Enniscorthy Credit Union Limited

"Why is saving with a credit union better?"

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. You are not just another customer but an active member of a highly successful financial co-operative. Yes, you have a share in the ownership of the Credit Union. Along with having a say in the operation of the Credit Union you may also earn dividends.

 "Can I have easy access to my savings?"

You can withdraw your savings provided they are not pledged as security on a loan.  However your are encouraged to keep your savings intact, so that:

• They continue to earn a dividend.
• They continue to benefit from the Life Savings Insurance protection.

Our staff will be happy to talk to you about suitable alternatives to withdrawing your savings.

Types of Share Accounts Available

Regular Share Accounts

These accounts are suitable for those who are not liable for income tax or prefer to look after their own tax affairs.
The onus is on the member to declare this account to the Revenue Commissioners.
Dividend rate declared at A.G.M. is posted gross to members accounts.

Special Share Accounts

Dividends are paid to this account net of DIRT.
A member can hold a regular or special share account but not both

Medium Term Share Accounts - 3 Years

A declaration must be signed by the member to open a Special Term Account.
The first €480 dividend is tax free
Where dividends are paid in excess of €480 DIRT is paid at a rate of 25%.
A list of accounts (names and addresses) opened in the year must be sent to the Revenue Commissioners
A once-off lodgement only may be made to this account (terms and conditions apply)
Members holding a 3-year Term Account can convert it to a 5-year Term Account once their 3 year Term account matures but it is not permissible to convert an account from 5 years to 3 years.

Long Term Share Accounts - 5 Years

A declaration must be signed by the member to open a Special Term Account.
The first €635 dividend is tax free
Where dividends are paid in excess of €635 DIRT is paid at a rate of 25%.
A list of accounts (names and addresses) opened in the year must be sent to the Revenue Commissioners
A once-off lodgement only may be made to this account (terms and conditions apply).
Members holding a 3-year Term Account can convert it to a 5-year Term Account once their 3 year Term account matures but it is not permissible to convert your account from 5 years to 3 years.

Other types of accounts available

Joint Accounts, Juvenile Accounts and Accounts for Clubs ans Societies.