When you join our Credit Union you have the option to ‘nominate’ an individual(s) as part of your application. Those nominee(s) will be the beneficiaries of funds from the relevant account in the event your death, up to a total maximum of €23,000. This nomination is not considered part of your estate in the event of your death.
It is important that you keep your nomination status up to date. Please note that if you get married, this will invalidate any previous nomination so you should review your nominations at that time. In addition, if your nominee(s) pre-deceases you, then their nomination is also invalid. Please be mindful to update your nominations in these events.
Why should you fill out a nomination?
- A nominated person/persons will receive members shares and insurance benefits (if applicable) on death.
- The nominated parties can receive the funds without the need of probate.
- The maximum amount that can go to a nominee is €23,000. If there is a balance over €23,000 the remainder will go to the deceased estate.
Please contact your local branch on 021-4965134 to find out more about filling out a nomination form.