Membership is open to people & members of their families living or working in the postal areas of Westport, Newport & Louisburgh.

Yes, Westport Credit Union encourages savings from an early age.

Yes, you can be a member of more than one Credit Union as long as you live and/or work in the common bond.

The Common Bond is the factor which unites the members of the Credit Union - it is what members have in common. The Common Bond ensures that the savings of members of the community or workplace are available to fellow members as loans. Westport Credit Union covers the postal area of Westport, Newport and Louisburgh.

Shares are savings in a Credit Union. All members must have at least €10 in shares to maintain their membership.

The maximum savings a member can have in Westport Credit Union is €100,000 between deposits and shares.

You may withdraw your savings at any time, unless they are pledged as security against a loan taken out. We encourage members to take a loan and keep their savings intact.

On the website homepage click ‘Register for Access’ in the top right corner and enter the required details. A unique PIN number will be posted to you. Please note that your details on our system must match the details you enter of your PIN i.e. member number, email address etc.

A first loan shall be considered as soon as you open an account with a minimum balance of €10. For more information on loans and all our loan packages, please click here.

No. You can log on as you always do with the same PIN you always used except now you will have access to more! On the website homepage click ‘Member Login Account’ in the top right corner.

The AGM is usually the first week of December every year. Check the website closer to the time for confirmation of the exact date.

The Annual Report is usually available to members one week before the AGM. Check the website for news and updates.

If you need to reactivate your membership of Westport Credit Union, please download our Member Update/Reactivation form and send or drop it in to any of our three offices.

As soon as you are aware that your card has been lost or stolen, contact the customer service line on +353 1 693 3333, support is available 24/7. You can also suspend your debit card in the Westport Credit Union Mobile App.

Yes, you can! If you apply online, you can add an Overdraft during the Current Account application process.

If you’re opening your Current Account in any of our branches, our team will guide you through everything.

If you are an existing current account holder with Westport Credit Union and want to add an Overdraft, contact our Loans team on loans@westportcu.ie or drop into the Loans Hub in our Westport branch.

Absolutely! Simply provide your employer with your new IBAN & BIC numbers and they’ll be able to pay your wages directly into your credit union current account.

Yes, you can use your card at ATMs nationwide.

Yes! You can tap your card in stores, plus you can add it to your digital wallet so you can use Apple Pay or Google Pay.

The Mastercard Debit Card is globally accepted so you can use your card all over the world.

Find out more about using your Westport Credit Union Current Account abroad.

You can change your pin at most ATMs. Alternatively, you can change your Debit Card pin number in the Westport Credit Union Online Banking system.

Want to find out more about our Current Account? Contact our Member Services team at currentaccount@westportcreditunion.ie.

An e-statement is an electronic version of your bank statement. It is formatted as a traditional bank statement, but is available as a portable document format file (PDF) via our web site.

You should switch to e-statements for many reasons. They are actually more secure than receiving a statement via traditional mail. The statement is stored on our secure servers and is only accessible via online banking. We will alert you via email when your statement is ready to view. Your statements are available as soon as they are generated instead of needing to wait for mail delivery.

Since the e-statement is provided to you as portable document format (PDF) file, you can use your PDF viewer software to save a copy of the statement to your local computer. You can then back it up electronically for archival purposes. You can also print the statement on your local computer and archive the paper copy of you wish. As with all online banking and personal information, you should ensure your computer is secured.

No. You can switch to e-statements for free!

Yes. Your e-statements are stored at our secure servers. We protect our data centers with physical security as well as with firewalls and various intrusion detection and prevention systems. If you choose to print or store your statements locally, they are as secure as you make them.

Yes. You will need your online banking login name and password. That is all.

Yes. The e-statement is delivered to you as a PDF file which you can print on your local printer.

You can sign up by visiting our Credit Union.

You will need a PDF viewer program. You probably already have one installed. The most commonly used program is Adobe Acrobat reader. These are available to download for free from their makers' respective websites.

Adobe Acrobat Reader is one example of a PDF reader program. In order to view your e-statements you will need this or another PDF reader program installed on your computer. These programs are generally available for free download via the web.

You can download Adobe Acrobat reader from the Adobe web site.

After you enroll, your first e-statement will be generated at your account's normal statement cycle date.

You should contact us at the your local Credit Union office.

If you need to cancel e-statements, you will need to contact a customer service representative at your local Credit Union.

No.

Once enrolled, you will no longer receive paper statements on the enrolled account(s).

Your savings in Westport Credit Union are very secure and backed by strong assets and reserves. In addition your savings continue to be guaranteed by the Deposit Guarantee Scheme which guarantees all savings in financial institutions up to amounts of €100,000 per member.

