Death Benefit Scheme
The death benefit scheme is made available by St. Brigid’s Credit Union Limited to help address certain protection needs for members.
The main purpose of the scheme is to provide a benefit to eligible members in the event of their death.
The benefit in the scheme period from 1st January 2020 to 31st December 2020 is €2600. The benefit may be varied at a subsequent renewal date and any proposed amendment to the scheme benefit at a renewal date will be communicated in advance to members of the scheme.
WHO CAN JOIN THE SCHEME?
You are eligible to join the scheme if at the date of application
- you are a member of St. Brigid’s Credit Union, aged between 16 and 64, and
- you are in good health, and
- you have completed and returned a scheme application form before commencement of the new scheme year.
Once you join the scheme and pay the necessary annual amount (which will be deducted from your account) you will continue to be a member of the scheme unless your membership ceases in one of the following ways:
- you inform us that you wish to opt out of the scheme from the next renewal date or
- the available balance held in your credit union account is insufficient to meet the annual cost of maintaining your membership of the scheme, or
- you cease to be a member of the credit union, or
- the credit union decides not to, or is unable to, renew the scheme at a renewal date and the scheme is therefore discontinued from that date.
Please note: your annual deduction in any year entitles you to be a member of the scheme for that year only.
For more information click St. Brigid’s CU DBI Key Facts to download our key facts document. Alternatively you can contact any of our branches to speak with a member of staff in relation to the Death Benefit Scheme.