Set up my nomination

Who’s Your Nomination?

Credit Unions have a nomination facility where you nominate someone to receive the property of your Credit Union account in the event of your death. It is a legally binding, written instruction. The nomination service is valuable to members as it allows access to nominated funds by the nominee within a very short period of the member’s death. And while it will not relieve the loss suffered by the nominee, it reduces potential cash-flow difficulties.


Members of the Credit Union can nominate a person to receive their Credit Union Shares and insurance benefits (if any) up to €23,000 on their death. Any funds above €23,000 are included in the deceased’s estate.

A member can nominate anyone; family, a friend, or several people. Members must review their nominations regularly.

Yes, by filling in a new nomination form. You should review your nomination when there is a change to your circumstances (e.g., marriage, divorce, or separation). A nomination is automatically revoked if you get married. So, if, for example, you had nominated your sister in the past and you have since gotten married, you’ll need to update your nomination if you want to keep her as the nomination; otherwise, your new spouse is named as your nomination.

If you had joined as a child, you would not have completed a nomination form. Once you reach the age of 16 you will need to fill out the nomination form.

No, there is no cost for setting up or changing a nomination.

  • This person or persons (who need not be a member of the credit union or next of kin) cannot be an officer of the credit union unless they are also a member of the family of the nominator, nor can the nomination be to a body that is not a named person, i.e., a company/charity.
  • A nomination can only be made regarding a member’s sole account.
  • Where the member nominates only one person, they will be the sole beneficiary of their credit union property on death if the amount is equal to or less than the statutory maximum.
  • For members that elect not to complete a nomination, the proceeds of their account will form part of their estate on death and will be dealt with under the terms of their Will, under the rules of intestacy if there is no Will, or under the small payments provision. *
  • A nomination is not revocable or variable by the terms of a Will or by a codicil to a Will. The nominated property does not form part of a deceased person’s estate.
  • A nomination is automatically revoked when the nominee dies before the account holder. In this case, a new nomination should be completed.
  • When a nomination is made to a person under 16, their parent/guardian/ or another appropriate person of full age who signs a receipt and indemnity.

*Small Payments Provision: Where no valid nomination exists and the amount in the member’s account is under €15,000 in total (including insurance, etc.), the board of directors of the credit union may, without letters of administration or probate of any Will, distribute their property in the credit union to such persons as appears to the board to be entitled by law to receive it.

Set up my nomination

How to Set Up My Nomination

A completed nomination must be signed and witnessed in the branch; a staff member will help you complete the relevant form and witness your signature. Speak with us today if you need any additional information.

If you would like more information please contact Wexford Credit Union today.

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