Save With Your Credit Union
Whether you’re saving for something in the future or just for a ‘rainy day’, regular saving is a good idea. Regular saving with your credit union is an even better idea.
BENEFITS OF SAVING
Explore some of the many benefits below
Direct Debit Payment
Online Card Payment
In Branch Payment
Our Savings Cap is currently €100,000. Please note however that this may change based on a number of variables including the interest rates imposed by The European Central Bank. And our obligation as mandated by The Central Bank to maintain a regulatory reserve of a minimum of 10% of their total assets.
This means that for every additional €100,000 of savings, we must allocate €10,000 from our surplus / profits to our Capital Reserve, which can effect the amount available to pay a dividend or interest rebate at year end and how much we can lend.
In the event of any change, we will notify all affected members accordingly. We will also update our wider community of members through our various communication channels.
Have a question? See if it's answered in our Frequently Asked Questions below.
At your credit union, you’re not just a customer, you’re a member of a successful financial co-operative.
And each share you hold in the credit union is worth €1. So, for every €1 that you save you are essentially purchasing one share in the credit union. You can withdraw your savings at any time provided they are not held in security against one of your loans. However, we would encourage you to keep up with regular savings. By doing so you can continue to receive dividends provided the credit union has generated a surplus in the given financial year.
Every year provided the credit union has generated a profit/surplus, this surplus is returned, after transfer to reserves, to its Members by way of annual dividend and in some years a loan interest rebate maybe returned to our borrowers.
Dividend is calculated on a daily basis on the share balances held during the financial year. The credit union financial year end is 30th September and dividends earned (if any) once approved at the AGM are lodged to every members account once a year.
Savings up to €100,000 are covered by the Deposit Guarantee Scheme which is administered by the Financial Regulator.
Member’s savings within certain limits are insured through our free Life Savings Insurance. You can read more on this here.
No, all members enjoy equal voting rights irrespective of the number of shares they hold. (1 member = 1 vote).
Provided the credit union has generated a surplus, dividends and possibly loans rebates, will be paid out in the days immediately following our AGM. They will automatically be lodged into your shares.