Changes to Nominations
26 September, 2024The Nomination service is unique to Credit Unions and is an efficient way to transfer funds to family members after death. Making a Nomination is very straight forward and we strongly advise all members to do so. To make a Nomination or to check if you have a Nomination, simply call to the Credit Union and our staff will be happy to help. It is also very easy to change a Nomination and this can be done at any time.
On 22nd February, Minister for Finance signed an order which allows for an increase in the amount that can be paid out under a Nomination. The new Statutory Instrument increases the maximum amount from €23,000 to €27,000. This will apply to all Nominations that become payable after this date. The original amount of €23,000 will still apply where the member died before the 22nd February 2024.