Drumshanbo Credit Union wishes to advise members that our savings cap which was initially put in place in March 2018 has been reduced to €20,000 per member.

Due to significantly increased costs of holding deposits it is no longer possible for the Credit Union to absorb this expense.

As 98% of members in this credit union hold average savings of just over €3,000 this only affects a very small number of accounts. 

Existing savings are not affected in any way and the new limit applies only to new funds.

If you have any questions in relation to this development please ask to speak to the manager.

The Board of Directors

March 2020