Savings
Save with Ashbourne Credit Union
Shape Your Financial Wellbeing
Saving with Ashbourne Credit Union isn’t just about putting money aside for the future or unexpected events; it’s about becoming part of a community where your savings contribute to your own financial well-being and also support a community of members.
At Ashbourne Credit Union, saving money is more than just a great lifetime habit; it's not only about watching your money grow but also about showing us that you're preparing for future steps, like taking out a loan. With a solid savings record, you demonstrate your ability to manage money!
Why saving with us is better
Members enjoy many benefits saving with us, including:
While the idea of a ratio of shares to loans is not as relevant as it was in the past, it is still a requirement to have some shares in your account, and more importantly, a history of regular saving
Your shares are covered by insurance, free of charge, in the unfortunate event of your death - the amount depending on your age at becoming a member, and your balances between that date and date of death. Withdrawal of shares after 55th birthday will have a bearing on any insurance payout
Shares may be withdrawn on demand unless they are being held as collateral on a loan
A dividend may be paid to your account annually
The dividend rate is decided by members at AGM each year, on the recommendation of the Board of Directors
Easy access to your money once it is not used as security against a loan
Are there any limits on members Shares?
Yes, we currently have a policy to cap a member's shares at €25,000 per account.
Types of Share Accounts
We operate two types of saving accounts:
Regular Share Accounts / Joint Regular Share Accounts - A Dividend is calculated @ a gross figure (before deduction of deposit interest retention tax (D.I.R.T) and any tax due then is the responsibility of the member.
Deposits - There is also an option to open a deposit account with us at a variable rate of interest. This is a particularly useful option if your shares are held as collateral against your loan and you want to save across 2 accounts / in a separate account for a different reason and you can withdraw your money whenever you need too. A Deposit account can be opened at the counter, at anytime and there is no extra paperwork involved for existing shareholders, providing your ID and Proof of address is up to date as required.
Mobile App
Download our Mobile App to securely check your balances, pay bills or transfer funds.
