SAVINGS  
 

Members are offered a variety of Quality Savings Options.

  • Our Ordinary Share Accounts have consistently performed favourably when compared with all other Main Street, On-Demand Savings accounts for the past several years.
  • Our Deposit Accounts (Savings 1, Savings 2, etc) have performed in a similar manner.

DEPOSIT GUARANTEE SCHEME.

Credit Unions in the Republic of Ireland are covered by the Government’s statutory Deposit Guarantee Scheme which is administered by the Financial Regulator. This scheme provides a guarantee of up to €100,000 per depositor per institution. This guarantee level applies to deposits held with banks; building societies; and credit unions.

The Deposit Guarantee Scheme covers:

  • current accounts;
  • demand deposit accounts;
  • term deposit accounts;
  • share accounts and deposit accounts with building societies; and
  • share accounts and deposit accounts with credit unions.

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 ILCU-affiliated credit union which may experience difficulties.

We urge members to SAVE A LITTLE, REGULARLY, and to

BORROW RATHER THAN WITHDRAW YOUR SAVINGS.

FREE-TO-MEMBERS BENEFITS OF SAVINGS

Members obtain better than excellent value for money from our Free-to Members Life Savings Insurance

EASE OF SAVINGS

Payment is easiest when done regularly – weekly, fortnightly, monthly or quarterly.

You can combine Savings and Loan Repayments in the one transaction if you wish.

You may pay:

  • Over the Counter, six Days A week,
  • Through our Express Lodgement Facility,
  • Through Payroll Deduction from participating Employers,
  • Through your Bank by Standing Order or Direct Debit.

Ask our Staff to-day or You can request us to post out a standing order or direct debit mandate form to you

.

Through Your Bank by Direct Debit – Ask our Staff to-day or

Request that a Direct Debit Form be mailed out to you by clicking: Request Direct Debit Form

SAVINGS CALCULATOR

This calculator will enable you to estimate how much you will have to save regularly to meet a particular savings goal or target, including possibly maximising your Life Savings Insurance Cover, saving sor education and saving for retirement. Saving Calculator

TAXATION OF DIVIDEND ON SHARES AND INTEREST ON DEPOSITS

Members have a variety of Savings options in Cashel Credit Union Limited. These options enable members to optimize their interest earned and to satisfy their D.I.R.T. taxation obligations where they exist. D.I.R.T. , is a tax on the interest paid to liable individuals, that is collected by financial institutions and returned to the Revenue Commissioners.

Members are advised to seek professional advice from a qualified taxation advisor. You can read more on this topic here

CHANGING THE TAXATION DESIGNATION OF YOUR ACCOUNT

If a member wishes to advise Cashel Credit Union Limited to change the D.I.R.T. designation of their account, they should do so in writing and on the appropriately completed, signed and returned