The Credit Union is the only sector that is not affected by the increase in interest rate by the European Central Bank.
That's according to Minister of State at the Department of Finance, Sean Fleming, who spoke at the official launch of a new ATM at Link Credit Union in Bailieborough, alongside local TD Niamh Smyth.
A new ATM has also been installed at the Link Credit Union in Kingscourt.
Yesterday, the ECB announced that it's upping its key interest rates by 0.25 per cent in July, with the possibility of a larger hike again in September.
But Minister Fleming, who deals with Credit Unions, told Northern Sound that Credit Unions are immune from the ECB move/
However, he began by explaining the reason for his visit to Credit Unions in the Northern Sound region.
Towards the end of the interview with Minister Fleming, he invited Angela Rice, the CEO of Link Credit Unions, to answer a question (Click on the above image to hear this interview):
As mentioned, Angela Rice is the CEO of Link Credit Union, which covers Bailieborough and Kingscourt.
She said she was delighted to welcome Minister Fleming to Bailieborough:
Will Caffrey, is the Business Development Manager at Point Cash by Brink's which will run and operate the new ATM's in Bailieborough and Kingscourt.
Despite the rise in cashless transactions, Will says there is still a big role for cash in the future:
Local TD Niamh Smyth invited Minister Sean Fleming to the region, and she said it was a great to have the Minister in counties Cavan and Monaghan to meet with staff on the ground in Credit Unions: