Savings Savings

Savings

Benefits of Credit Union savings

  • Savings balances over and above any loan you may have are available to you to withdraw on demand.
  • Free life cover on saving up to €13,000 (subject to terms and condition)
  • A savings protection scheme is in place to the benefit of the member up to €12,700
  • There are no transaction charges or fees.

For small to medium savers your Credit Union is where you belong.


Types of Share Accounts

Regular Share Accounts

  • Members present accounts with the Credit Union are considered as a Regular Share Account. These accounts are suitable for those who are not liable for income tax
  • The onus is on the member to declare their account to the Revenue Commissioners
  • Dividend rate declared at A.G.M. is posted gross to members accounts
  • No disclosure is required by Credit Union

Special Share Accounts

  • Member must request in writing that their account be changed to a special share account
  • Dividend paid to member net of DIRT
  • Return made by Credit Union does not include individual members details
  • Member can hold both a regular or special share account but not both


Security

Credit union members can rest easy in the assurance that their savings are safe. Credit Unions in Ireland, which are affiliated to the Irish League of Credit Unions, are secured in several ways:

  • All officials of Credit Unions, whether volunteers or staff, must be fidelity bonded
  • Member's savings within certain limits are insured through Life Savings Insurance
  • All monies received in the credit union are properly recorded and lodged regularly
  • Full financial statements are prepared and can be examined by members
  • Annual independently audited returns are lodged with the relevant authority, The Irish Financial Regulatory Authority
Douglas Office
  • Tel:
  • Fax:
  • Email:
  • Web:
  • 021 489 4555
  • 021 489 4733
  • www.douglascu.ie
  • Douglas Credit Union Limited West Douglas, Cork
Opening Hours
  • Mon, Tues, Thurs & Fri: 10am - 5pm
  • Wed: Closed
  • Sat: 10am - 1pm
Grange Office
  • Tel:
  • Fax:
  • 021 489 0355
  • 021 489 0367
  • Unit 3, Supervalue S/C, Grange Road,Douglas, Co. Cork
Opening Hours
  • Mon, Tues: Closed
  • Wed, Thur, Fri: 10am - 5pm
  • Sat: 10am - 1pm
Passage West / Monkstown Office
  • Tel:
  • Fax:
  • 021 484 1317
  • 021 486 3084
  • Chapel Square, Passage West, Co. Cork
Opening Hours
  • Mon, Tues & Thurs: 9.15am - 4pm
  • Wed: Closed
  • Fri: 9.15am - 6.30pm
  • Sat: 9.15am - 12pm
Douglas Credit Union Ltd is Regulated by the Central Bank of Ireland. Reg No. 46CU