Nominations

Nomination of Your Account

Nomination of Your Account

A nomination is a unique facility offered by credit unions to their members. It is a legally binding, written instruction that tells the credit union what to do with a member’s money after their death.

    • You may nominate a person(s) of choice to receive your property presently up to a maximum value of €27,000 in Republic of Ireland. You must be over 16 to complete a nomination. 
      Any amount in excess of €27,000 will form part of your estate.

    • You may change the details of your nomination as often as you like. A completed nomination must be signed and witnessed. Ask in the office and a staff member will help you complete the relevant form and witness your signature. The most recent nomination is the valid nomination.

    • A nomination is not revocable or variable by the terms of your will or by a codicil to your will.

    • The nominated property does not form part of a deceased person’s estate.

    • A nomination is automatically revoked when your nominee dies before you. In this case, you should consider completing a new nomination.

    • Where your personal circumstances change (e.g. marriage, divorce or separation) you should review your nomination at that time.

    • A nomination is automatically revoked by your subsequent marriage.

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