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At no extra cost to the member, First South Credit Union provides Life Insurance cover for all eligible members’ shares (savings).
*Please note: Only the first named in a joint account is covered for insurance purposes*

Insurance is available only on the first €7,700 in savings.

The level of Insurance decreases as a member gets older. The following is a guideline of the insurance cover available by age:

  • Up to the last day of 54th year, €1 for €1
  • 55th year to last day of 59th year, 75c per €1
  • 60th year to last day of 64th year, 50c per €1
  • 65th year to last day of 69th year, 25c per €1

Once earned, the insurance remains in force, as long as you leave your savings in the Credit Union.

 

A member must satisfy one of the following criteria to be eligible for cover:

  • Be a Credit Union member
  • Have joined the Credit Union before age 70
  • the member must fall into one of the following insured classes:
    1) Working member 2) Homemaker 3) Student or 4) Good Health member

Only the first named party to a Joint Account is eligible for life savings cover.