Accrued Savings Benefits - Drumcondra & District CU members
Posted on: 14 Jul 2020
The Irish League of Credit Unions (ILCU) and ECCU Assurance have made arrangements to allow for the continuation of accrued savings insurance benefits for the former members of Drumcondra & District Credit Union (DDCU) who wish to join or move their funds to another ILCU affiliated credit union before 31st August 2020.
The former members of DDCU should first establish that they are eligible to join the new credit union and that the new credit union is in a position to provide for the continued insurance benefit in their policy of cover. To ensure the full insurance benefit is reinstated, the full payment received from the Deposit Guarantee Scheme would need to be lodged with the new credit union.
There are a number of conditions which may impact the level of cover to be provided. If you are considering lodging your payment to a credit union, please refer to the credit union for guidance on their requirements and details as to how you might be affected.
This continuity of cover will apply, subject to certain conditions, should former members of Drumcondra & District Credit Union be accepted as members of another credit union which is affiliated to the Irish League of Credit Unions before 31st August 2020.