As a proof of efficient management, CAR Paringul IFN stays constantly in the top of the Hunedoara county credit unions, reaching a well deserved 3-rd place in 2003. These results would not have been possible without the seriousness and professionalism of the staff and the dedicated work of the Board of management that made pssible expanding the range of services and increasing the efficiency and speed of the process of analyzing and granting loans.
Any employee, or person that demonstrates a steady income can become a member of CAR Paringul Petrosani IFN. Unemployement or retirement does not mean the loss of this status, both these cathegories of members are entitled to continue a full membership. Being a member presents several benefits:
- the president of CAR Paringul, presenting the yearly report
- the possibility of accumulate savings as members shares. These are rewarded with a yearly interest that depends on the financial results and the decision of the Board of management
- the swift access to loans;
- the non-refundable burial aid
- granted to successors in the case of a deceased member, in an amount esteblished by the Board.
The main financial services offered by CAR Paringul Petrosani IFN are the following:
Traditional loans granted as a multiple of the members shares account;
- Occasional loans, not depending on the members shares accounts. Here we include the holiday and treatment loans and the holiday promotions.
The details on accessing loans are negotiated, in permanent accordance with the members needs and financial possibilities.
As a funding member of UTCAR Hunedoara, CAR Paringul Petrosani IFN implements the strategies developed and adopted by the association, currently focusing on the expansion in rural areas and increasing the social involvement in the local communities. Since June 1-st 2014 a new main office is in downtown Petrosani, this way we are coming even closer to our members. We also continued the territorial growth, opening a branch in Timișoara and an agency in Petrești - Alba County, and the process continues.
C.A.R. PARINGUL is a non-banking financial institution that appeared at January 1-st, 2006 as a merger of three credit unions with a mining background: CAR Preparatorul Petrosani, CAR Livezeni and CAR E.M. Aninoasa, institutions with a long and fruitful experience, but all of them on a downward trend because of the decline of the mining industry in Jiul Valley. To avoid the decline of members and activity, these decided to merge and externalize in order to progress and regain efficiency .
The merger allowed the three entities to join their resources into one stong financial institution, able to join the top performant credit unions in the area. The new, coordinated and efficient management met in short time the expectations members had when they decided to unite efforts.
The main office of CAR Paringul is in Petrosani, Str. 1 Decembrie 1918, nr.97, but there're also an agencies in Petroșani, Petrila, Vulcan, Timișoara and Petrești-Sebeș. In the year 2010 another small credit union merged with CAR Paringul, that operates now as the Paroseni agency, in one of the buildings of the Paroseni Power Plant. A new and modern agency was opened in 2012 in downtown Petrosani, right beside the I.D. Sarbu Theatre. That was followed by the new, modern head-office opened in 2014, The Petrila, Timișoara and Petrești Sebeș agencies are the result of the territorial expansion policy of the last couple of years, as policy that already brought significant increase in our activity.
The members of CAR Paringul Petrosani IFN originated originally from all over the Jiu Valley, from Petrila to Uricani, covering the entire social-professional spectrum of the population. Now, the numbers increased significantly,passing 4000 members in 2015 compared to the original 990 in 2006., as a proof that the results in all these years were satisfying. The volume of granted loans increased also significantly, compared to 2006 when the merger created this institution.
We must emphasize that, even with low interest rates for the loans, the careful monitoring and optimizing of the expenditures allows us to to award attractive rates for the members savings (members shares), this way we can fulfill one of the very important goals: protecting the savings from inflation and offer a real gain. The incomes allowed us to reward each years the member shares with a higher interest than any bank offers, even if we continuously lowered the interest rates, invested in new agencies and kept up to date the IT equipments of the credit union.
All these results propell CAR Paringul as one of the top credit unions affiliated to UTCAR Hunedoara. Considering the UTCAR Hunedoara is by far the most powerful regional association, this allows us to look confidently ahead.
Indicator to 2018-12-31
CAR Paringul Petrosani IFN
Bd. 1 Decembrie 1918, nr.97 332079, Petrosani, Hunedoara
Presedinte/President - Răscolean Dumitru
Dir.econ./CFO - Bilegan Simona
Agenții/Agencies: Timisoara, Petresti-Sebes, Paroseni, 2xPetrosani, Petrila