Savings 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. You have a share in the ownership of the Credit Union, so as well as earning dividends on your shares, you can have a say in the operation of the Credit Union. Each share saved is eligible for a dividend at the end of the year. The more savings you have the more dividend you receive. By saving regularly you not only help yourself, you also help your community as your savings provide a loan fund for other credit union members.

Benefits of Credit Union savings

• Savings balances over and above any loan you may have are available to you to withdraw on demand.
• Earn dividends for savings available on demand.
• Life cover at no extra cost on saving up to €20,000 (subject to terms and conditions)
• There are no transaction charges or fees.

For small to medium savers your Credit Union is where you belong.

Security of Savings

• The Government Deposit Guarantee Scheme covers each individual member's savings up to the value of €100,000.
• 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 this credit union, whether volunteers or staff, are 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 Central Bank of Ireland.
  • In addition to this, the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions is also available to pro actively intervene to protect members' savings by making available financial assistance to help any credit union which may experience difficulties.