• Sep : 9 : 2017 - Our Lady Crowned Credit Union 50th Anniversary Open Day
  • Jun : 30 : 2017 - Student Loan Rate Promotion
  • Mar : 11 : 2017 - Monthly Loan Promotion
  • Feb : 18 : 2017 - Our Lady Crowned Credit Union – 50 Years Serving the Community
  • Oct : 22 : 2016 - THE “I’M GETTING MY ACT TOGETHER EARLY THIS YEAR” LOAN
Insurance

insuranceDeath Benefit Insurance

Death Benefit Insurance is designed to reduce the financial burden of bereavement. It provides a lump sum payment of €1,300 to cover funeral related expenses. There is no direct cost to the member for this service.

Every member is eligible for cover provided that the following criteria are met: he or she must have joined the Credit Union before the age of 70, is eligible for cover under the Life Savings policy and has remained a member of the Credit Union. In addition the account must maintain a minimum savings balance of €100.

Loan Protection Insurance

Loan protection Insurance is the cover that Our Lady Crowned Credit Union takes out on the lives of eligible members with Credit Union loans. Should a member with an outstanding loan amount die, the balance is repaid in full, subject to certain cover limits which may apply.

If you are an eligible member this means that you can borrow from the Credit Union in the confidence that your dependents will not be obliged to repay the outstanding loan balance in the event of your death. Most members are eligible but contact us to enquire about your eligibility and our staff will be happy to assist.

Life Savings Insurance

Life savings insurance is the life insurance cover your Credit Union takes out for all eligible members as an additional incentive to save regularly and maintain savings with the Credit Union. The amount of insurance benefit which an eligible member is entitled to is in direct proportion to the savings and age of the member (see table below).

There is no direct cost to the member as the premium is borne as an operational expense. No insurance is payable on amounts saved after the members 70th birthday. Please note that withdrawals may affect the amount payable.

Age limits % of savings covered
Up to age 55 100% insured on amount saved or lowest balance thereafter i.e. you will receive an extra 100% of your savings up to a maximum of €12,700.
Age 55-60 75% insured on amount saved or lowest balance thereafter i.e. you will receive an extra 75% of your savings up to a maximum of €12,700.
Age 60-65 50% insured on amount saved or lowest balance thereafter i.e. you will receive an extra 50% of your savings up to a maximum of €12,700.
Age 65-70 25% insured on amount saved or lowest balance thereafter i.e. you will receive an extra 25% of your savings up to a maximum of €12,700.

 

Contact us if you have any queries regarding these services.

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  • Contact Info

    11c Silversprings Road
    Mayfield
    Cork

    T: 021 450 4923
    F: 021 450 4933
    E: info@olccu.ie
  • Opening Hours – Mayfield

    Mon: 10am - 4.30pm
    Tue: 10am - 4.30pm
    Wed: Closed
    Thu: 10am - 4.30pm
    Fri: 10am - 5.30pm
    Sat: 9.15am - 12.45pm
  • Contact Info

    Wallingstown
    Little island
    Cork

    T: 021 435 4652/021 435 4660
    F: 021 435 4674
    E: info@olccu.ie
  • Opening Hours – Little Island

    Fri: 9:30am - 12.00pm
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