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Becoming a member
Membership of Derrygonnelly Credit Union is open to anyone who lives or works in the area (the common bond area).
The Common Bond
Joining a credit union is easy once you are within the common bond of the credit union.
To become a member it is necessary to complete a membership application form, which can be completed at the Credit Union office. The new member enters his/her own details and signs the application form.
The Law prohibits the Credit Union from opening an account for a new member unless satisfactory proof of identity and appropriate address verification documents are produced (See list below).
PROOF OF IDENTITY:
Under the Money Laundering Act, we are obliged to have proof of identity. Normally this consists of a passport or driving licence to show that you are who you say you are plus a household bill to show that you live at your address.
To establish identity (must include a photograph):- CURRENT DRIVING LICENCE
- VALID PASSPORT
- ELECTORAL IDENTITY CARD
- SENIOR CITIZEN SMARTPASS
For address verification (must be dated within the last three months):- UTILITY BILL
- BANK / BUILDING SOCIETY / CREDIT CARD STATEMENT
- OFFICIAL DOCUMENT FROM A GOVERNMENT BODY
- BIRTH CERTIFICATE (MINORS)
When the application has been approved by the Board or Membership Officer and an entrance fee of £1.00 paid, the new member may then open the account. The minimum amount to keep an account open is £5.00
All members are encouraged to complete a Nomination Of Beneficiary Form. Click here to find out more.
Junior Membership (0 – 16 years)
A Junior member can be introduced by a parent/guardian. Bring the completed application form signed by parent/guardian along with a Birth Certificate and proof of parental address (dated within three months).
Benefits of Membership
Flexible and Convenient Loans
We have several loan products and members can apply for loans as soon as they join. Most of our loans are fully insured (for free),
Dividend on Savings
Every year we pay an attractive dividend to members based on the amount that is saved with us (dividends are paid at the discretion of the Board).
Free Life Insurance
Saving also entitles members to be placed in our free Life Insurance scheme (some conditions apply, please ask if you require more information).
Loan Interest Rebate
Each year we refund some of the interest charged on members' loans (known as a Loan Interest Rebate), just in time to help with Christmas shopping.
Quality Service, No Fees
You can be assured of a professional service from Derrygonnelly Credit Union at all times. And there are no fees for any of our services.
Pay by Standing Order
Arrange to pay by Standing Order from your bank and be sure of regular payments to your Credit Union account. You can request a statement free of charge anytime. Ask any staff member for more details about joining the Credit Union, or for further information explore the different sections of this web site.
Nominations
Did You Know?- As a Credit Union member (aged over 16 years), you can nominate a person(s) to receive the proceeds of your account up to a maximum of £20,000 on your death (any excess of this amount will fall to your estate).
- Your nomination falls outside of your will so the proceeds will not be subject to a lengthy probate process and may be paid directly to your nominee(s).
- You may change your nomination whenever you like. You may do so by completing a nomination form in your credit union.
- The option to make a nomination is exclusive to credit unions, you cannot avail of this option in your bank.
Points To Note- Have you married/entered a civil partnership or divorced since completing your nomination? If so, that nomination is no longer valid. But: if you have separated from a nominated spouse, your nomination DOES NOT cease.
- If your nominee(s) dies in your lifetime your nomination is automatically revoked and you may wish to update it accordingly.
- Making a new nomination will revoke any previous nomination(s).
- If your personal circumstances have changed, and you are concerned about your nomination, you should speak to an employee in your local Credit Union.
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