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SAVINGS

Deposit Guarantee Scheme – Depositor Information Sheet trinity-cu-depositor-information-sheet

Savings as shares in a Credit Union are a better way to save. You are not just another customer but an active member of a highly successful financial co-operative.
Yes, you have a share in the ownership of the Credit Union. Along with having a say in the operation of the Credit Union you can also earn dividends.

Benefits of Credit Union Savings

Free life cover on saving up to € 13,000 (subject to terms and conditions).
A savings protection scheme is in place to the benefit of the member up to €12,700, there are no transaction charges or fees.

For small to medium savers your Credit Union is where you belong.

Benefits of Credit Union Savings
◾Savings balances over and above any loan you may have are available to you to withdraw on demand.
◾There are no transaction charges or fees.
◾Covered up to €100,000 under the Deposit Guarantee Scheme.
◾A separate Savings Protection Scheme is in place to protect the credit union

For small to medium savers your Credit Union is where you belong.

DIRT (Deposit Interest Retention Tax)
◾All relevant dividends and interest earned in accounts in the credit union are subject to DIRT tax at the prevailing rate
◾There are a number of exemptions allowed for by law
For Details on DIRT Exemption refer to http://www.revenue.ie/en/tax/dirt/leaflets/de1.html

Security

Security of Savings

Credit union members can rest easy in the assurance that their savings are safe. Credit Unions in Ireland, which are affiliated to the Irish League of Credit Unions, are secured in several ways:

◾All officials of credit unions, whether volunteers or staff, must be fidelity bonded.
Savings are covered up to a maximum of €100,000 under the Deposit Guarantee Scheme.  Click http://www.depositguarantee.ie/en/home for more details.
The maximum amount of shares any individual may have in this credit union is €100,000.
◾Trinity Credit Union participates in the Irish League of Credit Unions Savings Protection Scheme.
◾Members savings within certain limits are insured through Life Savings Insurance.
◾All monies received in the credit union are properly recorded and lodged regularly.
◾Full financial statements are prepared and can be examined by members.
◾Annual independently audited returns are submitted to The Central Bank of Ireland.
Trinity Credit Union Ltd. is regulated by The Central Bank of Ireland