Why Save With Us?
In a nutshell...
- Your money is safe and secure.
- You get a say in how the Credit Union is run.
- When there’s a surplus, you get a dividend on every euro you save in your share account.
- You get access to great services .
- You receive many things for free that other credit institutions charge you for.
Is My Money Secure?
The short and simple answer to this question is, yes. It’s very secure.
There are two key things to be aware of when you become a member of St. Joseph’s Irish Airports & Aviation Credit Union:
- Our Credit Union has a proven track record of almost 50 years.
The strength of any credit union lies in it’s members and here we score very high. With over 15,000 members coming from a solid base of companies based around Ireland’s top airports, we are in an enviable position of financial stability.
Share Accounts
When you open a new account in St. Joseph's Irish Airports & Aviation Credit Union it's called a 'Special Share' account.
Everyone must have such an account to operate as a member of the Credit Union. Every euro in this account is also a share in the overall Credit Union - hence the name.
If you get a loan from the Credit Union, a certain amount of your 'shares' are frozen as
security against the loan i.e. the amount that is 'frozen' can't be touched until the loan is completed.
Deposit Accounts
Deposit Accounts are available for all members once you have a Special Shares Account with a minimum balance of €63.49.
The maximum individual deposit account balance in any Credit Union is €26,000, as defined by law. Interest rates will vary - please check our home page for up to date rates on deposit accounts.
Savings Account
A savings account option is available to all members who for whatever reason want to have a separate account for some of their funds.
Key Points To Be Aware Of:
- You must open a Special Shares Account before opening a Savings Account.
- Savings accounts are not insured under the Life Savings Insurance policy.
Loan Insurance
One of the benefits to joining St. Joseph’s Irish Airports & Aviation Credit Union is that all members get loan protection insurance for free*.
This means that, in the case of the death of a member, their outstanding loan would be paid off by the insurance.
There are a few important elements to this insurance:
- The insurance benefit payable is the amount of the member’s outstanding loan balance, subject to certain restrictions on balance limits, loan and interest balances.
- Cover ceases on the member’s 80th birthday.
* Subject to policy terms and conditions
