Secure Savings

 

Are my savings Secure?

Members can be assured that savings at the Credit Union are secure.

All officials, whether they are volunteers or staff, must be fidelity bonded.

An independent Supervisory Committee is elected at the Annual General Meeting to act as an internal auditor and also to ensure that the Board of Directors comply with the Credit Union Act, 1997 & 2012 as amended  at all times.

An independent auditor, appointed by the members at the Annual General Meeting, audits the annual accounts.

There is a Deposit Guarantee Scheme for Credit Union savings up to a maximum of €100,000.

The Credit Union participates in the Savings Protection Scheme established by the Irish League of Credit Unions. This is a stabilisation fund to help any Credit Unions that may get into difficulty. It also is designed to protect savings, within certain limits.

Annual independently audited returns are lodged with the Central Bank of Ireland.