Good new on our dividend.
7 February, 2025We are delighted to share some good news!
At our recent AGM, a dividend of 0.5% was approved and qualifying members received their payment into their Share accounts on 31st January 2025. Remember – to be a qualifying member, you must maintain €5 in Shares at all times.
As a member of Aviate Credit Union, you are also an owner. Credit unions are not for profit organisations so any surplus generated is reinvested back into the credit union, set aside in the form of capital reserves or given back to members by way of a dividend.
Dividends are only considered following the finalisation of the audited financial statements and on review of the year-end results.
How do Dividends on your Share account work?
The balance of funds maintained in your member Share account throughout the year determines the amount of dividend you will receive. The higher the amount maintained, the greater your dividend. Funds held in any other balance accounts, for example, the Access account or Current account do not qualify for a dividend payment.
Taxation
All dividend payments are subject to Deposit Interest Retention Tax (D.I.R.T) which is deducted at source. i.e. by the credit union, and paid to Revenue Commissioners on your behalf. D.I.R.T is currently set at 33%. However, for those qualifying with exemptions, such as members aged 65 and over and meeting the total annual salary exemption limits, form DE1 must be fully completed and returned to the credit union. See full details on the DE1 form to see if you qualify.
Thank you
Again, we want to thank you for your continued loyalty. Our credit union is built on community values, local service, Not-for-profit and ensuring we support the financial wellbeing of all our members.
