Save with your Credit Union 

Whether you’re saving for something in the future or just for a ‘rainy day’, regular saving is a good idea. Regular saving with your credit union is an even better idea. At your credit union, you’re not just a customer, you’re a member of a successful financial co-operative.

Our Savings Policy

Your savings with the credit union are called “Shares”. Each share you hold in your credit union is equal to £1stg.

The maximum Shares you are allowed to have in your Account is now £10,000

Savings are insured at no direct cost to eligible members – subject to terms, conditions and eligibility criteria.

When your credit union declares a dividend at the end of its financial year, each share you hold for that year is eligible for a dividend. The more shares you have, the greater the dividend you will receive.

And you have the added bonus of knowing that your savings are being used to make loans to other members. Members just like you.

People are eligble to join Irvinestown Credit Union Limited if they live or work within the bond area. The bond area being the parishes of Devenish and Kilskeery.

Some of the many benefits of saving with Irvinestown Credit Union Ltd:


Easy access to your money once it is not used as security against a loan


No hidden charges or fees on any transactions


Life savings insurance for eligible members at no cost (see more information below)


Nomination of account proceeds (see more information below)


If we accrue a surplus, the credit union may declare a dividend following the end of the financial year. If so, you will get a return on each share you hold. In the meantime, the money you’re saving is being used to provide loans to your fellow members.


You can withdraw money whenever you want -provided the money is not pledged as security on a loan and subject to credit union rules.

Are my savings secure?

In Northern Ireland, eligible deposits held in banks, building societies and credit unions are covered by the Financial Services Compensation Scheme (FSCS). If a covered deposit is unavailable because a bank, building society or credit union is unable to meet its financial obligations, depositors are repaid by the FSCS. This repayment covers a maximum of £85,000 per bank, building society or credit union. This means that all eligible deposits at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with £80,000 and a current account with £20,000, he or she will only be repaid £85,000.

More information on this scheme can be obtained at In addition to this, the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions is also available to proactively intervene to protect members’ savings by making available financial assistance to help any credit union which may experience difficulties.


Built in Life Savings Insurance

Eligible members’ savings are covered by Life Savings Insurance at no direct cost to you. Life Savings insurance is the life insurance cover your credit union takes out for all eligible members as an additional incentive to save regularly and maintain savings with the credit union. The insurance amount is paid, in the event of your death, in addition to the amount of savings held in the credit union and will depend on your age and how much you have saved with your credit union over the years. Withdrawals may affect the amount of insurance payable.

Nomination of your accounts

This is a unique facility for credit union members. Credit unions have a nomination facility whereby if you are over 16 years of age you can nominate who is to receive the property of your accounts with the credit union upon your death.

So Why Not

Become a Member

Please contact us by phone, email or calling into the office if you have any queries, wish to become a member or have a loan enquiry which we can assist you with.