Nomination of Account Proceeds
Members can complete a nomination in favour of a person or persons to whom they want their savings to be released to in the event of their death. This is a straightforward and inexpensive means of passing property in the credit union onto family or friends. We advise all members to avail of this provision. You may be asked to fill out a nomination form when you are opening your account. You can complete or change this form at any time.
- The nomination must be in writing and signed by the nominator, the nomination can be revoked or varied at any time by the nominator during his lifetime, again this must be in writing.
- The nomination shall not be revocable or variable by the will of the nominator or by any such codicil to the will.
- The marriage of a member shall operate in the revocation of any nomination previously made by the member before the marriage.
- A nomination will be revoked by the death of the nominee before the death of the nominator.
- The amount that can be transferred under a nomination is currently set at a maximum of €23,000.
Nomination forms are available in all our offices.
Make sure your nomination is up to date.