Savings
Committed To Your Financial Well Being
Saving on a regular basis makes good sense.
B.C.U. provides you with a secure place to save, with the added benefit of a dividend paid out on your savings at the year-end.
Each €1 saved is the equivalent of a single share. You’d be surprised how quickly shares build up once you set up a regular savings pattern.
As a member of B.C.U., you can rest easy in the assurance that your savings are safe. All officers of B.C.U. (volunteers or staff) are fidelity bonded.
Savings, up to a limit of €12,700 per member are protected by the Savings Protection Scheme.
Share Withdrawals
You may withdraw your shares, provided they are not pledged as security for a loan.
However, as far as possible members are encouraged to keep their savings intact, thus ensuring that:
- The shares continue to earn a dividend
- They continue to benefit from Life Savings Insurance Protection
- The member can maintain their credit worthiness and capacity to borrow
Sammy Savings Stamps
B.C.U has also set up special savings schemes for children. The Sammy Stamp Savings Scheme is now available in participating schools, but it is not just confined to schools. Stamps can also be purchased over the counter in the Credit Union.
D.I.R.T., Dividend and You
As a member of Ballinasloe Credit Union you are required to declare your dividend to the Revenue Commissioners. However there are a number of options available to you to comply with Revenue requirements and/or discharge your liability at source i.e. at the credit union.........
Deposit Guarantee Scheme
Ballinasloe Credit Union is bound by the Deposit Guarantee Scheme.......
