10 April 2024
Savings Cap Update 10-04-24
Affinity Credit Union is pleased to announce changes to the savings cap.
With immediate effect:
- The amount each member can hold in Affinity Credit Union has been increased to €70,000.
There is currently no monthly lodgement cap in place.
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We understand that savings are important to provide independence, peace of mind and the strength to withstand unexpected emergencies. These increases aim to help facilitate persons wishing to build savings whether it be for holidays, mortgage deposits, rainy day funds, etc..
Yes. Affinity Credit Union is a financially strong and stable credit union and member’s savings continue to be guaranteed by the Government Deposit Guarantee Scheme.
There are a number of ways to make a lodgement into you savings account.
- A SEPA payment – using the IBAN for your Affinity Credit Union account, you can make a SEPA transfer from your bank. (Please note: Affinity Credit Union is registered for SEPA payments only. Affinity Credit Union is unable to accept SWIFT payments. You may incur charges if you attempt to send money to your account in Affinity Credit Union via SWIFT.)
- A Direct Debit – if you wish to save regularly, we can set up a Direct Debit from your bank account to your Credit Union. This can be set up in branch, or e-mail us at info@affinitycu.ie
- Online Debit Card payment – with online access, through Online Banking and on our Mobile App, you can make a debit card payment into your credit union account. Login here or register here.
- Telephone Debit Card payment – we can accept a Debit Card payment securely over the phone during officer hours.
- In branch – with cash or debit card. See opening hours here.
There are no hidden fees or charges on savings accounts with Affinity Credit Union.
There will be a fee of €5 incurred if a direct debit is returned unpaid, i.e. there was insufficient funds to meet this payment. This is a fee the bank charges the Credit Union, and we must pass that fee on. We alert all members to this when first setting up a Direct Debit. If a Direct Debit is returned unpaid 3 times, we will cancel this so the member does no incur any further fees.
When you become a member of Affinity Credit Union, you’re opening a shares account. This is your main savings account, but you also have a share in the ownership of Affinity Credit Union. This is why account holders are referred to as members and not customers. Along with having a say in the operation of Affinity Credit Union you also earn dividends.
You can have multiple savings accounts with your membership. For example you could have a 'Savings 1' for Christmas expenses, a 'Savings 2' for Mortgage deposit savings. Ask any of our staff members if you want to open a separate savings account.
