The Irish League of Credit Unions has announced that its member credit unions in the Republic of Ireland can now receive electronic payments due to their farming members from the Department of Agriculture, Fisheries and Food.
“This is a welcome change from the Department’s previous stance which only allowed payments to be made to credit unions operating full EFT services,” Kieron Brennan said.
The ILCU has agreed with the Department the necessary protocols to ensure the smooth operation of the expanded service.
Setting up and managing individual electronic payments from the Department of Agriculture, Fisheries and Food is quick and easy for credit union members.
A farmer simply has to sign a direct payment authorisation form, have it co-signed and stamped by his credit union and send the completed form to the Department of Agriculture to begin receiving electronic payments to their credit union account. Forms are available in credit unions or from the Department.