Every member of the credit union holds a share account. A member can open the following two types of Share Accounts when accepted as a member (subject to the rules of the common bond).
Special Share Account: On payment of a dividend DIRT is automatically deducted at 30%. Once DIRT has been deducted the member has no further tax liability on his/her dividend.
Regular Share Account: On payment of a dividend no DIRT is deducted. Members holding a Regular Share Accounts are required to declare any dividend they receive to the Revenue Commissioners in their annual Tax Return. These accounts may suit members who are exempt from tax, or members who prefer to make their own declaration in their annual Tax Return to to the Revenue Commissioners.
Please contact your Tax Advisor if unsure of what type of Share Account to open
Dividends
Dividend are usually declared at the Annual General Meeting of the Credit Union(1.25% dividend was declared for year ended 30th September 2011).
Free Insurance
At no extra charge to our members, we have arranged free insurance both for shares (savings) and loans. In the case of shares the maximum amount covered is €12,700. These benefits are payable upon death of the credit union member.* Terms and conditions apply.
Here’s how the share cover works:
For Every €1 saved in the following age brackets you will benefit as follows:
| Age | Benefit |
| Before age 55 years* | €1.00 Share Insurance (100%) |
| Between 55 – 59 years | €0.75 Share Insurance (75%) |
| Between 60 – 64 years | €0.50 Share Insurance (50%) |
| Between 65 – 70 years | €0.25 Share Insurance (25%) |
*Withdrawal of savings by members after the age of 55 may affect the amount of Life Savings benefit. This will occur if a member withdraws savings and brings their savings balance below what they held at the age of 55
