Each €1 saved is the equivalent of a single share. Shares build up surprisingly quickly once a member sets up a regular savings pattern. Each share then is eligible for a dividend (interest) at the end of the year. The more savings held by the credit union, the more funds available for loans to members.

Saving money is a good idea. By putting a little aside on a regular basis you not only have something to look forward to, you also have something to fall back on, should the need arise.

Saving money with Swinford & District Credit Union is an even better 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, along with an annual dividend. You must have €10.00 in your share account to be a member of the credit union and avail of all the facilities afforded to members.

When you save with us you are also building a history which will be taken into account in the future should you wish to apply for a loan.

The money you save with us is used by the credit union to fund the loans it makes to members. By saving with us you are indirectly helping your neighbours and the community to develop.

Benefits of Savings
• Annual dividend paid on your savings at the end of the year
• Members savings are insured at no direct cost through the Credit Union Life Savings Insurance (Maximum €12,700 – Terms & Conditions apply)
• Easy access to your savings if you wish to make a withdrawal (once not pledged against loans)
• No hidden charges or fees on any transactions
• All savings of up to €100,000 are State Guaranteed and, In addition to this, the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions is also available to proactively intervene to protect members’ savings by making available financial assistance to help any credit union which may experience difficulties.

Can I have easy access to my savings?

You can withdraw your savings provided they are not pledged as security on a loan. However, you are encouraged to keep your savings intact, so that:

  • They continue to earn a dividend.
  • They continue to benefit from the Life Savings Insurance protection.