Savings

Each share you hold in your credit union is equal to €1. When your credit union declares a dividend at the end of its financial year, each share you hold for that year is eligible for a dividend. The more shares you have, the greater the dividend you will receive. And you have the added bonus of knowing that your savings are being used to make loans to other members. Members just like you.

Thrift Account

The thrift account is a short term savings deposit account. A member must have a regular share account to open a thrift account. The maximum that can be held in a thrift account is €10,000.

Members can lodge any amount or withdraw from these savings at any time as they are not held against a loan. If you find you would like to put something aside for Xmas, holidays, return to school expenses you can open this account at any time.

How safe are my Savings?

Credit Unions are regulated by the Central Bank - the same body that manages Banks and Building Societies. The majority are affiliated to The Irish League of Credit Unions. Credit Unions are also bound by the acts of the Oireachtas and are fully insured against theft and fraud so you can be confident that your savings are secure.

Can I have easy access to my Savings?

You can withdraw your savings whenever you want provided that they are not pledged as security on a loan. Every member is however encouraged to continue saving as this means they will continue to benefit from life savings insurance and will carry on earning a dividend.

Whether you are saving for something in the future or just for a "rainy day" regular savings is a good idea. At your credit union you are not just a customer, you are a member of a successful financial co-operative.

Saving with the Credit Union always makes sense. By saving with us you are helping your community and your money is safe.