Every member of St Raphael’s Garda Credit Union holds a savings account known as a Special Share Account.
Members who hold funds in their share account may earn dividends on their savings every year. Dividends are declared at the annual general meeting (AGM) and are determined by the amount of surplus funds the credit union holds at year end (0.05% was declared for year end 30 Sept 2019). The amount paid to each member is in direct proportion to the number of shares they held over the financial year.
Please note that dividends paid to members are subject to DIRT (Deposit Interest Retention Tax) and that DIRT returns completed by the Credit Union will not include any individual member’s details. DIRT is deducted at source for special share accounts.
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 the death of the credit union member.* Terms and conditions apply.
*Withdrawal of savings by members after the age of 55 may affect the amount of Life Savings benefit.