Whether you’re saving for something in the future or for a
‘rainy day’, regular saving is a good idea. When it’s with
Member First Credit Union, it’s an even better idea. On top of offering free savings accounts, there’s also the bonus of knowing that your savings are being used to make loans to other members. Members just like you.
How to join
Fill in an application form and hand in to staff member in any of our North Dublin branches.
provide required documents
Provide the required documents (proof of address, photo ID and PPS numbers). It only costs €1 to join, and you have to
lodge €5 to activate your account.
wait for approval
Your application will be sent for approval. You’ll get your account details via phone and email.
TYPES OF DEPOSIT ACCOUNTS
The Share Account is the most popular of the saving accounts we offer. Each member of Member First Credit Union holds shares, making them part-owner of the credit union. Once you join and open a share account you may be eligible to open one of our deposit accounts below, subject to terms and conditions.
Contact your local branch for more information.
CU Cash Account
This is an on-demand non-interest earning account. There is no minimum amount that members have to save. You can lodge and withdraw savings from this account at any time, as they are not held against a loan. What’s more, there are no penalties and no charges.
How do I open one of these accounts?
You need to have a share account with the Credit Union first before being eligible to open this account. Call in or contact us on the details below and we’ll talk you through all of the details and terms & conditions. Please note though, you may be asked to provide proof of your PPSN and photo ID.
Christmas Savings Account
Christmas can be an expensive time, but with our Xmas Saving Account you have a whole year to prepare for it! Start saving even a little every week, and watch it grow.
This is an on-demand non-interest earning account, and separate to your other Member First Credit Union accounts. It’s easy to set up, and there are no fees.
- Make lodgements directly by visa debit, payroll deduction, direct debit or cash payments.
- Access your money from the 1st November to 31st January
- Your Xmas Saving Account will not close following the payout date and you can continue to save for the following Christmas
How do I open one of these accounts?
You need to have a share account with the Credit Union first before being eligible to open this account. Call in or contact us on the details below and we’ll talk you through all of the details and terms & conditions. Please note though, you may be asked to provide proof of your PPSN and photo ID. But do it soon, because Christmas is coming!
Should I save with a credit union?
Enjoy our FREE Savings Accounts.
MFCU has a savings account for every type of saver. So whether you are saving for something in particular, have a lump sum to put away, or just want to build an ‘emergency fund’ to give yourself a little peace of mind, we can help. We’ll put together a savings plan that’s easily managed and that works for you. Start saving today.
WAYS TO SAVE
free savings accounts
Of Course You’ll Want To Join!
With us, you’re not just a customer, you’re a member.
Important Information About Our Saving Accounts
The maximum amount of savings for all members who open or reactivate their account after the 8th December 2020 is €15,000. The maximum amount of savings for all other members is €30,000. The maximum amount of savings for all minor members (under the age of 16) is €5,000. These amounts are inclusive of all balances in Savings Accounts, Special Savings Account, CU Cash or Xmas Deposit Account.
CuCash and Xmas Savings Accounts
Please note that members must leave at least €63.50 in shares to be eligible for these accounts. Up to date ID and PPSN, as well as Proof of Address is also required to open these accounts.
Note that all dividends earned are subject to DIRT. The dividend is posted net to the account every year, which means you will have no further tax liability on this income and there are no Revenue reporting requirements or member declarations attached to this account. This can represent a saving to some members who would normally be liable for tax at the highest marginal rate.
Deposit Guarantee Scheme
All of the savings of our members are guaranteed up to a maximum of €100,000 under the Government Deposit Guarantee Scheme. Information on the scheme is available at www.depositguarantee.ie.
Our BIC is registered for SEPA payments only. This means that our members can send and receive SEPA payments only. If a member wishes to transfer funds into their account, then the payment must be made as a SEPA payment only.
If a member is aware that a third party is making a payment into their account, it is advisable that they tell their financial institution that the payment needs to be made via SEPA. If a payment is sent in any other way, for example by SWIFT/International Transfer, the payment will be rejected by our processing Bank and the Payer may incur a rejection charge that he/she may be liable for.