Monthly Lodgement Cap

Prudent approach to financial market trends

In late 2022, as a result of a stable return to positive interest rates offered by banks on deposits and after guidance from Central Bank and in consultation with our Board, we made the decision to increase the existing savings cap of €30,000 to €50,000. However, to proactively manage, monitor and respond promptly to global market changes, we have moved to introduce a Monthly Lodgement Cap of €5,000 per member.  With a maximum total savings per member of €50,000 now in place. 


We must operate prudently, watching global financial trends so that we can respond in a timely and robust manner.  As a Credit Union, we are governed and regulated by the Central Bank of Ireland.  and their regulations mandate that all credit unions must hold a regulatory reserve of a minimum of 10% of their total assets. This means that for every additional €100,000 of savings, we must allocate €10,000 from our surplus/profits to our Capital Reserve, and this can have the effect of reducing the amount available to lend, to cover operational costs, etc. 


We have seen an increase in the amounts deposited into shares and this impacts our return on investment for monies held by our members.   The Monthly Lodgement Cap has no bearing on the day-to-day operations of the credit union.  In fact, the decision to have a Monthly Lodgement Cap reinforces and strengthens our Credit Union further.  We monitor the environment we operate in and ensure we take appropriate action well in advance of potential issues developing. 


By having a Monthly Lodgement Cap in place, this prevents a draw on our surplus in the coming years, an effect that would happen from having to maintain an excessive regulatory reserve due to excess savings.  We want to use our assets SMARTLY so that we can be your SMART choice Credit Union partner. 

Strong D15 Credit Union

We are a growing, strong, and resilient Credit Union, with appropriate reserves to increase and continue to lend to the wider community of Dublin 15.  In the last Financial Year ending September 30th, 2022, we held a total loan book of over €37 million, with over €19 million issued through the year and we have a total membership of over 18,000, an increase of over 1,500 new members.  We are definitely in a good financial position; the Monthly Lodgement Cap reinforces that position into the future for all of us. 

Does this affect you?

If you have less than €50,000 held in shares (combined across all your accounts) you can increase it to this amount, however, not beyond.  Our team monitor this on an ongoing basis and advise members accordingly. 


The previous Total Savings Cap of €30k is now €50k and that is per member and not per account and the new Monthly Lodgement Cap of €5,000 per member comes into effect from 30th January 2023. 


Each member’s shares are limited to a maximum of €50,000 of combined savings, whether they are in any of the following:  

Single share account  

Single Thrift/EFT account  

50% of the value of their joint share account(s)  

50% of the value of their joint Thrift / EFT account(s) 

How long will the cap last for? 

The Board of Directors at Blanchardstown & District Credit Union will keep the monthly lodgement cap under constant review, if they make any decision to change the cap, all members will be informed.

If you have a query, please feel free to contact us

You can email us at, you can call us on 01-820 3495 or call in to our offices and speak to a member of our team.