In addition to your share account you can also open a separate savings account known as a deposit account
Benefits
Lodgements and withdrawals can be made from this account at any time, as they are not held against a loan. There are:
- No Penalties
- No Charges
How to open a Deposit Account
To open a deposit account you must already have an account with us and proof of your PPS number will be required at time of opening.
Interest
Interest is applied monthly to your deposit account. DIRT is automatically deducted before interest is applied to the account.
Current deposit account interest rate 2021: 0%
Please note: the interest rate on deposit accounts can be changed by the Board of Directors at any time.
Limit on Savings per Credit Union Account
Due to the capital levels required by the Central Bank, we can no longer accept savings greater than €20,000.
If you are affected by this, please speak to a member of staff.
Restrictions on Transactions
Lodgements
For security reasons, lodgements per Member, are restricted to:
- €2,500 per week*
Withdrawals
Withdrawals in cash, per Member, are restricted to:
- €1,500 per day
- €7,500 per week*
Cash withdrawals of more than €1,500 per day can be facilitated but must be ordered a minimum of 24 hours in advance. The maximum of €7,500 per week* still applies in this case.
* per week means a 7 day period.