Savings
Savings Accounts
Build financial security with a trusted, member-owned Credit Union.
Savings Accounts with Phoenix Credit Union
Saving regularly is one of the strongest financial habits you can build, and Phoenix Credit Union makes it easier to start and keep going.
Members savings are used to fund loans to other credit-worthy members in the credit union. So that way the money in the credit union always remains in the local community or ‘common bond’ that it serves.
Whether you are putting money aside for peace of mind, future plans or unexpected expenses, your savings remain part of a member-owned financial co-operative focused on supporting local people and communities.
Saving
Why Phoenix Credit Union?
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Easy Access To Your Money
Easy access to your money, once it is not used as security against a loan. -
Protected Savings
Your savings* are covered by the statutory deposit guarantee scheme (DGS). If insolvency should occur, your eligible deposits would be repaid up to €100,000. -
Insurance Benefits
We offer a range of insurance products at no additional cost to you, the member.
Shares
Shares Account
Savings in a Credit Union are very important for two main reasons:
- To help the Member
- To help fellow Members
Firstly, as part of our philosophy of encouraging Members to manage their finances wisely, we recommend that they save something, even a small amount, on a regular basis, as this has the following advantages:
- You will build up a significant balance over time that YOU will own
- You will be able to use this as collateral to access loans on competitive terms.
- Your shares will be held as collateral against your loan
Dormant Account
Dormant Account
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 may be reactivated by conducting transactions and supporting it with photographic I.D.and proof of address (list of acceptable documents can be found here Insert Link) Documents must not be more than 6 months old.
Need a hand with this? Need a hand?
(01) 869 2500