- Whether you are saving for something in the future or just a ‘rainy day’, regular saving is always a good idea.
- With us, you are not just a customer; you are an active member of a community organisation and highly successful financial cooperative.
- You can rest assured that your savings are safe and secure, earning a good dividend and helping the community.
- Members enjoy equal rights to vote (one member, one vote) and participate in decisions affecting the credit union.
- If we declare a dividend at the end of the financial year, each share you hold for that year is eligible for a dividend. The more shares you hold, the greater the dividend you receive.
- You have the added bonus of knowing that your savings are being used to make loans for other members.
- There are no transaction charges on saving (or loan) accounts.
- Savings are insured at no direct cost to eligible members.
- If you intend to borrow in the future, your savings will be taken into account. When you are in the habit of saving regularly, you will find paying back a loan easy.
When you save with Carlow Credit Union, you can rest assured that your money is safe and sound. Here are just some of the measures we take to ensure its safety:
This is the life insurance cover we take out for all eligible members as an additional incentive for members to save regularly and maintain their savings. There is no direct cost to members. The insurance is paid in addition to the savings you hold at the time of your death. The amount depends on the member’s age, how much you have saved over the years, and other terms and conditions.
The Central Bank of Ireland is responsible for administering the Irish Deposit Guarantee Scheme which provides protection to depositors in the event of a credit institution failing. Deposits up to €100,000 per person per institution are protected and compensation is payable to eligible depositors within 20 working days. Eligible deposits in banks, building societies and credit unions authorised in Ireland are all covered by the scheme.