Download Forms

Standing Orders

You can pay into your credit union account by Standing Order directly from your bank account.  Ask any member of staff for a Standing Order Form or follow the link below to download a form.

Download our Standing Order Form Here

 

Withdrawal of Shares & Deposits

The Credit Union may require not less than 60 days notice for withdrawal of shares and not less than 21 days’ notice for withdrawal of deposits (Wicklow & District Credit Union Ltd does not generally invoke this).

Withdrawal of shares or deposits may not be permitted while a loan or a guaranteed loan is outstanding.

All account holders’ signatures are verified against our records prior to any withdrawal being issued.

In the event that the person nominated to complete the withdrawal is not known to the credit union staff, they will be asked to provide current photographic identification.

Please verify that all cash requested and paid out is correct so that if any discrepancy is encountered it can be rectified before leaving the counter.

Drafts & Cheques must be given 10 working days to clear before withdrawals can be made against them.       

Withdrawals made any time after the age of 55 significantly reduce the amount of Life Savings benefit paid out.

STANDARD RULES FOR CREDIT UNIONS REGISTERED UNDER THE CREDIT UNION ACT, 1997

Rule 38. Restrictions on withdrawal of shares and deposits

(1) Notwithstanding anything in these rules or in any contract, the credit union may require not less than sixty days’ notice from a member of his intention to withdraw a share in the credit union and a member may not withdraw any shares at a time when a claim due on account of deposits is unsatisfied.

(2) Notwithstanding anything in these rules or in any contract, the credit union may require not less than twenty one days’ notice from a member of his intention to withdraw a deposit.

(3) If a member of the credit union seeks to withdraw a share in or deposit with the credit union at a time when he has an outstanding liability (including contingent liability) to the credit union, whether as borrower, guarantor or otherwise, that withdrawal shall not be permitted unless:

(a) were the withdrawal to be permitted, the value of the member’s savings immediately after the withdrawal would be not less than the amount of his outstanding liability; or

(b) the withdrawal is approved by a majority of the members of the board of directors voting at a meeting of the board, but no approval may be given under paragraph (b) if, were the withdrawal to be approved, the value of the member’s savings immediately after the withdrawal would be less than 25% of his outstanding liability.

(4) Where a member of the credit union is indebted to the credit union and consents in writing to the credit union acting under this paragraph, the credit union may, by way of set-off against the indebtedness, withdraw any of the member’s shares or deposits;

If you are personally unable to call to the Credit Union to make a Share/Deposit Withdrawal, please follow the link below to download a form allowing a third party to withdraw on your behalf;

Withdrawal Form

DIRT-Free Deposit Accounts for those Aged 65 or Over

1. How DIRT currently operates

Deposit Interest Retention Tax (DIRT) is deducted from interest paid on most deposits held by Financial Institutions such as Credit Unions, Banks, Building Societies and the Post Office Savings Bank DIRT is deducted from a customer’s deposit interest regardless of whether or not the customer is actually liable to tax. At the end of the year some account holders, provided they meet certain conditions, are entitled to claim a refund from Revenue of any DIRT deducted during the year.

2. Revised arrangements

The Finance Act 2007 introduced new arrangements that allow you to have any interest earned on money on deposit credited to your savings account by your Financial Institution without deduction of DIRT, where you satisfy certain conditions (outlined at Paragraph 3).

If you meet these conditions, you can apply directly to your Financial Institution to have the interest paid without deduction of DIRT.

3. Qualifying conditions

In order to claim exemption from DIRT you must complete a declaration form stating that you or your spouse (if you are married) meet the following conditions:

  • Either you or your spouse (if appropriate) are aged 65 or over when making the declaration
  • Your and your spouse’s (if appropriate) total income for the year will be below the relevant annual exemption limit.

The current annual exemption limits are listed in Revenue’s information leaflet.  This leaflet can be ordered by phoning LoCall 1890 306 706 available 24 hours a day, 7 days a week or from any Revenue Office or can be downloaded from http://www.revenue.ie/en/tax/it/leaflets/it1.html#section2.

This annual exemption limit may be increased if you have dependent children. A dependent child is defined as one who is:

  • Under 18 years of age, or
  • Over 18 years of age and in full-time education, or training full-time as an apprentice where the training is for at least two years, or
  • Incapacitated either physically or mentally, having become so before reaching 21 years of age or after reaching the age of 21 but while still in full-time education or while training full-time for a trade or a profession for a minimum of two years.

To download an Application for a DIRT Free Deposit Account if you are aged 65 or over or permanently incapacitated, please follow the link below;

http://www.revenue.ie/en/tax/dirt/forms/index.html

 

 

 

(NOTE: This document is designed to provide basic information for members of Wicklow and District Credit Union Ltd. It is not meant to be a comprehensive review of current taxation issues. Members are advised to discuss their own position with the Revenue Authorities, or seek the assistance of a qualified tax advisor, if in any doubt as to their liabilities.)