Save with your Credit Union

Whether you’re saving for something in the future or just for a ‘rainy day’, regular saving is a good idea. Regular saving with your credit union is an even better idea.

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Types of Saving Accounts

We have a number of different Savings Accounts for you to choose from, see the options below.

Single Account

A Single Account (Share Account) is a traditional credit union savings account that is linked to your Loan Account

Stamp Account

Stamp Accounts are a sub-account of a savings share account with the same membership number.

  • You will have full access to funds in your Stamp Account
  • Stamp Account funds are not linked to your Loan Account
  • No dividend is earned on a Stamp Account

Joint Account

A Joint Account (Share Account) is a traditional credit union savings joint account linked to your Loan Account.

Minor Account

This is our Junior Account for members who are under the age of 18

All savings accounts are activated on the spot at East Coast Credit Union once documentation is presented.
Register for 24 hour banking & Mobile App also & receive your PIN by text message.

Benefits of Saving with East Coast CU

  • Peace of mind that your savings are secure. Online and mobile account access
  • No hidden charges or transaction fees
  • Easy access to savings with withdrawals, unless savings are pledged against a loan
  • Life Savings Insurance, for eligible members
  • Supporting the local community to support families, build business and enhance the community

Frequently Asked Questions

You will need to visit our Bray or Wicklow branch in person to reactivate your account.

Please bring the following:

  • Photo ID: Passport or drivers licence
  • Recent Proof of Address eg: utility bill

To activate your account:

  • You will sign a reactivation form
  • You must make a lodgement or withdrawal on your account

Savings can be withdrawn from East Coast Credit Union (BCU) at no charge, provided the savings are not pledged as security on a loan or a loan you have guaranteed.

  • To make a withdrawal, members should present their account number and Photo ID.
  • You can have 24 hour access via online banking once you have registered and received your PIN.
  • For security reasons, any cash withdrawals larger than €3000 require 24 hours notice. Maximum cash given to a member is €5000, requiring 24 hours notice.
  • The quickest and safest way to receive / transfer funds is an EFT but a cheque can also be issued.
  • No charge for an Electronic Fund Transfer (EFT) to a SEPA bank account, the BIC & IBAN are required.
  • The cut off time for same day transfer is 12.50pm (excluding weekends).
  • Please note: If the payment is processed before 12.50pm Monday to Friday, it will be in the account by 8pm the same day.
  • If it is processed after 12.50pm, it will be in the account by 8pm the following day except for a Friday, the payment will be in the account on Monday.
  • If the money is being transferred to a third party bank account, a reference number will be required. This will identify who the payment has come from.
  • The maximum amount a member can hold in savings is now €70,000 (Maximum €50,000 in shares & stamps account, maximum €20,000 in Current Accounts).
  • Change introduced due to direct response to the banks charging the Credit Union negative interest rates on deposits.
  • Member's savings that are not lent out are invested to generate additional income, and up until recent years these investments have provided substantial income to the Credit Union. However, due to the low / negative interest rate environment this income has now declined, and most banks are now charging East Coast Credit Union to hold savings.
  • We will continue to monitor the situation carefully and in the event of a material change in the factors which impacted this decision, the monthly savings limit will be reviewed, and any change will be communicated to you.

For further details please see Regulatory-Information

  • Savings in the Credit Union are protected under both the Savings Protection Scheme and the Government Deposit Protection Scheme.
  • In the event of your death, you can nominate a close family member/ friend to inherit your savings, for more detailed information on 'wills & nominations'