Savings at Blackrock Credit Union Limited
Saving with us at Blackrock Credit Union will be is one of the best choices you can make.
Whether you are saving for something in particular, have a lump sum to put away, or just want to build an ‘emergency fund’ to give yourself a little peace of mind, we can help. We’ll put together a savings plan that’s easily managed and that works for you.
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By saving with us, you’re not just another customer, but an active member of a financial co-operative, which provides security and protection for your savings.
You may save through a standing order instruction to your bank, by EFT for extra convenience, or simply call into the office anytime. Your shares will build up quickly, and at the end of the financial year, each member is entitled to a dividend, based upon the number of shares held. You may withdraw your savings at any time, although we encourage you to take a loan, and keep your savings intact, to ensure you will still receive your dividend, and benefit from loan eligibility and life insurance.
Members of the Credit Union come together to save on a regular, secure basis, and from this fund, to provide loans to each other. A variable dividend is paid to every member once a year.
All of the savings of the Credit Union members are guaranteed, up to a maximum of €100,000 under the Government Deposit Guarantee Scheme.
Blackrock Credit Union provides life assurance based on member shares balances* at no additional cost which applies as follows:
- From open account to Age 55 – 100%
- Age 55-59 – 75%
- Age 60-64 – 50%
- Age 65-70 – 25%
- Age Over 70 – 0%
Once earned, your insurance remains in force as long as you leave your shares in your Credit Union. Withdrawals may affect the amount payable.
*Deposit Balances are not covered by the life assurance.