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Savings

Savings

Whether you are saving for a “rainy day” or to build up a track record to apply for a loan, regular saving is always a good idea.

Saving is a habit and can only be taught by doing. Once you develop the habit it will stay with you for
life. It is not about how much you save, but about developing the habit of saving regularly. So that by
keeping the habit going over time, your savings can add up to quite a lot.

Ways to Save

With Westport Credit Union you have a number of ways to lodge funds to Savings:

Electronic Funds Transfer

Transfer funds from your Bank Account into your credit union account

Online

Through your Bank’s Online Banking facility using your Credit Union IBAN and BIC Code.

Payroll Deduction

Mandate a piece of your ages to be automatically transferred into your credit union account.

Over The Counter

Call in to our Westport, Newport, or Louisburgh office.

Savings Limit

A maximum savings limit of €30,000 applies to each individual member. A limit of €60,000 applies to joint accounts i.e. €30,000 per each individual member.
Like all financial institutions, €100,000 per member is guaranteed under the Government’s Deposit Guarantee Scheme which gives you peace of mind that all your Share balance will be covered under this scheme.

Savings Limits for New Accounts

With immediate effect, a savings limit of €10,000 will be come into effect on all new Savings
Accounts opened at Westport Credit Union. This does not affect members with existing Savings
Accounts.

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