Life Savings Insurance

Savings are covered by Life Savings Insurance. A member is eligible for Insurance cover if when saving:

• S/he is under the age of 70 years old, and
• Actively at work, or if not working, in good health.

The amount of Savings Insurance Benefit to which a member is entitled is in proportion to the amount of savings the member has, and depends on the member's age at date of share lodgement:

For every €1.00 you save:

• Under 55 years Provides €1.00 of Insurance
• From age 55 to 59 years inclusive Provides €0.75 of Insurance
• From age 60 to 64 years inclusive Provides €0.50 of Insurance
• From age 65 to 70 years inclusive Provides €0.25 of Insurance

Members savings are not insured over the age of 70.

Once earned, the insurance remains in force as long as you leave your savings in the Credit Union.

Note: Shares may not be withdrawn while being held as security against a loan.