Savings

Save With Your Credit Union

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.

Why Save with Clonakilty & Dunmanway Credit Union?

At your credit union, you’re not just a customer, you’re a member of a successful financial co-operative

Your savings do make a difference to you and Clonakilty & Dunmanway Credit Union

Your savings form the common pool of funds that allow members to borrow

Your savings are insured and guaranteed

Your savings are eligible for a Dividend

Your savings provide you with financial independence

Your savings provide you with a loan, should you wish to borrow

Are my savings secure?

Credit Unions in the Republic of Ireland are covered by the Deposit Guarantee Scheme which is administered by the Central Bank of Ireland up to a maximum of €100,000. More information on the Deposit Guarantee Scheme can be found here.

In addition to this, the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions is also available to proactively intervene to protect members’ savings by making available financial assistance to help any credit union which may experience difficulties.

Also, members’ savings are insured through Life Savings Insurance (subject to certain terms and conditions). For more details, visit the Insurance section.

Ways to Save

With Clonakilty & Dunmanway Credit Union you have a number of ways to lodge funds to Savings:

  • Call in to our Office during opening hours.
  • Make payments to your credit union account via your bank account. Click here on how to set this up.
  • Make payments to your credit union account using your visa debit card in our office and over the phone.

Not a Member?

Joining Clonakilty & Dunmanway Credit Union is the best decision you will make for you and your money. Our members benefit from the lowest lending rates in the community, no transaction charges, no fees and friendly staff available to talk to you in person or over the phone about your financial needs.

FAQs

  • Your savings do make a difference to you and Clonakilty & Dunmanway Credit Union
  • Your savings form the common pool of funds that allow members to borrow
  • Your savings are insured and guaranteed
  • Your savings are eligible for a Dividend
  • Your savings provide you with financial independence
  • Your savings provide you with a loan, should you wish to borrow

With Clonakilty & Dumanway Credit Union you have a number of ways to lodge funds to Savings:

  • Call in to our Office during opening hours.
  • Make payments to your credit union account via your bank account.
  • Make payments to your credit union account using your visa debit card in our office and over the phone.

Credit Unions in the Republic of Ireland are covered by the Deposit Guarantee Scheme which is administered by the Central Bank of Ireland up to a maximum of €100,000.

In addition to this, the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions is also available to proactively intervene to protect members' savings by making available financial assistance to help any credit union which may experience difficulties.

Also, members’ savings are insured through Life Savings Insurance (subject to certain terms and conditions).

The maximum amount a member can have in savings in Clonakilty & Dunmanway Credit Union is €40,000 (for adults) and €20,000 (for juveniles). This limit applies to the member, not the account.

Therefore, if you have more than one account, the balances in all your accounts are aggregated for the purposes of establishing your total savings in the credit union.