What happens to my CU Shares when I die?

This facility is only available for credit union members. You can nominate a person to receive your shares of up to €27,000.

Who can I nominate?

A member can nominate anyone; family or friends. It is important that members review their nomination form regularly.

Can I change my nomination?

Yes of course! Making a new nomination revokes all previous nominations. So make sure to fill out a new application at any one of our branches.

Is a nomination the same as having authorisation?

No. You maybe authorised on someone's account to withdraw/lodge funds. A nomination is not the same.

Should I ask about my nomination?

Yes, a member of staff will be delighted to confirm whether you have completed a nomination and who your nominee is.

Find out how to nominate your account
Nominations - North Midlands Credit Union Ltd. Mullingar - Longford - Westmeath

Nomination of Account Proceeds

This is a unique facility for credit union members.

Credit unions have a nomination facility whereby if you are over 16 years of age, you can nominate someone to receive the property of your credit union accounts upon your death.
This is of benefit if the member dies without leaving a will as the property left in the credit union will not have to pass through the sometimes timely intestacy process.
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.

*Nomination forms are available in all our branches. Please note that as per the Credit Union (Amendment) Act, we now need two witnesses to the form which came into effect on the 22nd February 2024.

Key Points:

  • 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 witnessed by two people since 22nd February 2024.* The nomination can be revoked or varied at any time by the nominator, again this must be in writing.
  • Making a new nomination revokes all previous nominations.
  • The member must be 16 years or over to complete the nomination.
  • A nomination can only be made in respect of a member’s sole account.
  • 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 €27,000.

Make sure your nomination is up to date.

Please note: If you're personal circumstances have changed, and you are concerned about your nomination, do not hesitate to speak to a member of staff in any one of our six branches.

If you would like more information on nominations please contact us today.

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