Savings

Save With Your Credit Union

Whether you’re saving for something in the future or just for a ‘rainy day’, regular saving is a good idea. Regular saving with your credit union is an even better idea.

Benefits of Saving With Us

At your credit union, you’re not just a customer, you’re a member of a successful financial co-operative

Savings balances over and above any loan balance are available to withdraw on demand.

Free life cover on savings up to €3,000 (subject to terms and conditions).

There are no transaction charges or fees.

The State’s Deposit Guarantee Scheme fully protects the first €100,000 of a member’s savings.

Security

  • All officials of credit unions, whether volunteers or staff, must be fidelity bonded.
  • Members savings within certain limits are insured through Life Savings Insurance.
  • All monies received in the credit union are properly recorded and lodged regularly.
  • Full financial statements are prepared and can be examined by members.
  • Annual independently audited returns are lodged with the relevant authority, The Irish Financial Regulatory Authority.

Our Savings Policy

Your savings in a Credit Union are called your shares. Each share is worth €1.

Members own the credit union - each member has an equal voting right, regardless of the amount in shares. Your shares are used to provide loans to other members. By saving regularly with us, you not only help yourself, you also help your community. You may receive a dividend on your shares, if declared, after the AGM each year.

Member Information - Monthly Savings Cap

Carrick-on-Suir Credit Union has the following savings caps in place:

Maximum monthly lodgement:

  • Juvenile members €1,000 (from 1 Sept 2022)
  • This monthly savings cap must be strictly adhered to.
  • Maximum shareholding for adult accounts as of 1st March 2026 is €90,000.
  • Maximum shareholding for juvenile accounts as of 1st March 2026 is €10,000.