re on a tracker mortgage (and to a lesser extent, a variable-rate mortgage) given how interest rates have increased in recent years.

How to Claim Your Tax Credit

To claim this valuable tax relief, you’ll need to submit the following documents:

• Mortgage interest certificate for 2022.

• Mortgage interest certificate for 2023.

• Confirmation of your outstanding loan balance as of 31st December 2022.

You can request these documents from your mortgage provider.

For more information and to claim the credit, click the button below.

If you’re eligible, make sure to claim it and take advantage of this potential saving!

Electric Aid

Founded by staff volunteers in 1987 and inspired by LiveAid, ElectricAid has seen ESB and EirGrid staff donate millions of euros, funding thousands of projects worldwide. They believe in the power of collective action to create lasting change. For over 37 years, they’ve supported charities that empower communities around the world. From local initiatives to providing hope across 91 countries, their goal is to make a difference where it’s needed most.

ElectricAid is more than a charity—it’s a commitment. Their collective energy creates real, sustainable impact, and every contribution brings us closer to a brighter world. By signing up to become a regular donor to ElectricAid, you’re creating change. With 100% of funds reaching those in need, every contribution becomes part of something bigger. You’ll help power projects that alleviate poverty, promote sustainable development, and respond to humanitarian crises.

To encourage even more ESB staff to join, we’re offering a chance to win one of two Sony Wireless Noise-Reducing Headphones. All those who are signed up to be monthly donors before 1st December will be entered into the draw. The headphones are sponsored by Savvi Credit Union, in keeping with 100% of funds raised going to charitable causes.

Loans are subject to approval. Terms & Conditions apply. 

Savvi Credit Union Ltd. is regulated by the Central Bank of Ireland.
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