Deceased Accounts

Firstly, we would advise any next of kin to contact the Credit Union. We have employees who are very sensitive to these situations and try and make the process as easy as possible for you.

You will need some of the listed documents and information below to commence the process.

• Death Certificate for your loved one (generally available from your local Births, Marriage and Deaths Office in your HSE area) or an interim death certificate (available from your local coroner’s office).
• Photo ID (passport or driver’s licence) and Proof of Address (dated within the last 6 months) - for the Executor/Administrator/Nominee.
• Details of the Solicitor where one has been appointed.
• Copy of the Will (if any made) may be requested.

Insurance

On receipt of the death certificate or interim death certificate the Credit Union staff member will apply for settlement of insurance on the deceased account. This is a combination of:

• Death Benefit Insurance -this is a once off payment of €1000 towards funeral expenses. To be eligible, a member must join before their 70^th Birthday in good health and have a minimum balance of €500 in their share account on date of death.
• Life Savings Insurance –this is available on Share accounts, to eligible members who have joined the Credit Union in good health, before the age of 70.

Life Savings Cover

Life Savings Insurance is the life insurance cover we take out for all eligible members as an additional incentive to save regularly and maintain savings with the Credit Union. The amount paid out in the event of a member’s death will depend on their age and how much they have saved with us over the years. There is no additional direct cost to you, the member.

It is subject to a maximum set by Heritage Credit Union at €3000. Every €1 you save before the age of 55 provides €1 of benefit. So, if you are 54 years of age with €3000 saved in your credit union shares account, an insurance benefit of €3000 in addition to your savings will be paid out on your death.

No insurance is payable on amounts saved after your 70^th Birthday. Once earned, your insurance remains in force as long as you leave the savings in the Credit Union. Withdrawals may affect the amount payable.

It is essential that there is an up-to-date nomination on the account.

You can download a sample form below but if you need to update your nomination you must call in to a Heritage Credit Union branch and the staff will assist you.