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.