Waterford Credit Union

We look after our own

Waterford Credit Union

We look after our own


Whether you’re saving for something special, or just a rainy day, it is a good idea to put something aside on a regular basis.

We have a number of different saving options, including our very popular 'Diddley' account which allows people to save for Christmas by putting aside a small amount each week. 

By saving with Waterford Credit Union, you’re not just another customer; you’re a member of a community based organisation which provides security and protection for your savings.

Members of Waterford Credit Union come together to save on a regular basis, and from this pooling of funds, we are able to lend to fellow members. In return, your shares will earn an annual dividend, if we make a surplus. As a community organisation, we share the rewards.

credit union savings waterford

How do I save?


Every €1 saved is the equivalent to a single share. You can save any amount as often as you wish. You may save by direct debit through your bank, or simply call into our office anytime. Your shares will build up quickly, and at the end of the financial year, every member may be entitled to a dividend, based on the number of shares they hold.

You can withdraw your savings at any time, although a minimum balance of €11 is necessary to maintain an active account. That said, if you need money, we would encourage you to take out a loan and keep your savings intact. This will ensure you still receive your dividend (if a dividend is approved at the AGM) and benefit from the free loan protection insurance.

Deposit Guarantee Scheme


The Central Bank of Ireland is responsible for administering the Irish Deposit Guarantee Scheme which provides protection to depositors in the event of a credit institution failing. Deposits up to €100,000 per person per institution are protected and compensation would be payable to eligible depositors within 20 working days. Eligible deposits in banks, building societies and credit unions authorised in Ireland are covered by the scheme.

Deposits with credit institutions authorised in another European Economic area (EEA) country and operating in Ireland on a branch basis are covered under that country’s deposit guarantee scheme. These credit institutions may opt into the Irish deposit guarantee scheme in certain circumstances.

The Irish Deposit Guarantee Scheme is funded by credit institutions lodging funds in a deposit protection account maintained at The Central Bank.

What are the different types of savings accounts?

  • Share Accounts
  • Fixed Term Accounts: 6 months 0.01%  / 12 months 0.02%
  • Stamp Accounts
  • 'Diddley' Christmas Saving Account

Why save with us?

  • Waterford Credit Union is owned by its members, for the benefit of its members.
  • We are a not for profit financial cooperative.
  • Any surplus income generated is returned to the members as a dividend, used to increase reserves and/or reinvested to improve services.
  • There are no transaction charges on savings (or loans) accounts.
  • Savings are insured at no direct cost to each eligible member.
  • Waterford Credit Union is a community based organisation.


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