Nominate a person to receive the property of your Credit Union Accounts in the event of your death.
You can nominate someone to receive your savings and insurance benefits up to a maximum value of €23,000 in the event of your death. Using a nomination facility means the money can be paid without waiting for probate and without inheritance tax, up to a maximum value of €23,000. Any amount in excess of €23,000 will form part of your estate.
A nomination form can be completed by any member aged 16 years or over. Your nomination and the savings associated are separate to your will and estate and are not affected by the terms of your will or by a modification to your will.
You can change the details of your nomination as often as you like. You should review your nomination when there is a change to your personal circumstances (e.g. marriage, divorce or separation), and please note that a nomination is automatically revoked if you get married. A completed nomination form must be signed and witnessed in branch. This service is free to our members and one of the great attractions of credit union membership.