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Tel: 026 41689 Fax: 026 42697

Fri 18-Aug-2017
Services Savings


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 also earn dividends.

Whether you are saving for something in the future, or just for a rainy day, it is a good idea to save some money on a regular basis.  Regular saving is a fantastic way to approach personal finance.

You will need to hold a minimum savings of ten shares (€10.00) to keep your account activated. Members enjoy equal rights to vote (one member, one vote) and can participate in decisions affecting the credit union.

Benefits of Credit Union savings

  • Savings balances over and above any loan you may have are available to you to withdraw on demand.
  • High dividends for savings available on demand, you will not get a higher return at the same level of risk.
  • Free life cover on saving up to € 7,700. Check our our insurance page for more information.
  • There are no transaction charges or fees.

Some other information.....

  • A specific share balance is not required in order to qualify for a loan, and the loan you can be granted is not based on the amount that you have saved with us.
  • All members shares are covered the Government Protection Scheme up to a value of €100,000, which means that you can have peace of mind that your savings are fully secure.
  • You can deposit savings (or pay loans) using you credit/debit card.
  • Statements are sent out annually to every member along with notification of our AGM. Additional statements can be ordered by phone, at the counter, by email, or via our online banking.

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

Macroom Credit Union currently offers one account type:

Special Share Account

  • Monies are withdrawal on demand where not used as security for a loan. If you are using monies as security for a loan, we can provide you with a separate savings account to lodge and withdraw from.
  • Dividend paid to member net of DIRT, so you do not have to anything.
  • Member can hold multiple savings accounts if you wish to save for separate occasions.

Are My Savings Secure?

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.
  • Funds in your account up to €100,000 are guaranteed under the Government Deposit Guarantee Scheme - see attached link for full details Click to DownloadDownload Deposit Guarantee Scheme (300.8kb)  
  • 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 audited independently, and can be examined by members.
  • Annual independently audited returns are lodged with the relevant authority, The Central Bank of Ireland.
Find Us here:
  • Macroom Credit Union
  • Tel: 026 41689
  • Fax: 026 42697
  • Email:
  • Web:
Regulated by the Central Bank of Ireland. Reg. No. 299CU