A Share Account is the first account opened when you join Core Credit Union, where every €1 saved equals one share and makes you a part owner with voting rights. Savings support lending to other members while giving you access to loans, dividends if declared, and flexible withdrawals. The maximum combined balance per member is €100,000.
What a Share Account Is
When you become a member of Core Credit Union, the first account you open is a Share Account. Every €1 you save equals one share in the Credit Union.
This means you are a part owner with equal rights to vote and participate in decisions affecting the Credit Union.
Core Credit Union is owned by members who save with it and borrow from it. The money members save provides funds to lend to other members. By saving regularly into a Share Account, you not only help yourself, but you also help your community.
Access and Withdrawals
Members can withdraw shares at any point, provided they are not pledged as security for a loan.
Members are encouraged to keep their shares intact to earn a dividend and to enhance their credit worthiness and capacity to borrow.
Benefits of a Share Account
Share Accounts benefit from:
Access to loans tailored to your needs and structured around your ability to repay.
Smartphone app.
Access to loans tailored to your needs and structured around your ability to repay.
Direct Debit payments.
Deposit guarantee scheme.
Life Savings Insurance.
Online accounts.
Credit transfers and more.
Savings Limit
The maximum combined balance allowed per Member in Core Credit Union is €100,000. Your combined balance is calculated by deducting any outstanding loan balance you from your total deposits with Core Credit Union. Total deposits are made up of your Shares, Stamps, and Current Account balances, added together.
"Your community, your Credit Union, your future."