Share Accounts are the most flexible way to save; you can save any amount you like, as often as you like, and deposit money into your account through your local office, online or via standing order. Savings can be withdrawn at any time, although to ensure your dividend, it’s best to keep your shares intact. For members who take out a loan, some shares will need to be held in collateral against a loan, limit is €20,000.
When a member has €63.50 in their Share Account, they can open a Deposit Account. The maximum amount that can be lodged to this account will be €10,000 as of 31st October 2020. If interest is paid on this type of account, please note that DIRT tax is deducted at source. A Deposit Account is ideal for putting some money aside for family, personal and household expenses, especially if your shares are being held as security against your loan.