• A nomination must be in writing. You may obtain a nomination form from any of our offices.
• The statutory maximum amount that will be paid out under a nomination is currently €27,000 as of 22^nd February 2024. Any amount in excess of this balance will form part of your estate.
• You can make a nomination to any one and you can nominate more than one person.
• If you elect not to complete a nomination, the proceeds of your account will form part of your estate on your death and will be dealt with under the terms of your will, or if you have made no will, under the rules of intestacy or under the small payments provision (see below).
• You may revoke or vary your nomination at any time by completing a new nomination form.
• A nomination is not revocable or variable by the terms of your will or by a codicil to your will.
• A nomination is automatically revoked when your nominee dies before you. In this case, you should consider completing a new nomination. If you do not, your property in the credit union will form part of your estate.
• A nomination is automatically revoked by your subsequent marriage. Note Divorce or legal separation will not revoke a nomination.
• Where your personal circumstances change (e.g. marriage, divorce or separation) you should review your nomination at that time.
• The nominated savings do not form part of a deceased person’s estate.
• A person under 16 years of age cannot make a valid nomination.
• You cannot make a Nomination on a Joint account as monies in a joint account automatically pass to the other party.

Nomination Amount:  The Nomination amount was increased from €23,000 to €27,000 by Statutory Instrument on 22nd February 2024.  The original nomination amount of €23,000 will still apply where the Member has died before 22nd February 2024.

If you get married, any nominations held will be automatically revoked and would need to be re-done. We also suggest that Nominations should be reviewed if you have recently divorced or separated (Nominations are not automatically revoked by a divorce or separation) or where a Nominee has pre-deceased you.