Tel: 01 4974003 Fax: 01 4977313 Email:

31 October 2014

Important Notice - DIRT Tax


Important Notice


From 1st January 2014, Deposit Interest Retention Tax (DIRT) must be deducted from all dividend or interest paid to credit union members. This brings credit unions into line with other financial institutions.

Members who can be exempt from DIRT are those who:

• Are aged over 65 (or whose spouse or civil partner is aged over 65),


• Whose total income is below the relevant limit (currently €18,000 for a single person or €36,000 for a married couple or a couple in a civil partnership).

In certain circumstances, members who are permanently incapacitated may also be entitled to an exemption from DIRT.

To avail of this exemption, you must complete a self-declaration form. Please contact a member of staff for more information.

Credit unions in the Republic of Ireland are regulated by the Central Bank of Ireland.

Happy International Credit Union Day!

This year’s theme, Local Service, Global Good emphasises credit unions positive impact in their communities and around the world. It also speaks to the powerful global network of 57,000 credit unions, with nearly 208 million members in 103 countries worldwide and the advantages that result from sharing challenges, experiences and solutions with one another to better serve members.

For over 50 years credit unions have been trusted to meet the financial, economic and social needs in communities across Ireland. They are central to the everyday lives of millions of members. Credit unions remain popular and continue to succeed because we have stayed true to our values and ethos. While the future will bring opportunities for growth and innovation, we will be at the heart of communities, serving members’ best interests.

On Thursday, October 16th, credit unions around the world will join to celebrate International Credit Union Day® and the role that financial cooperatives play in improving the communities they serve and the lives of their members. Cooperatives and credit unions are founded on community service, a principle that has set them apart internationally for more than 150 years. This year’s theme, Local Service, Global Good encapsulates what has long been credit unions’ core principles — service to members and social responsibility.

In an era that continuously poses economic and financial uncertainty for people around the world, this theme honours credit unions’ drive to positively impact their communities and to better serve their members. We are changing to meet members needs, like introducing new electronic payment services, online access to accounts, new Travel and Car Insurances through and a raft of other services like bill pay and foreign exchange...but our ethos remains the same and change will not be allowed to compromise what we stand for, or how we serve members’ best interests.

Credit unions are unique because they are not-for-profit, democratically controlled, member-owned cooperatives. Credit unions pool their members’ assets to provide low-cost loans and other financial services in the best interest of the members, not to earn shareholder profits.

In Ireland, 3.3 million people enjoy the benefits of credit union membership.

This International Credit Union Day, we hope everyone will join us in celebrating the credit union difference, our proud cooperative heritage and the wonderful opportunities credit unions and cooperatives offer members in communities worldwide every day.

Total Cost of Loans at 5% Interest

Harold's Cross Credit Union offers loans within shares at just 5% interest. This means that the money you have deposited with us as shares acts as collateral for your loan. As we have less risk in giving you the loan, we can offer a low interest rate. See how much it would cost to service a loan within shares below, or call into our branch where our friendly staff will talk you through your options and help you to build a repayment plan that suits you.

Free Loan Insurance

No Penalty Charges for Early Repayment

No Documentation Fees

€1,000 for 1 year at 5% — interest €25.44. Total repayment €1,025.44.

€2,000 for 1 year at 5% — interest €51.40. Total repayment €2,051.40.

€3,000 for 1 year at 5% — interest €76.84. Total repayment €3,076.84.


Web Security Update - Heartbleed

The Heartbleed vulnerability only affects websites that use OpenSSL software. does not use this software and is not affected by this. Members do not need to change login credentials as their details and our website are secure.

We have been assured of this by our web provider. If you haven't used our web facilities yet, please follow the link and register. Soon, you'll be able to check your account balance at any time, get e-statements and even apply for a loan online.

Online Survey - Please Complete!

We'd love to hear your opinions and ideas on Harold's Cross Credit Union and how we can improve our service. We want to hear from members and non-members, so please take two minutes to complete our online survey today. You are not identified to us in any way, so please be brutally honest! Please get your friends and family to complete the survey also. Thanks a million!

Just click on the link below and off you go...

Have you set up a Credit Union Nomination?

Dear Member,

You may be aware that the Credit Union Act allows members to instruct that if they die, the value of their savings with the credit union passes to one or more specified persons. 

The advantage of this is that on your death, your savings are paid to the person you nominate quickly and without any complicated process involving lawyers or probate.

If you haven’t set up a nomination, we urge you to do so. It doesn’t cost anything, and the payment may ease the stress of your loved ones at the time of your death.

If you have set up a nomination, you should consider if it remains up to date and reflects your current wishes as things may have changed (e.g. change of marital or other circumstances) since you set it up. Amendments are simple to make and are entirely free of charge.

Nominations are easy to set up. All you do is complete a simple form in the credit union. Neither lawyers nor any member of your family need be involved. However nominations:

· must be in writing and signed by you;

· can be set up or amended any time without cost;

· must be set up in the credit union before you die;

· may include savings as well as the proceeds of the credit union insurance;

· cannot instruct that your savings pass to any credit union officer unless they are in your family;

· operate to a maximum of €23,000 only. Any surplus above this amount has to be paid into your estate

· may be cancelled or amended by you at any time;

· automatically lapse on your marriage or where your nominated beneficiary dies before you do; &

· cannot be varied by your will, which allows the credit union to make the payment without any complicated process involving lawyers or probate.

