Bereavement Guide

The Board of Directors, management and staff of St Raphael's would like to express our condolences for your loss.
We understand that this can be a difficult time for you and your family and aim to help you through these financial steps and decisions as much as possible.

Bereavement Grant

A discretionary payment of €2,500 by the Board of Directors from Credit Union funds to support families at the time of a bereavement. 

Undertaker expenses

Funeral costs are often a large, unexpected expense. To make things easier, you may be able to access funds from the deceased member’s account to cover the costs of an undertaker. 

Life Savings Cover

Life savings cover is a life assurance policy, payable on death, that pays a benefit which is based on the amount of savings made during a member’s lifetime. In simple terms, a member’s share balance can be doubled on their death, subject to a maximum payment of €12,700. T&Cs apply. 

Bereavement Grant

A discretionary payment of €2,500 by the Board of Directors from Credit Union funds to support families at the time of a bereavement.

  • Death must be posted on ‘rip.ie’ website or in a national newspaper.
  • The deceased member must have joined the credit union before the age of 50 
  • The member must have been a member of the credit union for a period of 12 months prior to the date of death. 
  • The member must have been an active member of the credit union  (maintaining a balance of €300 at all times or by personally carrying out 4 transactions on their share/loan accounts in the 12 months prior to the date of death (does not apply to minor account under 16 years of age). 
  • The member must have had no loans in arrears with the credit union at the date of death. 

Undertaker Expenses

Funeral costs are often a large, unexpected expense. To make things easier, you may be able to access funds from the accounts of the deceased to cover the costs of an undertaker. 

  • Sufficient funds in the deceased member’s account. 
  • Signed expenses indemnity
  • An original invoice from the funeral undertaker

Life Savings Cover

Life savings cover is a life assurance policy, payable on death, that pays a benefit which is based on the amount of savings made during a member’s lifetime into their Special Share Account. In simple terms, a member’s share balance can be doubled on their death, subject to a maximum payment of €12,700. There are a number of factors that can affect this payment. For example, withdrawals after the members turns 55 years of age, can reduce the benefit payable. Similarly, lodgements made after this age may not benefit from full cover.

It is essential that there is an up to date form of nomination on the account. 

100% Cover

Funds lodged up to 55th birthday

75% Cover

Funds lodged between 55th and 59th birthday

50% Cover

Funds lodged between 60th and 64th birthday

25% Cover

Funds lodged between 65th and 70th birthday

The maximum pay-out is €12,700.

What we need:

Final Death Certificate. (Interim Death Cert only accepted if shares are lower than €300) 

Settlement of Deceased Member Funds

If the member placed a nomination on their account, funds up to a max of €23,000 will be disbursed to the nominee(s) without a Grant of Probate. This may include funds from the member’s accounts or from insurance proceeds.  Any remaining funds will be distributed when the Grant of Probate or Grant of Administration is received by the credit union.

Terms and conditions apply.