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Regular share account

Regular savings are essential as these are the funds that are available to finance the loans we issue.

All shares earn an annual dividend, approved by the members at the AGM, and historically this has been very competitive with interest rates available in other financial institutions .Dividends are paid on these savings and the Member is responsible for informing the Revenue Commissioners in his/her income tax return.

The Revenue Commissioners can inspect the records of the credit union regarding member’s accounts.

The Credit Union intend transferring shares to dirtable shares and advice to members will be included in the AGM booklet. Anyone exempt under the finance act, i.e. members 65 years and over should contact the Credit Union.

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Special share account

Dividends are paid on these savings and the Credit Union deducts DIRT (currently 30%) from this dividend and pays it directly to the Revenue Commissioners.

The member has no further tax liability on this money and the member does not need to disclose it in their tax return.

For full Details of Dirt Tax click here

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special term accounts

By locking in shares for 3 or 5 years, members can reduce their tax liability. You may open a 3-year or 5-year term account (not both)

Medium Term Accounts (3 years) a member can earn up to €480.00 dividends per annum tax-free.

Long Term Accounts (5 years) a member can earn up to €635.00 dividends per annum tax-free.

Any withdrawals from these accounts within their terms will incur a tax “claw back” of DIRT by the Revenue Commissioners. These shares can be used as collateral when applying for a loan.

Application forms are available from the staff in Your Credit Union or downloaded from the web site.

Download Form

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deposit accounts

Deposit accounts are available to members who have reached the maximum amount allowed in their share accounts, so as to allow them to keep saving.

The maximum currently allowed in their share account is €55,000.00.

Interest payable on deposit accounts at present is 0.5% variable.

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Saving stamps

€2.00 and €5.00 saving stamps are available in the credit union office, which you can cash any time for whatever purpose you require.

Holidays, Medical expenses, Home improvements, Communions, Confirmations, Schoolbooks, School uniforms, Christmas expenses, Weekend breaks, Bills, Emergencies, etc.

Cards are provided to keep your saving stamps safe.

The cards do not need to be full to cash them.

You need to write your name on each part of the card so as if they are lost will help to prevent others from cashing them, also for your protection we will require photo ID. If you do lose the cards then notify the staff in the credit union as soon as possible and the staff will put a message on our teller screens so as to watch for them should anyone else try to cash them.

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