Savings

Whether you’re saving for something in the future or just for a ‘rainy day,’ regular saving is a good idea.

Regular saving with Malahide 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.

Each share you hold in your credit union is equal to €1. Members enjoy equal rights to vote (one member, one vote) and participate in decisions affecting the credit union.

  • Savings are insured at no direct cost to the eligible member.
  • No hidden fees or transaction charges.
  • When we declare a dividend at the end the 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.
  • Maximum savings that can be held by any member is €20,000


Credit Unions in the Republic of Ireland are covered by the Deposit Protection Scheme which is administered by the Central Bank of Ireland.

In addition to this, there is also the Savings Protection Scheme (SPS) owned and operated by the Irish League of Credit Unions.

Members’ savings are insured through Life Savings Insurance (subject to certain terms and conditions).

Every share you hold with your credit union for the year is eligible for a dividend when declared. A dividend is the return on your shares and it is paid by your credit union out of surplus.

Past performance is not a reliable guide to future performance. The amount of your dividend will depend on:

  • The amount of shares you have saved (one share is equal to €1).
  • The surplus income available for distribution by your credit union to members.


You can withdraw your savings, acceptable photographic identification required, provided they are not pledged as security on a loan. However, you are encouraged to keep your savings intact, so that:

  • They continue to earn a dividend.
  • They continue to benefit from the Life Savings Insurance protection.


Anyone within the common bond is eligible to apply for membership, and start saving as soon as they are admitted. So, whatever you’re saving for – a car, home improvements, a big day, holiday, school or college fees, your place will give you a fair deal.

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