Savings
Turn Small Savings into Big Possibilities.
At Leighlin Credit Union, saving isn’t just safe — it’s smart. Whether you’re building an emergency fund, planning for a big purchase, or simply putting something aside for a rainy day, we’re here to help you reach your goals. As a not-for-profit financial co-operative, we put you first — not shareholders.
Many benefits of saving with us
- Easy access to your money once it is not used as security against a loan
- No hidden charges or fees on any transactions
- Life savings insurance for eligible members
- Nomination of account proceeds (see more information below)
How It Works
Opening an Account:
Join online or in-branch with a valid ID and proof of address.
Lodging Money:
Save in-branch, set up a standing order, or use online/mobile banking.
The Benefits of Regular Saving
- Builds good financial habits
- Prepares you for unexpected expenses
- Helps you achieve personal goals
- Creates long-term financial security
Frequently Asked Questions
You can save up to €100,000 as an individual member.
We pay a dividend annually, based on the credit union’s surplus and your savings.
Yes. All savings up to €100,000 are protected by the Deposit Guarantee Scheme.
Yes, we offer minor accounts for those under 16 with parental/guardian consent.
Credit Unions in the Republic of Ireland are covered up to €100,000 by the Government Deposit Protection Scheme which is administered by the Central Bank of Ireland. This is a scheme that can provide compensation to depositors if a credit institution is forced to go out of business. It covers deposits held with banks, building societies, and credit unions. Please see the Central Bank of Ireland’s website for further information.
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.
Also, members savings are insured through Life Savings Insurance (subject to certain terms and conditions). For more details, visit the Insurance section.
Every share you hold with Leighlin Credit Union Limited for the year is eligible for a dividend when declared. A dividend is the return on your shares and it is paid by your credit union out of surplus.*
*Past performance is not a reliable guide to future returns.
The amount of your dividend will depend on:
The amount of shares you have saved (one share is equal to €1)
The surplus income available for distribution by your credit union to members.
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. (Terms & Conditions apply)
Under Credit Union Rule 22 (now amended to Rule 19) if your account becomes inactive for 3 years and we are unable to contact you within that period it may become a dormant account. It is in your own interest to keep it active by conducting regular transaction.
The account maybe reactivated by conducting transactions and supporting it with photographic I.D. e.g. passport/drivers licence/birth certificate for children and confirmation of address (not more than 3 months old) e.g. utility bill/revenue documentation.
Managing Your Money
Individuals and families are feeling the impact of national austerity measures and as a result the amount of income left after paying for essential items is decreasing. Click Here to learn more
