Find out how to save with the Credit Union
Savings - Monaghan Credit Union Ltd

Share Accounts

Saving on a regular basis makes good sense, whether you’re saving for something in the future or just for a ‘rainy day’. When you save, you not only help yourself, you also help your community as your savings provide a loan fund for other Credit Union members.

The Credit Union is committed to your financial well-being so as a member you can rest easy in the assurance that your savings are safe. A Credit Union savings account comes with a free Life Savings Insurance Scheme. This is the insurance cover a Credit Union provides for members, as an additional incentive for them to save regularly.


Credit Unions in Ireland affiliated to the Irish League of Credit Unions (ILCU) are secured in several ways:

  • All officials of Credit Unions whether volunteers or staff are fidelity bonded.
  • Members are guaranteed up to €100,000 under the Deposit Guarantee Scheme and savings are protected by the Irish League of Credit Unions Savings Protection Scheme.
  • Members savings (subject to certain limits) are insured through Life Savings Insurance.
  • Full financial statements are available on request.
  • Annual independently audited returns are lodged with the relevant authority, The Central Bank of Ireland.


Cash Orders

  • Withdrawal daily demand is €1,000.00
  • Any amount in excess of €1,000 can be ordered a minimum of 2 days in advance.
  • €5,000 maximum cash withdrawal permitted per week.


Uncommitted savings are available 24/7 with CU Online+.


Maximum Savings Per Member

From September 2022, maximum savings per member is €25,000.

Terms & Conditions apply.


If you’re not a member already, why not think about joining today?

No Hidden Fees

There are no hidden fees or transaction charges.

Easy Access to Your Money

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

Nomination of Account

This is unique to Credit Unions, see below for more information.

Online and mobile account access

24/7 access your account online.

Supporting the local community

We are committed to supporting and developing our local community.

This is a unique facility for credit union members whereby if you are over 16 years of age, you can nominate someone to receive the property of your CU accounts following your death.

All members are encouraged to complete a Nomination of Beneficiary Form, although it is not compulsory.

- A nomination can only be made in respect of a member’s sole account.
- You may nominate a person(s) of choice to receive your property presently up to a maximum value of €23,000. Any amount in excess of €23,000 will form part of your estate. A charity or organisation cannot be nominated – a person’s name must be given.
- When a nomination is made to a person under 16 their parent/guardian/other appropriate person of full age signs a receipt and indemnity.

Following due consideration and deliberation, the Board of Directors of Monaghan Credit Union Limited has reluctantly decided to introduce a cap of €25,000 on shares per member effective as of 1st September 2022. This decision was taken in the best interest of all members of the Credit Union.

Monaghan Credit Union has made the difficult decision to ask members to reduce their savings to €25,000.
Members with less than €25,000 can increase their shares to €25,000, but no more than that amount. The Board will keep these arrangements under constant review.

Under Credit Union Rule 22 (now amended to Rule 19) if your account becomes inactive for 3 years and we are unable to contact you within that period it may become a dormant account. It is in your own interest to keep it active by conducting regular transaction.

The account may be reactivated by conducting transactions and supporting it with photographic I.D. e.g. passport or drivers licence or birth certificate for children, AND confirmation of address (not more than 6 months old) e.g. utility bill or revenue documentation.

How to apply

How To Apply

Join, borrow or save with us, apply in your own time. We are offering our members freedom, flexibility and choice. Become a member today, what are you waiting for?

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If you would like more information on saving with Monaghan Credit Union please contact us today.

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