Saving with Claremorris
Credit Union is even better than you may think: |
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| • A
secure place to save |
Credit
Unions are regulated by the Irish Financial Services
Regulatory Authority and offer the same level of protection
as banks and building societies. |
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•
Life Assurance cover on
your savings at no cost to you
|
Another
way we can save you even more money. |
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| • Savings
protection cover |
We offer
euro for euro cover on amounts up to €13,000. |
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| • Excellent
return on your savings |
The members
of a Credit Union pool their savings together, these
savings then provide a pool of funds from which loans
can be made. Essentially the Credit Union rents money
from its savers and therefore pays savers a return on
their money this is known as a dividend. This dividend
is given to each member at the end of every year and
is a nice annual windfall! Dividends are calculated
at the end of the Credit Union Financial Year in September
and are based on the profits made for the year (rate
for 2003 was 2.75%). |
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