Benefits of savings
- Competitive dividend on your savings at the end of the year
- Members savings' (up to certain limits) are insured at no direct cost through the Credit Union Life Insurance Scheme
- Easy access to your savings if you wish to make a withdrawal (once not pledged against loans)
- No hidden charges or fees on any transactions
- Government Guarantee - Individual members savings at your Credit Union now guaranteed up to €100,000
Share Accounts
There are two types of share accounts available. Regular share account and Special share account.
Regular share account
With this type of account DIRT tax is not deducted from the dividend earned. It is left to the members themselves to pay the DIRT to the Revenue Commissioners.
Special share account
Unlike the Regular share account DIRT is deducted at source from the dividend on this account. The current rate of DIRT tax is 20%.
Withdrawals
Members can withdraw their Credit Union savings provided they are not pledged as security for a loan. However, as far as possible, you the member are encouraged to keep your savings intact, thus ensuring:
You continue to earn a dividend
You continue to benefit from Life Savings Insurance Protection
Your credit worthiness and capacity to borrow is maintained
Life Savings Insurance
Depending on your age, the credit union will provide upon your death, insurance benefit on your savings up to a maximum of €8,000.
“Your savings, your Credit Union”
Dundalk Credit Union is owned and controlled by its members, and every member has a vote irrespective of the size of their savings. The Credit Union exists only to benefit its members and all monies received by the Credit Union are used for the mutual benefit of all of its member's.
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