Savings
Shares
Savings as shares in a Credit Union are a better way to save. You are not just another customer but an active member of a highly successful financial co-operative. Along with having a say in the operation of the Credit Union you also earn dividends.
Benefits of Credit Union savings
- Savings balances over and above any loan you may have are available to you to withdraw on demand.
- High dividends for savings available on demand, you will not get a higher return at the same level of risk.
- Free life cover on saving up to € 13,000 (subject to terms and condition)
- A savings protection scheme is in place to the benefit of the member up to € 12,700
- There are no transaction charges or fees.
Types of Deposit Accounts
1 year account
Security
- Credit Union members can rest easy in the assurance that their savings are safe. Credit Unions in Ireland, which are affiliated to the Irish League of Credit Unions, are secured in several ways:
- All officials of credit unions, whether volunteers or staff, must be fidelity bonded.
- Members savings within certain limits are insured through Life Savings Insurance.
- All monies received in the credit union are properly recorded and lodged regularly.
- Full financial statements are prepared and can be examined by members.
- Annual independently audited returns are lodged with the relevant authority, The Irish Financial Regulatory Authority.
