Saving with the Credit Union
Encouraging thrift is an important part of the Credit Union message. Regular saving and sensible borrowing are key elements to remember when it comes to managing your money. Saving regularly gives you financial security, independence and peace of mind.
Savings in a Credit Union are very important for two main reasons:
To help the Member
To help fellow Members
The savings, which each member holds, enables us to advance loans both to them and other members.
All members must hold a Special Share Account with the credit union. Savings in a Share Account are used as collateral for loans.
A CUCash Account is an On-Demand deposit account.
How secure are my savings?
- Credit Union Savers are covered by the 'Government Deposit Guarantee Scheme'. The guarantee applies to 100% of each member savings to a maximum of 100,000 per member
- Credit Unions are regulated by the Central Bank of Ireland
- Clondalkin Credit Union is affiliated to the Irish League of Credit Unions
- The Credit Union issues independently audited financial statements to each member each year