Nomination Form Update March 2024

IMPORTANT INFORMATION*

All members are encouraged to complete a Nomination of Beneficiary Form. Nomination forms allows the member to specify the person or persons that they wish their funds held in our Credit Union to be transferred to, in the event of their death.

See below information on nominations:

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 has been increased from €23,000 to €27,000 with effect from the 22nd February 2024. 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. Your Nomination form must be witnessed by two people
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 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.

Ph: 01-8351177

Email: info@ashbournecu.ie