Over the last number of years, Westport Credit Union like many other Credit Unions throughout Ireland has seen significant increase in savings held by our members. While this savings increase underlines the confidence our members have in their Credit Union, it also adds significantly to our overall cost base which is reflected in terms of increased Regulatory levies, increased reserve requirements and increased insurance costs.

In addition member’s savings that are not lent out have to be placed on deposits with other financial institutions, unfortunately in the current low interest rate environment these institutions are paying little return and indeed in many cases are charging the Credit Union to hold short term deposits.

The Board of Westport Credit union is continually endeavouring to improve member services and believes that the introduction of a savings limit is an essential change required to protect the Credit Union and ensure its continued success.

The limit applies to the total amount a member can have in savings with Westport Credit Union.The limit is based on the member not the account. So each member is limited to €30,000 savings, whether those savings are in a sole account, joint account or a combination of both.

If a member has less than €30,000 in savings, no action is needed, however any lodgements or transfer of funds to your account which would bring your savings balance in excess of the savings limit will not be processed.

With immediate effect members will be unable to make further lodgements until their balance falls below €30,000.Those members with a balance in excess of €30,000 are being asked to withdraw the excess balance to bring them under the €30,000 limit by 1st July 2021.

If members have savings pledged against a loan, the savings limit will still apply. They will not be able to increase their savings above the €30,000 limit.

The savings limit will directly affect members with savings in excess of €30,000, currently less than 3% of members. Members in this category cannot make lodgements to their account(s) until such time as the balance in their savings is below €30,000. There is no restriction on members withdrawing funds from their account.

Given the current and projected future challenging climate of increased regulatory levies and historically low returns on investments, the savings limit will be in place for the foreseeable future. However, the Board of Westport Credit Union will keep the savings limit under constant review and if a decision is taken to change the current arrangement members will be notified directly of this.

The dividend and interest rebate are decided upon on a year by year basis at the Annual General Meeting. The amount of surplus will determine what amount is available for dividend/rebate. By introducing a savings limit, we are attempting to maximise the surplus available.

Westport Credit Union is in a strong position to give out loans. Our ability to lend is in no way affected by the savings limit and we continue to provide valuable loan services to the local community.

No, this has no bearing on the day to day operations of the Credit Union.

Westport Credit Union is adequately capitalised with total reserves of €20 million (19%) and assets of just over €105 million.

Each time our savings increase, we must allocate more money from our surplus funds to our regulatory reserve, thereby reducing the funds we have available to pay out by way of dividend or loan interest rebate. It also reduces the amount we can afford to invest in new services and new technology options that can benefit all our members.

To reduce the impact of this savings growth, the decision was taken to limit savings for the long-term benefit of our members.

The AGM is usually the first week of December every year. Check the website closer to the time for confirmation of the exact date.

The Annual Report is usually available to members one week before the AGM. Check the website for news and updates.

Depositor Information Sheet

Basic information about the protection of your eligible deposits

Additional Information

⁽¹⁾ Scheme responsible for the protection of your deposit
Your deposit is covered by a statutory deposit guarantee scheme. If insolvency should occur, your eligible deposits would be repaid up to €100,000.

⁽²⁾ General limit of protection
If a covered deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are repaid by the DGS. This repayment covers at maximum €100,000 per person per credit institution. This means that all eligible deposits at the same credit institution are added up in order to determine the coverage level. If, for instance, a depositor holds a savings account with €90,000 and a current account with €20,000, he or she will only be repaid €100,000.

⁽³⁾ Limit of protection for joint accounts
In case of joint accounts, the limit of €100,000 applies to each depositor. However, eligible deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of €100,000.

⁽⁴⁾ Reimbursement
The responsible deposit guarantee scheme is:
Deposit Guarantee Scheme, Central Bank of Ireland, New Wapping Street, North Wall Quay, Dublin 1. D01 F7X3

Tel: 1890-777777. Email: info@depositguarantee.ie. Website: www.depositguarantee.ie.

It will repay your eligible deposits (up to €100,000) within 10 working days from 1 January 2021 to 31 December 2023; and within 7 days from 1 January 2024 onwards, save where specific exceptions apply.

Where the repayable amount cannot be made available within seven working days depositors will be given access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request. Access to the appropriate amount will only be made on the basis of data provided by the credit institution. If you have not been repaid within these deadlines, you should contact the deposit guarantee scheme.

Other important information

In general, all retail depositors and businesses are covered by the Deposit Guarantee Scheme. Exceptions for certain deposits are stated on the website of the Deposit Guarantee Scheme. Your credit institution will also inform you on request whether certain products are covered or not. If deposits are eligible, the credit institution shall also confirm this on the statement of account.

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.