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:

1. You must open a Special Shares Account before opening a Savings Account.
2. Savings accounts are not insured under the Life Savings Insurance policy.
3. Savings accounts do earn interest.
4. Interest is paid annually.
5. Tax (DIRT) is deducted from interest, unless over 65. Members 65 years of age and over may be exempt from paying D.I.R.T on deposit interest, when 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.

Download a DE1 form

For information on Life Savings Cover click here