When you become a Member of Core Credit Union the first account you open is a Share account. Every €1 you save is equal to one share in Core Credit Union.
This means you are a part owner of the Credit Union with equal rights to vote and participate in decisions affecting the Credit Union.
Core Credit Union is owned by Members who save with it and borrow from it.
It’s the money that Members save that provides the money to lend to other Members.
By saving regularly into a Share account, you not only help yourself, you also help your community.
Members can withdraw shares at any point, provided they are not pledged as security for a loan.
Members are encouraged to keep their shares intact to earn a dividend and to enhance their credit worthiness and capacity to borrow.
Share accounts benefit from:
- Access to loans which are tailored to meet your needs, and structure around your ability to repay.
- Access to savings on demand if they are not pledges against a loan.
- Dividends if declared.
- Deposit guarantee scheme
- Online accounts
- Smartphone app
- Direct Debit payments
- Credit transfers and lots more…
The maximum combined balance allowed per Member in Core Credit Union is €20,000. Your combined balance is calculated by deducting any loan balance you might have with Core Credit Union from your total deposits in Core Credit Union. Total deposits are made up of your Shares, Stamps and Current Account balances added together. Click Here for More Information..