Nominations

A "Nomination" is a legally binding, written instruction that tells us what to do with your money after your death.

This is a unique facility available only to Credit Union members.

We urge all members to ensure they have a valid nominee on their account, as it speeds up the process for loved ones at a very difficult time.

  • Members should ensure that they have an up-to-date nomination form in place with two witness signatures.
  • A nomination must be in writing. You may obtain a nomination form from either branch in Bray or Wicklow.
  • The statutory maximum amount that can pass under a nomination is currently €27,000. (increased from €23,000 on 22nd February 2024) Any amount in excess of the balance will form part of your estate.
  • If you elect not to complete a nomination, the proceeds of your account become part of your estate on your death and will be dealt with under the terms of your will or under the rules of intestacy if you make no will.
  • A member may revoke or vary their original nomination at any time by making a new nomination.
  • A nomination is automatically revoked when your nominee dies before you. In this case, you should complete a new nomination. If you do not, your property in the Credit Union will form part of your estate.
  • A nomination is automatically revoked by your subsequent marriage.
  • When your personal circumstances change (e.g. marriage, divorce or separation) you should change your nomination at that time. Divorce DOES NOT revoke a nomination.
  • Joint Accounts: By virtue of the right of survivorship on the death of one of the parties to a joint account, the account becomes the property of the remaining party or parties to the account.
  • A nomination is not revocable or variable by the terms of your will.