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Tullamore Credit Union reports QUIDS voucher scheme a great success.

6th January 2016

With over 60 local businesses participating, the 2015 QUID voucher scheme run by the Tullamore Chamber of Commerce in conjunction with Tullamore Credit Union, has almost doubled since last year.

In 2014, €48,985 vouchers were issued. This jumped to just under €96,000 for 2015.
QUIDS are vouchers which can be spent in over 60 local businesses in the Tullamore area. The chamber encouraged employers to treat their staff in the run up to Christmas as, under the Small Benefit Exemption Scheme, employers can give QUIDs to employees, up to a maximum of €250 per employee, as one-off benefit in a tax year without incurring liability for Income Tax, USC or PRSI (Employers or employee). Plus, with no fees or commissions when QUIDs are purchased or spent, they were as good as cash, with the added bonus that they were spent locally, thereby boosting the local economy.

Tullamore Credit Union was delighted to be involved in the scheme. Operations Manager Eilish Horan had this to say “We were delighted to be involved once again in the QUID Voucher Scheme. We sold just under €96000 worth of vouchers to employers before Christmas and now the vouchers are currently being redeemed here by the local business people who participated. The voucher scheme was a simple but effective way of boosting the local economy in the run up to Christmas, plus a great way for employers to reward their staff. You could definitely see the difference in the shops this Christmas. It feels like the economy is on the up and with small community spirited ideas like this one, supporting each other, we can all keep our town thriving for many years to come. We urge all local businesses to get involved and contact the Chamber office to get your name put on the list of participating stores.

The vouchers are still available for sale to individuals from the Chamber office and to businesses from Tullamore Credit Union, and are a great alternative to cash when it comes to birthday and wedding gifts.”

For more information on the QUID scheme - Tullamore Chamber QUIDS Vouchers
 

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