1. Dacia Credit Union’s Board of directors introduces a new series of loan types, called promotional loans, which were meant to come closer to members’ needs. Such loans were: loans for Holydays, the Anniversary loan and the loan for the new school year. The loans for Holydays were a big success, requested by large part of our members near Christmas. Being a loan with a low interest rate, it covered members’ needs near Holydays.
2. In the last couple of years the credit union continued its past evolution, thus the main financial indicators reported an uptrend.
The E2 index – the index of members’ saving accounts’ protection had a value of 8.34%, being by far greater than the interests paid for deposits in the banking system.
The A3 index – the share of bad performing loans in total loans granted was of 1.55%, reflecting the Board’s concern in recovery of default loans.
Members’ saving accounts grew 11.45% and the productive assets with 37%.
3. Dacia credit union currently offers the following types of loans:
- · Traditional loans, their amount is a multiple of member’s saving account;
- · Diversified loans;
- · Loans for capitalization;
- · Promotional loans;
- · Loans for holydays.
An additional service provided to our members is the non-refundable burial aid granted to member’s successors in case of his/her decease, as well as the non-refundable burial aid granted to members in case of decease of their 1st degree relatives.
4. The Board of directors, through adequate management, plans to keep offering best protection for members’ saving accounts. The loans for holidays will be better promoted, being a type of loans with low interest rate meant to provide the means to acquire holyday tickets in resorts from Romania and abroad.
In order to develop credit union’s activity the Board plans to open a new agency.
The main categories of services provided to members are loan granting and savings through shares account. Dacia Hunedoara’s loan offer includes:
- traditional loans, which, as their name suggests, have a tradition of over 40 years. Their value is determined as a multiplier of members share account.
- optional loans, introduced more recently in credit union’s offer at members’ demand. Their value is determined by each member’s creditworthiness and does not depend on share account. They are highly appreciated especially by newer members who do not have high share accounts and due to the promptness they are granted, thus helping members overcome immediate financing needs.
Constantly, Dacia Hunedoara tried to come in its members support by rescheduling loans when reimbursement became difficult. Starting January 2011, at the Credit Union Association from Hunedoara County’s suggestion, we have adopted a policy of continuous decrease of loans’ interest rate. Loans within the limits of share accounts have been promoted, having a discounted interest rate. Due to management’s efforts, the adequate liquidity level is permanently kept, loans being rapidly granted.
The regulations regarding burial-aid have been modified in order to include members’ first degree relatives, even if they are not members themselves.
Dacia Hunedoara Credit Union is a non-banking institution with a history of over 40 years. It was founded in 1962 by a group of employees from the education system.
In 1972, due to consolidation movement of the system, it absorbed other smaller, less performing local credit unions, thus becoming one of the first credit unions in the county who implemented the use of modern hardware, available at that time in members accounting management and internal management.
Until the end of 1989 it had been under the administration of Hunedoara Unions municipal Council, and in January 1990 it was affiliated to Credit Union Association of Hunedoara County. Since then it has benefited from Association’s methodological guidance, surveillance and control and support in merging processes with other smaller credit unions. Currently, it is registered in National Bank’s evidence register of non-banking institutions.
Dacia credit union serves about 2500 members who are employees in various areas of activity such as: education, local administration, healthcare and different companies.
A well prepared personnel ensures credit union’s activity. In order to provide top quality services to members, the employees periodically follow training programs organised by the Credit Union Association from Hunedoara County in association with Romanian Banking Institute.
The board of directors, the employees and the revision commission are constantly preoccupied on offering best suited services to members, as well as developing new ones. Therefore, there is a permanent dialogue with them, their needs being the ground level of provided services.
A young team who benefits from their predecessors’ experience of over 40 years ensures a good management, reporting their members great financial results, altogether with a friendly and welcoming environment may be good arguments for other citizens of Hunedoara to become members of this credit union.
Indicator to 2018-12-31
CAR Dacia Hunedoara IFN
Str. Avram Iancu ,bl.136,ap.15/P 331023Hunedoara, Hunedoara
Presedinte/President - Sanc Elena
Dir.ec./CFO - ec. Trocaru AdrianAgenții/Agencies