Deposit accounts

Enjoy the convenience of a Deposit Account*

Key Points:

You must have shares of €63.49 to open a deposit account.
There is free Life Savings Insurance on Deposits (plus Shares) – maximum cover €12,700.
The maximum payable from the Life Savings Insurance to a nominated beneficiary is €23,000 – the remainder goes to the estate of the deceased member.

From 1st January 2014 all Credit Union share dividend and deposit interest paid to members will be subject to DIRT, unless the member is over 65. Members 65 years of age and over may be exempt from paying D.I.R.T on deposit interest. Total income must be less than €18,000 for an individual and €36,000 for a couple. (Subject to change, see for full details).

* Available to members with minimum balance of €63.49 in their Special Shares Account. Maximum individual deposit account balance in any Credit Union is €100, 000. A DE1 form (to claim exemption from D.I.R.T) can be downloaded by clicking on the link below or can be obtained from the Credit Union office. Interest rates subject to change – please check our website for updates.

If you do not complete the self-declaration form, the credit union will be obliged to deduct DIRT from your dividend or interest. You will then have to apply directly to the Revenue Commissioners for a refund of this DIRT (if you are eligible). For information on Life Savings Cover click here