Kanturk Credit Union Limited

Savings as shares in a Credit Union are a better way to save. You are not just another customer but an active member of a highly successful financial co-operative. Yes, you have a share in the ownership of the Credit Union. Along with having a say in the operation of the Credit Union you also earn dividends. The maximum shares that can be held by any one individual in Kanturk Credit Union is €60,000.

Types of Share Accounts

Regular Share Accounts

These accounts are suitable for those who are not liable for income tax.
The onus is on the member to declare this account to the Revenue Commissioners.
Dividend rate declared at A.G.M. is posted gross to members accounts.

Special Share Accounts

Dividends are paid to this account net of DIRT
Return made by Credit Union does not include individual members details.
A member can hold a regular or special share account but not both

Medium Term Share Accounts

A declaration must be signed by the member to open a Special Term Account.
The first €480 dividend is tax free
Where dividends are paid in excess of €480 DIRT is paid at a rate of 25%.
A list of accounts (names and addresses) opened in the year must be sent to the Revenue Commissioners
A once-off lodgement only may be made to this account (terms and conditions apply)
Members holding a 3-year Term Account can convert it to a 5-year Term Account once their 3 year Term account matures but it is not permissible to convert an account from 5 years to 3 years.

Long Term Share Accounts

A declaration must be signed by the member to open a Special Term Account.
The first €635 dividend is tax free
Where dividends are paid in excess of €635 DIRT is paid at a rate of 25%.
A list of accounts (names and addresses) opened in the year must be sent to the Revenue Commissioners
A once-off lodgement only may be made to this account (terms and conditions apply).
Members holding a 3-year Term Account can convert it to a 5-year Term Account once their 3 year Term account matures but it is not permissible to convert your account from 5 years to 3 years.