Insurance & Nominations

Life is full of unexpected twists and turns. And though we do our best to plan for the road ahead, we never know what’s around the corner. As a member of Member First Credit Union you have access to some great insurance deals from various suppliers for:

Discounts and a wide range of insurance

Home Insurance

From our partners

Car Insurance

From our partners or

Travel Insurance

From our partners

Health Insurance

From our partners


When you join Member First Credit Union, you’ll be asked to nominate a beneficiary on the application form. The person nominated will benefit from your shares when you die.

It is therefore important for you to update this form to ensure that it reflects any change in his / her status. If your nominated beneficiary dies before you, then another beneficiary should be nominated. It is important that you update your nomination in the case of a change in marital status, as the original nomination becomes invalid once you married.


  • Members can nominate a person/persons to receive their credit union shares and insurance benefits (if any), on death
  • The person/persons nominated can receive the funds without any problems, and there is no need for probate
  • There is a maximum limit of €23,000 that can be passed to a nominee in this way. The balance over €23,000 if any goes into the estate


 Please contact your local branch to ensure you have completed a nomination form.

FREE Loan Protection Insurance*

Loan Protection Insurance is provided by the Credit Union at NO extra cost. So, you can borrow from us in full confidence that your dependents will not be obliged to repay any outstanding loan balance. This insurance is only available to members who join us before the age of 70.

Am I eligible?


Any credit union member is eligible for Loan Protection insurance provided that:


  • The borrower has not reached their 70th birthday by the end of the loan agreement.
  • Where a borrower has reached their 70th birthday, reduced cover is available to a maximum loan of €8,000 for those aged between 70 – 80 years. The loan agreement must be completed before the borrower reaches their 80th birthday. 
  • The borrower is actively at work or able to carry out their normal occupational duties.
  • If not working, the borrower is in good health*



What am I not covered for?

If a member dies within 6 months of receiving a loan, and the cause of death was a **Pre-Existing Condition / illness, no insurance will be paid on the loan balance. A Pre Existing Condition / illness is one you were aware of, diagnosed with or were being treated for 6 months prior to the loan date.


*Terms and conditions apply. ** Pre-Existing Conditions; when making a loan application, borrowers are asked to complete a Pre-Existing Condition Limitations Form to alert the credit union to any pre-existing conditions they may have. Borrowers are covered for any pre-existing conditions after six months of the loan being issued. All statements relating to health must be made in good faith. Incorrect or dishonest information may result in a denial or reduction of insurance benefits

FREE Life Savings Insurance

This is a FREE life insurance cover provided by Member First Credit Union to all eligible members as an additional incentive to save regularly and maintain savings with the Credit Union. It means your dependents will receive a financial sum in the event of your death. This insurance is only available to members who join us before the age of 70.

Am I eligible?

You’re eligible for Life Savings Insurance provided that:


  • You have not reached your 70th birthday
  • You are actively at work or able to carry out your normal occupational duties
  • If you’re not working, you must be in in good health*
What am I not covered for?

Any lodgements made by a member with a pre-existing condition / illness 6 months prior to their death will result in no extra insurance being paid out on their life savings insurance.


A pre-existing condition /illness is one you were aware of, diagnosed with or were being treated for 6 months prior to your death.


For more information conditions, please contact your local Credit Union.


 * Terms and conditions apply.

How Does Life Savings Insurance Work?


The amount of insurance benefit which an insurable member is entitled to is in direct proportion to their savings and their age. Once earned, the insurance remains in place provided you leave your savings with the Credit Union. Withdrawals may affect the amount payable.





6mths to 54 yrs

Every €1 saved

You get €1.00 cover per €1 saved

55 to 59 yrs

Every €1 saved

You get €0.75 cover per €1 saved

60 to 64 yrs

Every €1 saved

You get €0.50 cover per €1 saved

65 to 70 yrs

Every €1 saved

You get €0.25 cover per €1 saved


This is subject to a maximum of €5,000

Death Benefit Insurance

Member First Credit Union is pleased to offer members a Death Benefit Insurance Programme to assist with end of life expenses. In summary, this programme provides: €2,000 fixed life assurance cover, payable on your death. No medical is required.

  1. Members must be under the age of 71 at the time of enrolment.
  2. New Members can enrol in the program on the 1st January each year, the following chart should explain the criteria. 
    Member Current Age Age next birthday Programme Eligibility
    A 70 71 after 1st January Eligible
    B 70 71 before 1st January Not Eligible
  3. Members will need to ensure that they have at least €57.00 in the account at the time of deduction. *(€52.00 for the program taken in a lump sum each January, and €5.00 to ensure your Credit Union account remains open).
  4. If a Member does not have at least €57.00 in their account at the time of deduction, they are automatically removed from the program.
  5. A Member can rejoin the program at the appropriate time, providing they meet the eligibility criteria at the time of rejoining.
  6. Please be aware that you must opt-in to this program, enrolment is not automatic. Download our DBI Entry Form and return it to your local branch to join.

Once you join the Program you remain a member of the Program, which auto-renews on an annual basis, until such time as you choose to opt-out of the Program, or you stop paying the premium or your membership of the Credit Union ceases. You can opt out of the program by completing the cancellation form which can be found below under the documents section.


We are delighted that Member First Credit Union can provide this insurance, as it demonstrates our commitment to our members. If you have any questions, our team are on hand at all our branches and on the phone, and they will be delighted to help you.


Death Benefit Insurance Documents:



This policy is arranged, on behalf of Member First Credit Union by Cuna Mutual Group Services (Ireland) Limited which is regulated by the Central Bank of Ireland. This Program is underwritten by Utmost PanEurope dac, a designated activity company registered in Ireland (No 311420) and authorised by the Central Bank of Ireland with registered office at: Navan Business Park, Athlumney, Navan, Co Meath. Member First Credit Union is regulated by the Central Bank of Ireland