Find out how to save with the Credit Union
Savings - New Ross Credit Union Ltd - NRCU

Share Accounts

Saving money with your credit union is a good idea. You are not “just another customer” but an active member of a highly successful financial co-operative, which provides security and protection for your savings.  At the end of each year, most credit unions pay their members a dividend* on their savings.

Once you start saving regularly, your funds build up quickly. Each share saved is eligible for a dividend* at the end of the year. The more savings you have the more dividend* you receive.

By saving regularly you not only help yourself, you also help your community as your savings provide a loan fund for other credit union members.

Withdrawing Your Savings

Members can withdraw their credit union savings provided they are not pledged as security for a loan. However, as far as possible, members are encouraged to keep their savings intact, thus ensuring:

You continue to earn a dividend*.

You continue to benefit from Life Savings Insurance Protection.

Your credit worthiness and capacity to borrow is maintained.

Please Note: Dividend* on shares is calculated by reference to the closing share balance at the end of each day.

Please note: Passbook or Photographic Identification is required for all withdrawals.

Savings Security

The government guarantee scheme covers each individual member’s savings up to €100,000. In addition to this, the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions is also available to pro actively intervene to protect members’ savings by making available financial assistance to help any credit union which may experience difficulties.

*Please note: There is no guarantee that a loan interest rebate or share dividend will be paid in future years.
New Ross Credit Union will not be able to facilitate lodgements exceeding €2000 in any one month commencing the 1st of March 2021. Please note: Maximum share balance per member remains at €30,000.

No Hidden Fees

There are no hidden fees or transaction charges.

Life Savings Insurance Scheme

Members savings (up to certain limits) are insured at no direct cost to the member through the credit union

Competitive Dividend*

Dividend* on shares is calculated by reference to the closing share balance at the end of each day.

Savings Security

The government guarantee scheme covers each individual member’s savings up to €100,000. Members’ savings are also insured through Life Savings Insurance

Easy access

Easy access to your savings if you wish to make a withdrawal (once not pledged against a loan)

Nomination of Account Proceeds

This is unique to Credit Unions; you may nominate a person(s) of choice to receive your property presently up to a maximum value of €23,000.

What are the options?

At present New Ross Credit Union offer share accounts to members. Every member is required to pay tax at their marginal tax rate on dividends* they receive on their accounts. You, the members, can now choose the option(s) that suit you best, which are as follows:
Share Accounts
If you have a Share Account, you are currently required to declare the dividend you receive to the Revenue Commissioners and are liable to pay tax on it at your marginal tax rate of 41%. Under the new proposals you can continue to save in this way.

We Offer Treble Protection For Your Savings

Irish Government’s Deposit Guarantee Scheme: Your individual savings are guaranteed up to €100,000 per account.

Irish League of Credit Union’s savings protection fund: The purpose of this fund is to provide additional support for Credit Unions.

New Ross Credit Union’s own reserve fund.

Remember your savings do make a difference to you and your Credit Union.

If as a member you wish to transfer funds into your account, then the payment should be made as a SEPA payment only. If you are aware that a third party is making a payment into your account, it is advisable that they tell their financial institution that the payment should be made via SEPA.

If a payment is sent in any other way, for example by SWIFT, the payment will be rejected by our processing Bank and the Payer may incur a rejection charge that he/she may be liable for.
The SEPA payment scheme was created to simplify euro transfers between EU member states.

The SEPA scheme consists of the 27 EU Member States plus Iceland, Norway, Liechtenstein, Switzerland, Monaco, the United Kingdom and San Marino.

How to apply for Membership

How To Apply


You can make an appointment by calling us on 051421143 or by coming in to any of our offices.

Online Banking Log In Register
Please note: Passbook or Photographic Identification is required for all withdrawals.

If you would like more information please contact us today.

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