Savings, whether they be shares or deposits in a Credit Union can be a better way to save than in a bank. For a start members are more than customers and have a say in running their local Credit Union.

Benefits of saving in a Credit Union

Some of the benefits are:

• Savings balances over and above any loan balance are available to withdraw on demand.
• Free additional savings cover on savings up to € 7,700 (subject to terms and conditions)
• No transaction charges.
• Savings including deposits and shares are currently protected by Deposit Guarantee Scheme and the ILCU Savings Protection Scheme.
  

Types of Share Accounts offered by DCUL

Special Share Accounts

• Interest by way of dividend paid to member net of DIRT annually.
• Access to uncommitted or unpledged balances.
• Savings up €40,000 are considered shares.
  

Deposit ‘A’ Accounts

• Interest paid to member net of DIRT annually.
• Access to uncommitted or unpledged balances.
• Savings over €40,000 are considered deposits up to a combined limit of €100,000.

Christmas Club

• Not liable to interest.
• Complete access – usually at Year End.