Savings
Start your savings habit with South Dublin Credit Union today
We all know the merits of saving money, either for something specific, for that "rainy day" or to build up a nest egg. Regular saving is a good idea. Regular saving with your credit union is an even better idea so start your savings habit today.
The big difference between your credit union and any other savings account is that members are part of a successful financial cooperative and own the credit union. Your savings contribute to our loan fund which means that your savings are helping other members who are people just like you to borrow to make their dreams come true.
Saving with South Dublin Credit Union
Members can save via direct debit or standing order from their bank, by bank transfer, by debit card 24/7 via our online banking facility or they may call into our office in Stillorgan during opening hours. There are no transaction fees or charges associated with our savings accounts for members.
Your savings with South Dublin Credit Union are called “Shares”. Each share you hold in South Dublin Credit Union is equal to €1. You will need to hold a minimum saving of ten shares when joining South Dublin Credit Union. Members enjoy equal rights to vote (one member, one vote) and participate in decisions affecting the credit union.
South Dublin Credit Union are not-for-profit so any income generated by us is returned to members in the form of a dividend, or may be used to improve, enhance and expand our services.
You may withdraw your savings from your account at any time unless your savings are pledged against a loan, we do however encourage you when taking out a loan, to hold on to your savings, to ensure you will still receive your dividend, and where eligible benefit from our free life savings insurance.
Members can sustainably access a statement of their savings account free of charge 24/7 via the online banking facility on this website or at any time request a copy from us.
The maximum savings that can be held by an individual member in South Dublin Credit Union is €100,000. There is no maximum limit to the monthly amount you can save below this limit.
Benefits of Credit Union savings
- Easy access to your money once it is not used as security against a loan
- No hidden charges or fees on any transactions
- Life savings insurance for eligible members (Terms & Conditions apply)
- Nomination of account proceeds
- 24/7 access via the online banking facility
Deposit Guarantee Scheme
Your savings with South Dublin Credit Union are protected and 100% secure and are covered by the Deposit Guarantee Scheme. The Central Bank of Ireland is responsible for administering the Irish Deposit Guarantee Scheme which is funded by the credit institutions covered by the scheme. It provides protection to eligible depositors up to €100,000 in the event of a credit institution being unable to pay deposits.
For further information on this scheme please click here.
Nomination of your Credit Union Account
If you are a South Dublin Credit Union member, 16 years of age or over, and you have savings with us, you can nominate someone to receive the property of your credit union account (up to certain limits) upon your death.
For further details on this unique facility offered by credit unions to their members please click here.
Not a Member yet?
If you would like to save with us but you are not yet a member of South Dublin Credit Union please click here for details of how to join us online or drop in to our branch in Stillorgan.
Junior Savings Accounts
Opening a children’s saving account is the most effective way to teach your children aged 16 and under, money management and budgeting skills so they can make smart choices with their money in the future.
For details on our Junior Savings Accounts please click here.
Any Questions?
If you have any questions about Savings with South Dublin Credit Union, please contact us online here, call us on
01 288 4877 or drop in to our office in Stillorgan.
In a credit union, member savings are held in the form of shares. Each €1 saved is equal to one single share. We encourage members to save on a regular basis. Even small amounts saved regularly will grow over time.
Member shares are fully accessible and can be withdrawn or transferred at any time (unless pledged against a loan – details of this are in the section on loans).
This is a Life Insurance Policy that South Dublin Credit Union has in place for all eligible members as an additional benefit for those who maintain savings with the credit union. Certain age and health criteria apply.
The maximum savings that can be held by an individual member in South Dublin Credit Union is €100,000.
This is a unique facility for credit union members. Credit unions have a nomination facility whereby if you are over 16 years of age, you can nominate someone to receive the property of your credit union accounts upon your death. This is of benefit if the member dies without leaving a will as the property left in the credit union will not have to pass through the sometimes timely intestacy process.
You may nominate a person(s) of choice to receive your property presently up to a maximum value of €23,000 in Republic of Ireland Any amount in excess of €23,000 will form part of your estate.
You may change the details of your nomination as often as you like. A completed nomination must be signed and witnessed. Ask in the office and a staff member will help you complete the relevant form and witness your signature. The most recent nomination is the valid nomination.
A nomination is not revocable or variable by the terms of your will or by a codicil to your will.
The nominated property does not form part of a deceased person’s estate.
A nomination is automatically revoked when your nominee dies before you. In this case, you should consider completing a new nomination. If you do not, your property in the credit union may form part of your estate.
Where your personal circumstances change (e.g. marriage, divorce or separation) you should review your nomination at that time.
A nomination is automatically revoked by your subsequent marriage.
