Frequently Asked Questions

What happens to my shares when I die?

Members of the credit union can nominate a person to receive their credit union shares up to €27,000 on their death.

Who can I nominate?

A member can nominate anyone – family member, friend or group of people. It is important that members review their nomination form regularly.

Can I change my nomination?

Yes, by filling out a new nomination form. A nomination becomes invalid if the member gets married or the nominee dies. It is a good idea therefore to review the nomination from time to time to ensure that the person(s) nominated is/are the most appropriate. Please note that divorce or legal separation will not revoke a nomination.

What happens if I joined as a child (through my parents)?

If you joined as a child, you would not have filled out a nomination form. Therefore, once you reach the age of 16, you will need to fill out the nomination form.

Where do I get a nomination form?

You get it here, drop into any branch and ask a member of staff or call 01 299 0400.

Please Note

● A nomination must be in writing
● The statutory maximum amount that is paid out under a nomination is currently €27,000. Any amount in excess of this balance becomes part of the deceased member’s estate.
● If you elect not to complete a nomination, the proceeds from your account will form part of your estate on your death and will be dealt with under the terms of your will, or if you have made no will, under the rules of intestacy or under the small payments provision*
● You may revoke or vary your nomination at any time by completing a new nomination form.
● A nomination is not revocable or variable by the terms of your will or by codicil to your will.
● A nomination is automatically revoked when your nominee dies before you. In this case, you should consider completing a new nomination. If you do note, your property in the credit union will form part of your estate.
● A nomination is automatically revoked by your subsequent marriage. Please note that divorce or legal separation will not revoke a nomination.
● Where your personal circumstances change (e.g. marriage, divorce, separation), you should review your nomination at that time.
● The nominated savings do not form part of a deceased person’s estate.
● A person under 16 years of age cannot make a valid nomination.

* Small Payment Provision: where no valid nomination exists and the amount in your account is less than €15,000 in total (including insurance etc.), the Board and Directors of Capital Credit Union may, without letters of authorisation or probate of any will, distribute your property in the credit union to such person(s) as appear to the Board to be entitled by law to receive it.