Membership
Nominations
Don't forget to fill in or update your nomination card.
A nomination is an instruction you fill in which informs the Credit Union of your wishes and who to contact with regard to your shares in the event of your death. When a member joins the Credit Union they are asked to complete a nomination form, or if you have completed one it is important that you update it regularly to ensure that it reflects any change in the members status.
The original nomination becomes invalid once the members gets married, so it is important that this form is updated after a member gets married.
The person or persons nominated can receive the funds without any problems and there is no need for probate. There is a maximum limit of €23,000.00 that can now be passed to a nominee in this way. The balance if any goes into the estate.
Please feel free to ask any of our staff if you have further questions about the nomination process.