Have you completed a Nomination Form?
As a Credit Union member, you are entitled to nominate a person to be the beneficiary of your Credit Union savings following your death.
Under the Rules, the person or persons nominated will be entitled to up to €23000 including any insurance due on the account. Any balance remaining will be processed through the estate.
A Form of Nomination in the Credit Union supersedes any will that the member may have. This means that the members should check their nomination in the Credit Union regularly to ensure that the person nominated is still in line with their wishes.
The marraige of a member revokes a nomination made prior to the members marraige. The spouse is then deemed to be the nominee unless the member specifies ootherwise subsequent to his/her marraige.
On joining the credit union, the member makes a written statement nominating a person or group of people to become entitled to any property in the Credit Union e.g. savings, loans or insurances, at the time of his/her death. The member can change the person nominated in writing at any time during the member’s lifetime. The nominated person will be contacted by the credit union on the death of the member.