Nomination of your account

Nomination of your account

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.

All members are encouraged to complete a Nomination Form. Nomination forms allow the member to name/nominate the person or persons that they wish their funds held in the Credit Union to be transferred to, in the event of their death. Members can  change the details of their nomination as often as required. 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 must be in writing. You can complete a nomination form in our office.
  • The Statutory maximum amount that can pass under a nomination is currently €23,000. Any amount more than this balance will form part of your estate.
  • If you do not complete a nomination, the proceeds of your account will form part of your estate on your death and will be dealt with under the terms of your will, under the rules of intestacy if you make no will, or under small payment provision.
  • You can revoke or vary your nomination at any time by completing a new nomination form.
  • A nomination is automatically revoked if your nominee dies before you. In this case, you should consider completing a new nomination otherwise your property in the Credit Union will form part of your estate.
  • A nomination is automatically revoked by your subsequent marriage.
  • If your personal circumstances change (e.g., marriage, divorce, or separation) you should review your nomination at that time.
  • The nominated property does not form part of a deceased person’s estate.
  • A person under the age of 16 cannot make a valid nomination.
  • There is no charge for making a nomination.

We ask all members to check if their current nominees are as they intend and if not, please visit our office to update your nomination form. Our staff are happy to answer any questions you may have.

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