Life Savings Insurance
With life savings insurance your dependants will receive a financial sum in the event of your death, up to a maximum amount of €5,000 per member. The amount they receive will depend on your age and how much you have saved with your credit union over the years.
Life savings insurance is paid for by your credit union. There is no additional cost to you. This is subject to certain terms and conditions; for example eligibility only applies to those who joined the credit union prior to their 70th birthday.
Life savings insurance is paid for by your credit union. There is no additional cost to you. This is subject to certain terms and conditions; for example eligibility only applies to those who joined the credit union prior to their 70th birthday.
Provided the member meets eligibility conditions savings up to €5,000 are insured in the following way, provided that those savings are not subsequently withdrawn:
Saving Lodged up to
54
Years of Age
Increased by
100%
Saving Lodged between
55 & 59
Years of Age
Increased by
75%
Saving Lodged between
60 & 64
Years of Age
Increased by
50%
Saving Lodged between
65 & 69
Years of Age
Increased by
25%
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Retirement
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Results of the Ballina Credit Union December 2018 Members Car/Cash Draw