Nomination of Your Account
This is a unique facility for all credit union members. Credit unions have a nomination facility whereby if you are over 16 years of age, you can nominate someone to receive the property of your credit union accounts upon your death. A Nomination is a legally binding, written instruction that tells the Credit Union what to do with your money after your death. The Member completes a Nomination Form, which allows the member (nominator) to nominate a person/persons (nominees) to become entitled to any properties in the credit union in the event of death. This is of benefit if the member dies without leaving a will as the property left in the credit union will not have to pass through the sometimes timely intestacy process.
You may nominate a person(s) of choice to receive your property presently up to a maximum value of €23,000 in Republic of Ireland. Any amount in excess of €23,000 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. If you do not, your property in the credit union may form part of your estate.
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.
Please ensure you fill out your nomination form and keep it up to date.
The Nomination Form
If you would like to print a copy of our Nomination Form please find it here Member Nomination Form. You can then fill out the top half of the form and bring it to our office in Blackrock where one of our friendly staff members will witness your signature.
If you have any questions on our Nomination Form, please call us on 01 283 1034, email firstname.lastname@example.org or drop in to our office in Blackrock.