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.
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 €7,600 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, Central Bank of Ireland.
Uncommitted savings are available 5 days a week, ( maximum cash sum of €2,000 daily)
- 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
Arrange a standing order from your bank and be sure of regular payments to your Credit Union account. We will send you a statement showing all transactions twice a year. Find this form in our Downloads Section.