Member Benefits
In addition to a number of optional “Peopl” Insurance Products, we offer valuable insurance benefits at no direct charge to Members.
The Credit Union covers the cost of a range of insurance products which are outlined below;
Life Benefit Insurance Cover
Did you know that Life Benefit Insurance Cover is provided by Blanchardstown & District Credit Union (BDCU), at no direct cost to eligible members, as an additional incentive to save regularly and maintain active savings with us? As of 1st May 2025, the maximum Life Savings Insurance benefit payable on Special Shares is €20,000 and the minimum amount payable for all members is €1,000 subject to a minimum shares balance of €250. This benefit will be paid to the person(s) nominated by the deceased member.
Benefits & Features of Life Benefit Insurance
The advantages of Life Benefit Insurance Cover with BDCU means that your nominee, as chosen by you on your Nomination Form, could receive a financial sum, up to a maximum of €20,000, in the event of your death, subject to policy terms and conditions.
The amount of insurance benefit that an eligible member is entitled to is related to their age at death and the balance in their account on that day. The health of a member at the time of depositing may also impact the amount a member will be entitled to.
If a member withdraws from their shares/savings this may affect the amount added to their account on death and subsequently paid out to their nominee as part of their estate. Members must have joined the Credit Union before their 71st Birthday and must be fit to follow their normal occupation or duties.
Loan Protection Insurance
Loan Protection Insurance is a Credit Union group insurance product that benefits both the Credit Union and all eligible members who take out a Credit Union Loan. Credit Union members who have a loan outstanding at the time of their death may be entitled to have this loan repaid in full rather than the debt being passed on to the members estate. Loan Protection insurance provides a peace of mind to both the Credit Union and members ensuring that the ‘’debt shall die with the debtor’’.*
Key Features of Loan Protection Insurance
- Max cover of €100,000
- Max age 85 years old
- Max cover after age 70 years €40,000
- Joint Account Cover
Death Benefit Insurance
The main purpose of Death Benefit Insurance is to provide extra Insurance to our Members in the event of their death. With Blanchardstown & District Credit Union Ltd., the benefit offered is €2,600 and is paid to the next of kin/dependants of eligible members to help with funeral expenses.
You are eligible for this insurance provided you:
- Joined the credit union before 71 years of age
- Have been a member for more than 6 Months & remained a member of the credit union
- Have a balance in your shares of at least €380, at the time of death
On a Joint account, only the first named person is covered. The second named person can open a sole account to ensure they are covered too.
If you have any questions relating to Life Benefit Insurance, Loan Protection Insurance, Death Benefit Insurance or your nominations form, you can email, info@blanchardstowncu.ie and a member of our team will contact you.
Alternatively, you can visit our offices (Monday – Saturday) or phone our office on 01-820 3495 and a member of our team will be happy to help you.
*Policy terms and conditions apply to all of the above insurance products.
Blanchardstown & District Credit Union is regulated by the Central Bank of Ireland.