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The Irish Dental Credit Union’s telephone number is an answering machine only. The telephone number is 01 2946500.
The Irish Dental Credit Union is a limited company, an autonomous society sharing a large common membership with the Association. It is under statutory control like all other credit unions and is affiliated to the Irish League of Credit Unions, the umbrella body for all Credit Unions. Membership is confined to members of the dental profession, their spouses and children known as the Dental Common Bond.
The Dental Credit Union is a Savings and Loan Society.
Membership is obtained by completion of membership application forms.
Savings are termed shares with valuation at €1 per share. Loans are related to the number of shares. Both shares and loans are covered by a Life Insurance Policy.
Shares saved up to the age of 55 years are doubled in the event of death, savings after that date carry a slight reduction in value. Shares over the past 3 years have earned up to 3% dividend but this is variable from year to year
Members Savings (Shares) at present stand at over €2 million.
Loans and Savings Packages.
Better Interest Rates
Our Credit Union now has substantial assets, thanks to our members savings. We therefore have plentiful funds available now for surgery, home improvements or car purchase etc. Why pay interest to the banks when you can, in effect, pay interest to yourself and your colleagues, and build a fund for your future use or for your retirement, thus carrying on the tradition of mutual support within our profession.
The Credit Union interest rate is 0.7% on Reducing Loan Balances. That is an APR (annual percentage rate) of 9.38%. This is offered on unsecured loans, and it compares very competitively with the rates charged by banks and building societies.
Included in this APR , with a value of 1%, are additional benefits for members.
* Life Assurance of €3,250
* Savings up to €12,700 members’ savings up to the age of 55 years are doubled in the event of death. (Savings after 55 years are subject to pro-rata reductions to 70 years).
* Loans up to €38,000 are cancelled in the event of death.
Strong income returns
The Dental Credit Union has, over the years, declared very high returns on savings when compared to other institutions.
New Members Welcome
Members of the dental profession run the Credit Union on a voluntary basis. Membership is open to the profession and their families with the Dental Common Bond.
Loan repayments are by Standing Order only.
Members are also invited to become actively involved in running the Credit Union. |
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