Why save with North Midlands Credit Union
Savings - North Midlands Credit Union Ltd. Mullingar - Longford - Westmeath

North Midlands Credit Union offers a range of financial services to make it easier than ever to manage your money.

It can be difficult to save, but we recommend that you consider developing a good budgeting and savings habit. Save a little often and you will be surprised at how quickly the benefits add up! Whether a special occasion is looming or to simply create a rainy-day fund start saving with North Midlands Credit Union.

If you are not a member already, why not think about joining today?


Your wages can be paid directly into your credit union account. Provide your employer with your credit union IBAN & BIC to transfer your wages into your account.

Pensions & State Benefits

Have your pension, social welfare payments and benefits paid directly into your credit union account.

Credit Transfers

You can save by setting up a regular Standing Order from your bank account. Transfer money as you please if you do not want to commit to a regular payment option.

Debit Card Payments

You can save by debit card payment. We accept all Mastercard & Visa debit cards and visa electron cards. This can be done online, over the phone or at the counter.

Direct Debits

You can save by setting up a regular direct debit from your bank account. This can be set up in any of our branches.

Payroll Deduction

You can save by deducting funds directly from your wages/salary into your Credit Union account. Check with your employer to see if they facilitate this scheme.

Savings - North Midlands Credit Union Ltd. Mullingar - Longford - Westmeath


Do I pay DIRT on my dividend and interest income?

From 1 January 2014 all share and deposit accounts (including accounts of minors) are subject to DIRT. This means that the credit union must deduct DIRT from any dividend or interest paid on a share or deposit account, and forward this to the Revenue Commissioners on behalf of members.

The DIRT rate for 2023 is 33%.

See our DIRT Leaflet – North Midlands CU DIRT LEAFLET

Exemptions from DIRT

Members over 65 years of age, or members who are permanently incapacitated, may be entitled to an exemption from DIRT or a refund of DIRT paid, subject to certain limits on taxable annual income.

See Revenue for more information.

If you qualify for DIRT exempt status and are over 65 years of age, please complete this form DE1 and return it to any of our branches, and we will mark your account as exempt.

If you qualify for DIRT exempt status and are permanently incapacitated, please complete form DE2 and send it to your Revenue Office. Revenue will then inform the credit union that you are exempt from paying DIRT.

If you do not complete the self-declaration form, North Midlands Credit Union Limited is obliged to deduct DIRT from your dividend.

If we have deducted DIRT from your account and you feel that you may be exempt you will need to claim a refund of the DIRT back from Revenue yourself. The DIRT claim forms are available for members HERE.

DE1 & DE2 forms must be presented to the credit union by December 1st each year to be effective.

The Board of Directors has taken the decision to introduce a savings cap on the amounts that new members can lodge in their accounts. For new members joining on or after Monday 19th December 2022, the maximum amount that they can hold in their account will be €20,000.

Members who have joined North Midlands Credit Union prior the 19th December 2022 can continue to hold up to a maximum of €100,000 in the Credit Union.

Members’ savings are covered by the State Deposit Guarantee Scheme which guarantees savings of up to €100,000.00 per person. Find out more on the Depositor Information Sheet available from our Downloads section.

How to open a savings account with NMCU

How To Join

We want you to be a part of North Midlands Credit Union so if you live, work, or attend school within the common bond, or live with a relative that is already a member, you can join today!

Please note: North Midlands Credit Union Ltd operates a savings cap of €100,000 per member: this limit applies on a cumulative basis across all of your balances with the credit union.

If you would like more information on saving with North Midlands Credit Union please contact us today.

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