Medium & Long Term Accounts

  • Medium Term Account Duration: 3 yrs.
  • Long Term Account Duration: 5 yrs.
  • Applicants must be an existing account holder.
  • One Lodgement only.
  • Minimum €1,000.
  • Maximum €50,000.
  • Start Date 1/01/2016.
  • Guaranteed interest rate .50% up to 31st December 2016
  • Interest rate set by Board of Directors on an annual basis.
  • The member must be 16 years of age at time of opening the account.
  • The interest earned is calculated and paid quarterly.
  • Interest as a minimum will not fall below the ordinary dividend rate for the previous year.
  • A member can only hold one Term Account.
  • A married couple may have one Term Account each.
  • Once DIRT Tax has been deducted, the member has no further income tax liability on the dividend earned in relation to the Term Deposit Account.
  • The Credit Union is required to submit a list to the Revenue Commissioners in respect of all Term Accounts opened in the preceding tax year.