Nominations

Nominations

Nominations

All members are encouraged to complete a Nomination of Beneficiary Form. Nomination forms allows the member to specify the person or persons that they wish their funds held in the Credit Union to be transferred to in the event of their death. There is no charge for making a nomination. Watch our helpful online video “nominations” or read more information below.

 

  • The statutory maximum amount that can pass under a nomination is currently €23,000. Any amount in excess of this balance will form part of your estate.
  • If you elect not to complete a nomination, the proceeds of your account will form part of your estate on your death and will be dealt with under the terms of your will, under the rules of intestacy if you make no will, or under the small payments provision.
  • You may revoke or vary your nomination at any time by completing a new nomination form.
  • If you have completed a Nomination Form but have since gotten married – your nomination is revoked and you will need to complete a new form.

You may obtain a nomination form from the office or download it from our Forms/Download section.