Savings Information

What return will I get on my credit union savings?

Every share you hold with your credit union for the year is eligible for a dividend when declared. A dividend is the return on your shares and it is paid by your credit union out of surplus.*

*Past performance is not a reliable guide to future performance.

The amount of your dividend will depend on:

  • The amount of shares you have saved (one share is equal to €1).
  • The surplus income available for distribution by your credit union to members.

Only members of your credit union receive a dividend from your credit union. The amount of dividend paid to members varies from one credit union to another.

Can I have easy access to my savings?

You can withdraw your savings provided they are not pledged as security on a loan. However, you are encouraged to keep your savings intact, so that:

  • They continue to earn a dividend.
  • They continue to benefit from the Life Savings Insurance protection.

Cois Sionna Credit Union will be happy to talk to you about suitable alternatives to withdrawing your savings.

Can anybody save with the credit union?

Members of a credit union are united by a common bond. This is a characteristic that every member has in common (for example, it might be where you live or where you work).

Anyone within the common bond is eligible to apply for membership, and start saving as soon as they are admitted. So, whatever you’re saving for – a car, home improvements, a big day, holiday, school or college fees, your place will give you a fair deal.