Unfortunately however, nominations cannot be put in place by persons under 16.

Remember: If you have a credit union loan, the credit union’s insurance clears it automatically on your death, subject to certain limitations relating to age, state of health & amount. This means that your savings can be passed direct to your nominated beneficiary without having to be used to clear your loan.

If you want to set up or update a nomination, please ask any credit union officer.

Change your life in 2014!

Harold's Cross Credit Union needs volunteers to help us deliver our services to more people. If you have any experience in banking, financial services or credit unions, that's great. If you don't have financial experience, that's fine too.

Even if you only have a couple of hours a week to spare, we could use your help. Volunteering at your local credit union is a great way to make new friends, help your local community, learn new skills and make your CV stand out. There are training opportunities available and our friendly team will help you to fit right in.

If you'd like to find out more, just message us or pop into the Credit Union office. And don't forget to tell your friends. Thanks!

Notice of AGM

The 2013 Annual General Meeting of Harold’s Cross & District Credit Union Ltd., registered number 197CU, will be held upstairs at Rosie O’Grady’s, 282 Harold’s Cross Road, Dublin 6W, at 8pm on Thursday, December 5, 2013.
All members are requested to attend. See you there!

Harold’s Cross Credit Union – Safe, Strong, Secure

The recent announcement relating to Newbridge Credit Union has no bearing on the performance of your credit union. Every credit union is financially independent of other credit unions. Harold's Cross Credit Union has sound finances, and your money is safe in our hands. We have a professional team managing your credit union and our staff are on hand to assist with any questions that you may have at this time.

Harold's Cross Credit Union remains a strong, secure financial co-operative which continues to offer a secure place for your savings and access to modest loans. We will continue to operate in a co-operative manner in the best interests of all members.

Harold's Cross Credit Union is well positioned to continue to provide for member saving and loan requirements in a safe and secure way.


Great Insurance Deals for Credit Union Members

We'd like to let all our members know about a new insurance company that's offering great value insurance products to credit union members. It pays to shop around when you're getting insurance quotes, so CU Safe can be contacted on Lo Call 1850 287 233 or you can find out more at Don't forget to let them know that you're with Harold's Cross Credit Union!


Colouring Competition Winners!

The winners of Harold's Cross Credit Union's colouring competition came into the office today, 2 August, 2013, to receive their prizes from Noeleen. Eden Byrnes was the winner in the Over 10s Category, receiving €100. Mylie Rose Byrnes won €50 for her artistic efforts in the Under 10s Category. Congratulations to both our winners!

The colouring competition was designed to get ideas and inspiration for a fresh colour scheme for the exterior of your credit union. We took all the suggestions on board and are now implementing a fresh and exciting colour makeover. Let us know what you think!

Please send any suggestions on how we can improve our services to, stay tuned to our Facebook page and tell your friends to join the credit union.

Many thanks to all those who entered the colouring competition.

Colouring Competition!

We’re doing up Harold’s Cross Credit Union and we need your ideas! Just let your imagination run wild, colour in the office as you would like to see it, including a sign, and you could win a CASH PRIZE, just in time for the holidays!

There are 2 categories: Under 10s, 1st Prize €50 and Over 10s, 1st Prize €100! Jjust pop into the office and pick up the picture. Add your contact details, get your parent or guardian to sign (if you’re under 18) and drop your entry into the Harold’s Cross Credit Union office by 21 June, 2013. 

Good luck!

Like us on Facebook and win €100!

Win one of 4 €100 prizes! Just like Harold's Cross Credit Union's page on Facebook, share the competition announcement and you’re automatically in with a chance to win one of 4 monthly €100 prizes, to be lodged into your new or existing account with us, as shares. Draws will be held at the end of June, July, August and September, 2013. So, like us on Facebook today and have more chances to win!






Important Notice

Harold’s Cross & District Credit Union proposes to re-instate the Death Benefit Insurance for the members  In order to do this it would need the agreement of at least 50% of the membership, who hold a minimum share balance of €100 and have joined the Credit Union before his/her 70th Birthday.


If you wish to avail of this cover, please sign the form below and return as soon as possible to the Credit Union. If the scheme is accepted deduction of the appropriate cost will commence.

We would like to remind you that the Credit Union requires 50% of the membership’s agreement to re-instate the Death Benefit Insurance.

Closing date for replies is 30-Apr-2013

ClickDownload Death Benefit Insurance (107.5kb)


Have you got news for us?

Send us your news and views so that we can keep our news current and up-to-date. If you have any other queries or comments we would be delighted to hear from you at any time.

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Harolds Cross Credit Union Tel: 01 4974003 Fax: 01 4977313 Email: Web:
Registered in Ireland: No 197CU. Harold's Cross & District Credit Union Limited is regulated by the Central Bank of Ireland