Benefits of saving with PCU
Peace of mind that your savings are secure. Online and mobile account access
No hidden charges or transaction fees
Competitive return on savings (dividends)
Easy access to savings with withdrawals, unless savings are pledged against a loan
Life Savings Insurance, for eligible members
Supporting the local community to support families, build business and enhance the community
Types of PCU Accounts
Share Accounts
When you open a Share Account to save with the Credit Union, you become a part owner of our successful financial co-operative. A minimum of €10 shares is required at all times to retain membership.
As a member you have a say in the operation of the credit union and you may earn dividends on your shares. Please note that dividends paid to members need to be approved at our Annual General Meeting and are subject to DIRT.
Smart Saver Account
If you find it too easy to access your savings, our new Smart Saver Account may be for you. This non-interest-bearing account provides you a saving facility with no online access.
Christmas Savings Account
Saving for that time of the year? This non-interest-bearing account keeps your savings separate when you are saving for Christmas or other specific times of the year.
Withdrawals can be made in cash, cheque or Electronic Fund Transfer, direct to your bank account. Cash withdrawals are subject to terms and conditions. The maximum daily online withdrawal is €20,000.
- Progressive Credit Union Limited is regulated by Central Bank of Ireland
- Savings up to €100,000 per member are covered by the Deposit Guarantee Scheme
- All officials of Credit Unions, whether volunteers or staff, must be fidelity bonded.
- Members' savings within certain limits are insured through Life Savings Insurance.
- Full financial statements are prepared, audited and distributed to all members
What is a nomination?
A nomination is a legally binding, written instruction that tells the Credit Union what to do with your property after your death. Property includes shares, deposits, loans and insurance proceeds.
Who can I nominate?
A Member, who must be over 16 years of age, can nominate anyone, family, friend or a group of people. Where one person is nominated, that person will be the sole beneficiary of your Credit Union property subject to the maximum permitted by law (currently €23,000). Anything in excess will not be released until we have been furnished with a Grant of Probate.
Can I change my nomination?
Yes, by filling in a new nomination form. A nomination becomes invalid if the member gets married or the person that has been nominated dies. It is a good idea therefore to review the nomination from time to time, in order to ensure that the person/s nominated is/are the most appropriate.
Factors that effect a nomination
Death of the nominee (prior to that of the nominator) automatically revokes that nomination, so a new nomination should be completed at that time. The marriage of a member after completing a nomination automatically revokes that nomination, so a new nomination will be required at that time also. Divorce or legal separation will not revoke a nomination.
Please note that a nomination will supersede a member's will and is not revocable or variable by it or any codicil to it.
Where do I get a nomination form?
You can obtain a nomination form in any of our offices.
