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Dundalk Credit Union
There are so many good reasons to save with us. When you become a regular saver, you create an invaluable life skill. This creates a rainy day fund and develops good budgeting and financial habits. You build a strong credit record and know that by saving with Dundalk Credit Union you are supporting your community.
Why Save with Us
Build a Savings Habit
Annual Dividends on Shares/Savings
Supporting our Community
Life Savings Insurance
WHAT TYPE OF ACCOUNT IS FOR YOU?
Special Share Account
The special share account is your primary savings account. DIRT is deducted at source from any dividend paid on this account.
Our current account provides accessible banking for our online members. This account does not earn a dividend. You can use this account to transfer funds electronically, pay bills or withdraw cash from our ATM. You can also get your wages from your employer paid into your current account. There are currently no banking fees attached to this account.
Many of our members start with us as children, going to school, onto college and jobs, buying and extending their homes. Part of what makes Dundalk Credit Union special is that our members generally stay with us throughout life’s journey, often introducing their own children to us as new junior members.
Accounts that have had no member initiated transaction in the past 3 years will be considered dormant. You will get a notification letter giving you time to update your account details before this occurs. You will be given a date by which your identification details must be updated. If the details are not updated your account will become dormant. A dormant account cannot be used again until the member details have been updated.
Depending on your age, Dundalk Credit Union will provide an insurance payment on your savings to your family and loved ones in the event of your death.
A nomination is a legally binding, written instruction that tells Dundalk Credit Union what to do with your money after your death.
The Nomination service is very valuable to our members in that it allows access to nominated funds by the nominee within a very short period of the death of the member. While we understand this will not relieve the loss suffered by the nominee, it will serve to relieve any potential cash flow difficulties at an already stressful time.
A member can nominate anyone family or friend or group of people. It is important that members review their nomination form regularly. The person you nominate is called a nominee.
Members of the Credit Union can nominate a person to receive their Credit Union Shares and insurance benefits (if any) up to €23,000 on their death.
Yes, by filling in a new nomination form. A nomination becomes invalid if the member gets married or the person that has been nominated dies. It is a good idea therefore to review the nomination from time to time, in order to ensure that the person/s nominated is/are the most appropriate. Note Divorce or legal separation will not revoke a nomination.
Yes, a member of staff will be delighted to confirm whether you have completed a nomination and who your nominee is.
If you joined as a child you would not have had a nomination form completed. Once you reach the age of 16 you will need to fill out the nomination form.
Members please note the following:
- A nomination must be in writing. You may obtain a nomination form from any of our offices. The statutory maximum amount that will be paid out under a nomination is currently €23,000. Any amount in excess of this balance will form part of your estate.
- If you elect not to complete a nomination, the proceeds of your account will form part of your estate on your death and will be dealt with under the terms of your will, or if you have made no will, under the rules of intestacy or under the small payments provision.*
- You may revoke or vary your nomination at any time by completing a new nomination form.
- A nomination is not revocable or variable by the terms of your will or by a codicil to your will. A nomination is automatically revoked when your nominee dies before you. In this case, you should consider completing a new nomination. If you do not, your property in the credit union will form part of your estate.
- A nomination is automatically revoked by your subsequent marriage. Note that Divorce or legal separation will not revoke a nomination. Where your personal circumstances change (e.g. marriage, divorce or separation) you should review your nomination at that time.
- The nominated savings do not form part of a deceased person’s estate.
- A person under 16 years of age cannot make a valid nomination.
* Small Payments Provision: Where no valid nomination exists and the amount in your account is under €15,000 in total (including insurance, etc.) the Board of Directors of Dundalk Credit Union may, without letters of administration or probate of any will, distribute your property in the credit union to such persons as appear to the board to be entitled by law to receive it.