CANA Credit Union Ltd. has operated Budget Accounts since 2001.

Budget accounts are designed to help you budget for your household bills i.e. Rent/Mortgage, Electricity, Gas, Telephone, Bank Loans, HP, Car Tax & Car Insurance.

You can also budget for events during the year i.e. Holidays, Christmas, Communion/Confirmations.

The account is funded through a weekly/fortnightly payroll deduction or standing order payment.

You complete a Budget Card estimating how much you want to budget for each category of expense, add them all up and divide by the number of pay dates there are in the year i.e. 52 if you’re weekly paid, 26 if you’re fortnightly paid, 12 if paid monthly.

The charge for operating the account is only €15 per year.

Throughout the year there may be times when you have insufficient funds to pay certain bills. When this happens you may overdraw your balance up to 25% of your total estimated annual expenditure. You are charged interest on the overdrawn balance at our standard lending rate of 5.9% (6.1% APR).

To pay bills like Electricity, Phone, Gas you can send us the bill or simply e-mail us how much you want to pay, we can pay most bills by EFT now so once we have paid a certain for you before we can pay it again on your instruction.

Download and a Budget Account Application here. Fill it out, send it back to us and start your budgeting journey!

To find out more about budget accounts or if you need help filling out your form please contact the CANA office.

You can also read our Budget Account Scheme Rules for more information.