Growth and Lending

Successful Launch of St Canice’s Kilkenny Credit Union's New Deposit Account Product

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Summary

At the end of February 2024, St Canice’s Kilkenny Credit Union introduced their latest offering to members: a 2-year fixed term deposit account product. The launch marked a significant milestone for the Credit Union, showcasing their commitment to providing diverse and competitive financial solutions tailored to their members’ needs. 

 

Collaborating for Success

St Canice’s Credit Union worked closely alongside Wellington IT’s Professional Services Team to understand their specific product requirements, outlining the key features and functionalities desired, setting the stage for a streamlined development process. 

Utilising the team’s expertise, the product was meticulously crafted and subsequently implemented on a test system for thorough user testing. Throughout this phase, John provided invaluable guidance, offering step-by-step procedures that facilitated the Credit Union’s own internal processes, particularly in establishing Deposit Account procedures. 

“One of the standout qualities of John’s support was his accessibility and clarity in communication. Whenever questions arose, John was readily available to provide clarification, ensuring a smooth and efficient development journey. His ability to convey complex concepts in a straightforward manner proved invaluable to our team.” 

Molly Drennan

Head of Operations

Following rigorous testing, the product seamlessly transitioned to the live system, allowing members to benefit from the new deposit account offering without delay. 

“We are delighted with how our Deposit accounts are going so far and we are thrilled to have more options to offer our Members.” 

Molly Drennan

Head of Operations

What the future holds

Eight weeks post-launch, the results speak volumes. St Canice’s Kilkenny Credit Union has successfully opened 47 deposit accounts, with members investing a total of €929,000. These figures underscore the tangible impact of the new product on member engagement and financial growth.  

Looking ahead, St Canice’s Kilkenny Credit Union remains committed to innovation and excellence in service delivery. The successful launch of the deposit account product serves as a testament to their dedication to empowering members with meaningful financial solutions.