Find out how to save with the Credit Union
Save - Black Raven Credit Union Ltd


A credit union is a group of people who save together and lend to each other at a fair and reasonable rate of interest. Credit unions offer members the chance to take control over their own finances by making their own savings work for them. Every Credit Union is owned by the members – the people who save & borrow with it – people like you.  We provide many facilities to our members including savings, low loan rates, direct debits, standing orders, online facilities and even a mobile app!

Whether you’re saving for something in the future or just for a ‘rainy day’, regular saving is a good idea. Regular saving with a Credit Union is an even better idea. At your credit union, you’re not just a customer; you’re a member of a successful financial co-operative. Each share you hold in your credit union is equal to €1. When your credit union declares a dividend at the end of its financial year, each share you hold for that year is eligible for a dividend. The more shares you have, the greater the dividend you will receive. And you have the added bonus of knowing that your savings are being used to make loans to other members.

Encouraging thrift is an important part of the Credit Union message. Regular saving and sensible borrowing are key elements to remember when it comes to managing your money. Saving regularly gives you financial security, independence, peace of mind and an attractive return on your savings.

Members’ shares in the Credit Union form the pool from which loans can be granted. As shares act as a security against your loans, you are advised to continue to save while repaying a loan to ensure that you are well placed if you need to borrow a higher amount on the next occasion.

No Hidden Fees

There are no hidden fees or transaction charges.

Easy Access To Your Money

Funds can be accessed easily provided they are not used as security against a loan.

Life Savings Insurance

Life savings insurance for eligible members (Terms & Conditions apply).

Protected Savings

Your savings* are covered by the statutory deposit guarantee scheme (DGS). If insolvency should occur, your eligible deposits would be repaid up to €100,000.

Nomination Process

Members can nominate a person to receive his/her property in the Credit Union on his/her death (up to €23,000).

You can currently save up to €25,000 in your Credit Union share account. Once you have reached this limit a deposit account will be opened and any additional savings will be lodged there.

The total savings balance cannot exceed €100,000.

Do you need to save for a special event, a weekend away or regular annual expenses? Why not open a Moneysave account today. Call us on 01-4610682 or email

If a member has more than €25,000 in their shares account, or combined share and moneysave account, the excess will be transferred to a Deposit Scheme in their account. The shares and deposits are withdrawable on demand and members are encouraged to shop around for suitable savings returns. The rate currently applied is 0.00% on funds held in Deposit accounts.

If your account is inactive for 3 years your account will become a dormant account. It is in the member's interest to keep it active by conducting regular transactions.

If your account becomes dormant, the account may be reactivated by conducting a transaction and providing supporting Photo ID and Proof of Address. Photo ID must be current and not expired and Proof of Address must not be more than 3 months old.

If you would like more information please contact us today.

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