What is your Credit Union Dividend for 2015?

Discussion in 'Credit Union issues' started by TheJackal, Nov 26, 2015.

  1. TheJackal

    TheJackal Frequent Poster

    Posts:
    184
    Feel free to post the rates for your local CU at they appear.

    CANA (staff and family of Revenue Commissioners) are paying 2% for 2015 (it was 2% 2014 and 2.5% 2013) subject to DIRT.

    This is a decent rate in the current climate. By way of comparison, Ulster Bank regular saver currently pays 1.5% on balances up to 15K and 0.5% on the remainder.
     
  2. cbreeze

    cbreeze Frequent Poster

    Posts:
    20
    progressive CU (balbriggan, skerries donabate and a few otherw)only paying .25%
     
  3. Annie51

    Annie51 Frequent Poster

    Posts:
    92
    St Jarlaths Credit Union, Tuam has a proposed dividend of .5%, AGM to be held next week.
     
  4. Wollran

    Wollran Frequent Poster

    Posts:
    87
    Wexford Credit Union 1.15%
     
  5. TheJackal

    TheJackal Frequent Poster

    Posts:
    184
    St Michael's Credit Union, Cork paying no dividend for at least the 3rd year in a row
     
  6. frankmac

    frankmac Frequent Poster

    Posts:
    192
    Dunleer, Co Louth, 1%
     
  7. 1dave123

    1dave123 Frequent Poster

    Posts:
    108
    Dundrum CU (incl Sandymount) 0.50%
     
  8. unsub

    unsub Frequent Poster

    Posts:
    50
    The dividend is only one part of the story. The interest rebate on interest paid on the member's loan in the last year is the more important part.

    New Ross Credit Union paid a dividend of 1% on shares and and a loan interest rebate of 20%. So a 10% loan interest nets out at 8%. It adds up to a tidy sum if you are paying off a large loan.
     
    MrEarl likes this.
  9. so-crates

    so-crates Frequent Poster

    Posts:
    1,655
    Carlow CU
    2014: 0.5%
    2015: 1%
    2016 directors are proposing (just announced - dividend is paid out in Feb): 0.5% and a loan interest rebate of 5%
     
  10. TheJackal

    TheJackal Frequent Poster

    Posts:
    184
    CANA CU paying 1.5% for 2016
     
  11. MrEarl

    MrEarl Frequent Poster

    Posts:
    1,016
    Agree 100%.

    In fact, we can take a further step back and ask what the initial lending rates are - because a CU providing loans at say 6% pa could be highly competitive for personal loans, but operating just above breakeven and as such, not be in a position to pay out a significant dividend or interest rebate. However, in the next breath, they are helping their members with competitively priced loans.

    It's interesting to see what Dividends are being paid by various Credit Unions, but it's definitely only one very small part of the story and when considered in isolation (particularly in the current economic climate when bond and deposit rates are near their all time lows) means little if anything.
     
  12. Audi_Driver

    Audi_Driver Frequent Poster

    Posts:
    40
    Wow, surly this must be one of the best returns in the country ?

    Any spare cash I'd have, I think I'd stick it into that CU.
     
  13. icb

    icb Registered User

    Posts:
    12