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PEOPLE HAVE BEEN trusting An Post more and more with their savings over the course of the last six years according to the company’s report for last year.
An Post say that savings at the semi-state is now more than €18 billion and represent 16 per cent of all personal savings in the country.
This is due the a tripling in the amount of savings being placed with An Post since 2008.
Overall, An Post say that they strengthened their position 2013 by reducing their operating loss to €11.4 million from €17.5 million the previous year.
Group turnover was €811.7 million, an increase on the 2012 figure of €807.3 million.
The service say that on average they collected, processed and delivered 12.5 million items of mail every week last year .
Mail volumes are declining however, with a 2 per cent drop in traditional mail last year and a 30 per cent fall since a 2007 peak. But An Post points out that last year’s 2 per cent fall was slower than in previous years, pointing to increased economic activity.
The company adds that they achieved a 22 per cent increase in contracted deliveries last year, something driven primarily by online shipping.
In a statement accompanying the annual report, An Post points towards cost saving as an area they have focused on to reduce their loss, and have so far achieved cuts of €100 million.
In addition the company say that it plans to reduce staff numbers by 1,000 over the next five years.
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Great place for kids savings and Cyril the Squirrel stamps are so handy, a real encouragement to show kids how to save. And the bonds they issue via NTMA are great for long term savings.
Cyril the Squirrel is nice but he’s nothing compared to Sammy the Seal.
Their rates have plummeted over the last 18 months. The best thing about an post is that most of their products are dirt free.
Trouble is the timing though. You have to tie it up for a significant portion of time to get anything good.
If you take DIRT of KBC or PTSB’s deposit accounts, the banks still come out on top.
For example the 3 year account in TSB is 7% or 2.4% a year if you take off the DIRT you still get 1.4% a year after tax.
The post office on the other hand is 4% gross or 1.3% a year for the same period.
Penalties for withdrawals are a lot less harsh in the post office though.
Tis a pitty their postal service is rubbish. I can’t remember the last time ive actually had a parcel delivered to my house. They knock the door once and then run away, and you have to go collect it from one of their postal centres.
SDS some day soon
Well Darren there not gonna wait around all day for you or anyone to answer the door they have a lot of other houses to go to aswell.
SDS gone for years
Well Darren u must have the shortest driveway in the land r mayb just mayb if u didn’t take 5 mins to answer the door u might get ur parcel, postmen in our area do a brilliant job and have a lot of distance to cover especially in the rural areas. We should withdraw all our money from the banks, put in credit unions and post offices and c how the banks work then
10% over 3 years done after in late 2012.
Cant wait to get me interest. Im going to disneyland!!
What’s their credit rating anyone know?
State held funds, so about as good as you can get.
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