The maximum amount is €100,000 - however this includes all funds held in shares, deposit, current and joint accounts.

Additional lodgements are not permitted to the Fixed Term Deposit Account.

One withdrawal up to 10% of the amount deposited may be withdrawn during the term by the member. It may take up to 10 working days for a withdrawal to be processed.

In the event that your circumstances change, or you change your mind, after you have completed the application form; you can withdraw some or all of your account balance up to 14 calendar days from the date of account set up, without charge. In the event that the 14 days have passed it is not possible to get access to the funds in advance of the maturity date

Westport Credit Union Limited presently have a share cap of €30,000.

Your interest will be calculated daily. The interest will be lodged to your Fixed Term Deposit Account on maturity date. DIRT will also be deducted at source at the current applicable rate. See example interest calculation below based on the current Fixed Term Deposit Rates and DIRT rates

EXAMPLE Calculation

Members aged over 65 whose total income is less than the relevant limit of €18,000 for an individual and €36,000 for a married couple. For married couples, only one spouse needs to be over 65. To avail of this exemption, you must sign a self-declaration DE1 form and return to Westport Credit Union - available in office or at https://www.revenue.ie/en/additional-incomes/documents/dirt/form-de1.pdf If you do not complete the self-declaration form, the Credit Union will be obliged to deduct DIRT from your interest or dividend. You will then have to apply directly to Revenue for a refund of this DIRT (if you are eligible).

The Fixed Term Deposit Account does not carry any Life Savings Insurance cover. The amount of Life Savings Insurance benefit payable to your Nominee / Estate in the event of your death is based on the amount of funds held in your savings account at the time of your passing. When you transfer funds from your share account in order to open a Fixed Term Deposit Account, it could impact the benefit payable in the event of your death. In the event of your death during the term of the fixed term deposits account, any balances held in a Fixed Term Deposit Account will not be included in the calculation of the minimum savings balances for the purpose of a Life Savings Insurance claim payable to your Nominee or Estate

An annual statement will be available to view on your CU online account. In the event that a paper statement is required, this can be obtained in any of our branches but will be subject to a charge.

The details are available in branch and on our website.

It is planned that fixed term deposits will become a permanent fixture of the products and services available through Westport Credit Union.

All interest is applied to the account on the maturity date and the funds are automatically transferred back to your share account. The Fixed Term Deposit Account will subsequently be closed. You then have the option to withdraw the funds; retain your funds in shares or alternatively you can reinvest in a further Fixed Term Deposit Account.

Yes, you will be able to view your account online.