Savings in your credit union are called shares. Each share you hold is equal to 1.00. You must have a minimum of 5.00 in your shares to be a member. As well as having a say in the operation of your Credit Union you also earn an annual dividend on your shares. The amount paid is in direct proportion to the number of shares held over the financial year. The dividend rate is determined by the amount of surplus funds the credit union holds at the end of each financial year and must be approved by members at AGM. Unless you are exempt, the dividend is liable for DIRT (Deposit Interest Retention Tax), at the prevailing rate and is deducted at source.
A dividend rate of 1% was paid for the financial year ended 30th September 2015.
Open a Special Share Account and save using a variety of payment methods including:
- Salary/Pension Deduction
- Direct Debit
- Online Transfers
- Cheque or Cash