Membership
“I have been a member of Waterford Credit Union for a few years but mainly used my account for saving. I didn’t realise they had so much to offer to be honest. When my bank moved to self-service machines, I missed the personal touch so I switched my current account over WCU. I get my wages paid directly in. I find the mobile app ideal for keeping tabs on my bills and spending!“
– Aoife, Dunmore Road.
We provide a wide range of services to help you manage your finance.
- 95% Loan Applications approved
- Easy Loan Application Process
- Quick Loan Decision
- No saving history required when borrowing
- Flexible Loan Repayment Options
- Free Loan Protection Insurance
- No Transaction Fees on personal accounts
- No Penalties for Early Loan Repayment
- Payment Protection Insurance (optional)
- Competitive Loan Rates
- Online Banking & Mobile App
- Potential Interest Rebate
Please note: In effect from March 2021, there is a share cap in place of €15,000 per Adult member account (over 16 years), and a share cap in place of €10,000 for Kids accounts (under 16 years).
All members have access to multiple sections within their account;
- Shares – this is your main savings account
- Stamp – this is a secondary savings account (some members may use the stamp section to save if their shares are held as security for a loan)
- EFT (Electronic Funds Transfer) – this section can be used for bill payments, standing orders etc.
- Current – this is a full service Current Account
Why not join us today and let us look after you.
Who can become a member?
Once you live, work or study within the ‘Common Bond’, you can become a member of Waterford Credit Union. The ‘Common Bond’ is the characteristic that unites all members of our Credit Union. It defines the area in which our Credit Union can operate and those who are eligible for membership. During 2019 we merged with Tramore Credit Union and proudly extended our common bond to include Tramore and its surrounding areas.
We operate from three offices, Parnell Street | Upper Grange | Tramore
Details of Waterford Credit Union’s Common Bond are available on request from either of our offices.
You may also join by association. To do so, you must be living in the same house as a person with an account in Waterford Credit Union.
Members can have just 1x Personal Account with Waterford Credit Union. (1 Personal Account &1 Joint Acc allowed)
Click the above tab ‘What you Need’ for more information.
Types of accounts:
- Personal/Single Accounts (over 16 years)
- Joint Accounts (cannot be opened online – please email member-services@waterfordcu.ie)
- Teen Accounts (12-15 years)
- Minor Accounts (0-11 years)
- *Business Accounts (cannot be opened online – please email member-services@waterfordcu.ie)
(*Please note: We are currently not opening new business accounts)
Types of accounts
Personal Account
Joint Account
Minor & Teen Accounts
Why not join us today and let us look after you.
Personal Account (over 16 years)
Documents required when opening a Personal Account:
- One form of Photographic Identification:
Passport, Driving Licence, National Identity Card (EU Only), Age Card plus Birth Certificate, Birth Certificate plus WCU Identify Form (with passport photo).
- One form of Address verification dated within the last 3 months: current utility bill (gas, electricity, landline telephone), current bank statement, Government issued documentation, social welfare documentation, correspondence from the Revenue.
(Note: Payslips or Mobile Phone bills are not accepted for Proof of Address).
- Proof of PPS number: medical card, DPS card, Government letter, payslip etc.
(Please note: We can not accept the Public Services card for proof of PPS or Photographic ID. New medical cards issued does not contain PPS number).
Please Note: The Member Services Area for opening new accounts closes 30 minutes before closing time, i.e 4.30pm (3.30pm on Tuesdays).
Minor Accounts (0-11 years)
Each new junior saver account (under 11 years) opened in WCU will receive a Junior Savers Reward Card and a WCU goodie-bag.
For each lodgement (minimum €5) the junior saver makes to their account, they will receive 1x sticker which will be placed on their Junior Saver Reward Card. When 4x stickers are collected, Waterford CU will lodge €10 to their shares.
Open a Junior Savers Account (minor ac) by dropping into one of our offices at Parnell Street, Upper Grange or Tramore. Terms and Conditions apply – full details available in branch.
Minor accounts (0-11 years) must now be opened by the minor’s legal parent or guardian only. The parent/guardian will have authority to operate the account up to the child’s 12th birthday.
Documents required to open a minor account:
Minor Identification:
- A Birth Certificate; for proof of parentage.
- Valid Irish or other State Passport
- Proof of the minor’s PPS number, e.g. medical card, government letter
Parent/Guardian Identification:
- Valid Passport
- Driver Licence
- Age Card plus Birth Certificate
- National Identity Card (EU only)
- Birth Certificate plus WCU Identity Form
- Proof of Address (dated within 3 months); Current bank statement, Utility Bill, Government or Revenue issued documentation.
Teen Account (12-15 years):
Teen Accounts can be opened/closed without a parent/guardian’s consent. Teen members can avail of a Current Account and Debit Card but requires parental consent to do so. Members under 16 years do not have access to online and mobile banking.
If the teen wishes, they can complete an account mandate to allow a parent/guardian have access to their account.
Documents required to open a Teen Account:
- Identification: Passport or Birth Certificate
- Proof of Address: Letter from school or Letter from GP, Dentist, Hospital.
- Proof of PPS: Medical Card, DPS Card, Government letter.
(Note: Proof of address must be dated within 6 months.)
Documents required for opening a Business Account:
(Please note: We are currently not opening new business accounts)
- Photographic Identification for each beneficial owner of the account
- Address verification (dated within the last 3 months) for each beneficial owner of the account
- PPSN for each beneficial owner – payslip, revenue documentation, medical card, any social welfare
documentation - Proof of Business Address
- Original or Certified copy of the Certificate of Registration/Certification to Trade of that Business Name –
only required if registered with the Companies Registration Office - A full listing of all beneficial owners
- Where the business is incorporated under the Companies Act – confirmation that the beneficial owners have been registered with the Central Banks Register of Beneficial Owners
- Most recent set of Certified Audited Accounts (if available)
- Copy of the resolution from the governing body authorising application for membership (where applicable)
- List of all company Directors, names, addresses, occupation, date of birth and voting rights of each (where applicable)
- Certificate of Incorporation (limited company only)
- Memorandum & Articles of Association (limited company only
- Written confirmation from your accountant that the transactions on the account are consistent with the
business generating the funds - Written confirmation from your accountant that withdrawals from the account are credited to the account of
the business which generated the funds
Please note certain documentation will be required to be provided annually to our Finance Department.
The above items are all requirements of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.
Financial institutions in Ireland, such as Credit Unions, are required under legislation namely, the Organisation for Economic Cooperation and Development (OECD) Common Reporting Standard (CRS), to seek answers to certain questions for purposes of identifying accounts that are reportable to the Irish Revenue Commissioners for onward transmission to tax authorities in relevant jurisdiction(s). The Common Reporting Standards (CRS) is a legal framework which requires Waterford Credit Union to report details of financial accounts held by reportable persons (i.e. customers who are not tax resident in the Republic of Ireland) to the Irish Revenue on an annual basis who will then exchange this information with tax authorities in relevant jurisdictions. We will ask you to fill out self-certification form prior to account opening. The self-certification form will capture information on your Tax-residency status, Tax Identification Number (TIN) and Country of tax residence.
Further details are available in the downloads section of our website.
