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.

Key Points To Be Aware Of:

1. You must have shares of €63.49 to open a deposit account.
2. There is free Life Savings Insurance on Deposits (plus Shares) – maximum cover €12,700.
3. 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.
4. Tax is deducted from any interest earned, 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 if total income is less than €20,000 for an individual and €40,000 for a couple.
   Note: 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. DE1 Form

Download a DE1 form

For information on Life Savings Cover click here