Nominee of Credit Union - Are all accounts amalgamated

[Bizzy]

Hi,

My Mother is deceased and had 2 Credit Union accounts in different Credit Unions. One Balance is approx €15,000 + (unknown) Insurance amount - possibly all insured at 100%. Nominee = Myself only
Second Credit Union was opened when she was over 55, so expect most not covered by insurance. Balance approx €8,000. Nominee Myself and 3 siblings (4 in total).

I expect the Insurance on Account One in CU One will bring amalgamated balance above €23,000.

Q Does the limit of €23,000 to Nominees without Probate apply to each Credit Union or are the 2 Credit Union totals amalgamated?
Q. Is the €23,000 limit applicable to the Account balance rather than the individuals receiving (ie. in the case of the CU 2 does each of the 4 Nominees receive Up to €23,000 without the amount gong into Probate)?

I hope my question is clear.

Many thanks

 

[Curlywurly]

Each Credit Union can release up to €23000 to the nominees without the need for Probate. If the savings, death benefit ( if any) and Insurance combined exceeds €23000 the excess is not usually released without seeing the Grant of Representation issued from the Probate Office. The death benefit can be paid by the Credit Union directly to the Undertakers on production of the bill.
Each Credit Union is a separate entity and has its own limit of €23000.
The €23000 is divided equally between the nominees.

 

[Feemar5]

You need to check insurance - most credit unions have discontinued paying this and I have been informed by my local credit union that the most they pay if any is around one thousand euros.