Membership FAQs
- Contact the office on 028 8772 3729 and any staff member will be happy to talk you through the initial steps of becoming a member.
- A member of staff will schedule an appointment if required. Walk ins are welcome, subject to staff availability, provided that member has brought the required documentation with them.
- Your application needs to be supported by 2 documents
- Photographic ID (e.g. Passport / Drivers Licence) and
- Address Verification (e.g. Bank Statement / Utility bill dated within the last 3 months)
Please bring these documents along with you. Other combination of documents can be provided, please see list or contact us at the office to discuss.
Please note that one document cannot be used for both photographic identification and proof of address.
*All acceptable address verification should be dated within the last 3 months.
Death Benefit Insurance (Paid by DCU*)
Death Benefit Insurance (DBI) is available to anyone who joins DCU before the age of 70 and is in good health. Member eligibility can be confirmed at a later date upon evidence of full recovery. Please ask staff for more information.
DBI is only payable if the member has a minimum of £100 in his/her account at the date of death (It is strongly recommended that the member maintains a savings balance of £100)
DBI provides £2,000 of insurance cover to help reduce the funeral costs of our members. The annual premium for the insurance this year is £18.46.
Dungannon Credit Union currently pays the premium as an operational expense for our members.
*What if I don’t have enough in savings?
If you wish to be covered under the DBI scheme, but don’t meet the qualifying criteria, you can still avail of this insurance by paying the necessary premium on an annual basis. Ask any staff member for more information.
*Insurance is underwritten by ECCU Assurance Company Limited. (ECCU is owned by the Irish League of Credit Unions (ILCU) under trustee arrangements.
Life Savings Insurance (Paid by DCU)
Dungannon Credit Union, like other Credit Unions affiliated to the Irish League of Credit Unions, offers its members an additional incentive to save regularly and maintain savings with DCU, at no cost to the Member.
Every pound which you save, up to the age of 55, in the event of your death is doubled (provided that you do not withdraw your savings).
This applies to a maximum savings value of £10,000 and is payable to the person you have named on your nomination form.
Savings made between the ages of 55 and 70 still receive an insurance premium, but the amount that is applied reduces as the Member gets older as shown in the table below.
Savings lodged on or after the member’s 70th birthday are not covered by this insurance.
*Any Share withdrawals made after the age of 55 will affect your life savings protection
Every £1 saved before the age of 55 | Provides £1 of insurance |
Every £1 saved between the age of 55 - 59 | Provides 75p of insurance |
Every £1 saved between the age of 60 - 64 | Provides 50p of insurance |
Every £1 saved between the age of 65- 69 | Provides 25p of insurance |
Loan Protection Insurance
Loan Protection Insurance covers eligible loans at no direct cost to the member.
What are the benefits?
In the event of a Members death, outstanding loan balances are repaid in full, subject to T&Cs. Members can take out a Credit Union loan in the full confidence that their dependents will not have to pay the remaining loan off when they die.
Loans under £8,000 are automatically covered by Loan Protection Insurance. Loans over £8,000 may still be insured but will require the member to complete a health declaration. In the event that a member has medical conditions to declare which would affect the insurance offered, this information will be forwarded to ECCU for medical underwriting review by specialist doctors.
Please note that all loans issued by DCU must be insured. If cover is refused by ECCU, it may affect the loan decision. All loans must be paid in full before the Member’s 85th birthday.
A Nomination of beneficiary is an individual over the age of 18 you would name to manage your account after your death. This person would be entitled to any funds in your account and would be in charge of dealing with the closure of the account in the event of your death.
On Dividend / Interest Rebate Posting Day (usually in December) each year, an affiliation fee of £1.25 will be debited from each members account. This fee represents member contributions toward the affiliation fees paid by Dungannon Credit Union to the Irish League of Credit Unions.
A maximum of £15,000 for adult accounts and £3,000 for minor accounts.
You can pay your account in several ways including over the counter by cash, cheque, debit card, by standing order / online transfer from your bank, or by using our online services on our website and App.
* Withdrawals can be made using our website or App.
Standing Order - Savings Only
If you want to set up a new regular repayment, please email info@dungannoncu.com. Include your member number and contact details and we will contact you to process your request.
Or call into the office and a member of staff will be happy to set this up. A signature is required in office.
Direct Debit *Repayments on your loan.
If you wish to set up a new regular repayment, please email info@dungannoncu.com. Include your member number and contact details and we will contact you to process your request. *Direct Debit will only be used in regard to Loan repayments and should be cancelled when loan is repaid in full.
Bank Transfer/ Card Payment
Create DCU as a beneficiary on your online banking app and pay money into your CU account. Please remember to include your member number in the payment reference field
Cheque
Cheques can be accepted and must be made payable to Member, however, please allow up to 10 days for clearing and access to the funds.
Debit Card Payments
You can make a payment using your debit card on our online member services section of our website or by telephone on 02887723729
If you need some helping to make online payments call us on 028 8772 3729 or email at info@dungannoncu.com.
*Regular Shares
The Regular Shares account is your main credit union account. A minimum of £5 must remain on deposit in your account to retain your credit union membership and right to vote. The shares in this account may be used as security against any loans issued.
