Savings

Credit Union savings are known as shares. Hence the return on savings is called a dividend. Each share has a value of €1. Savings provide the capital base for funding loans.

Security

Credit Union members can rest easy in the assurance that their savings are safe. Credit Unions in Ireland affiliated to the Irish League of Credit Unions (ILCU) are secured in several ways:

• All officials of Credit Unions whether volunteers or staff are fidelity bonded.
• Savings up to a limit of €12,700 per member are guaranteed by the Savings Protection Scheme operated by ILCU.
• Members savings (subject to certain limits) are insured through Life Savings Insurance.
• Full financial statements are available on request.
• Annual independently audited returns are lodged with the relevant authority, IFSRA

Accessibility

Uncommitted savings are available 5 days a week.

Summary

Saving regularly:

• Demonstrates your ability to meet future loan commitments
• Secures your reputation within the Credit Union
• Builds a nest egg for you and your family.

Save by Standing Order