Rule 10. Minimum number
The minimum number of members of the credit union at any time shall be fifteen
Rule 11. Membership
Membership shall be limited to and consist of the signatories to the application to register the credit union and such other persons having the following common bond:
- Incorporating Pearse Credit Union Ltd:- residents of Westland Row Parish , City Quay Parish and Ringsend together with second and third level students with student cards confirming attendance at educational entities located within the aforementioned common bond of Pearse Credit Union Ltd
- Incorporating St Laurence O’Toole Credit Union Ltd:- residents of Laurence O’Toole Parish, From – Amiens Street – Custom House Quay – North Wall Quay – Alexander Basin – Alexander Quay – Upper Sheriff Street – Spencer Dock – Seville Place together with second and third level students with student cards confirming attendance at educational entities located within the aforementioned common bond of St Laurence O’Toole Credit Union Ltd
- All permanent, continuous and contract employees of ESB and its subsidiaries together with retirees from ESB and its subsidiaries
- And all permanent, continuous and contract employees of Savvi Credit Union (ESB Staff) Ltd together with retirees from Savvi Credit Union (ESB Staff) Ltd.
- all permanent, continuous and contract employees of Mediahuis Ireland Ltd (formerly Independent News and Media PLC (INM)) and is subsidiary companies, retirees of Mediahuis Ireland Ltd (formerly Independent News and Media PLC (INM)) and its subsidiary companies.
- Together with members of the families of any of the previously mentioned members.
- Together with students of second and third level accredited educational bodies within the Savvi Credit Union geographical Common Bond
Has/ have been duly admitted members of the credit union in accordance with these rules and comply with such of the rules as relate to membership and including, if otherwise qualified, such other persons as were members of the unincorporated body known as
St. Patrick’s Credit Union (ESB Staff) Study Group
immediately before the date on which such body secured registration as
St. Patrick’s Credit Union (ESB Staff) Ltd.
Rule 12. Application for membership
Each application for membership must be in writing and must be approved in the manner set forth in rule 13 in accordance with the relevant form set out in the appendix hereto.
Rule 13. Qualifications for membership
- An applicant shall be admitted to membership only when:
- it shall have been determined that he is eligible for membership in accordance with rule 11; and
- his application for membership shall have been approved by the affirmative vote of a majority of the board of directors or by a duly appointed and authorised membership committee present at a meeting at which the application is considered, or by a duly appointed and authorised Membership Officer; and
- he has paid an entrance fee of …€1.27……………. (not more than €1.27); and
- he has paid for a minimum of _€1____ share(s) (this minimum to be at least one and not more than ten or such larger number of shares as may be prescribed by the Minister) in the credit union; and
- A person shall be treated as having the qualification required for admission to membership of the credit union if he is a member of the same household as, and is a member of the family of, another person who is a member of the credit union and who has a direct common bond with those other members. However, a child or stepchild of a member, where such child or step-child is under the age of 18 years and living outside the common bond but resident in the Republic of Ireland or the United Kingdom, shall not be precluded from membership of the credit union.
- A person so admitted to membership of the credit union shall assist in financing the Irish League of Credit Unions in accordance with Rule 109 (6).
Rule 14. Person under age 16
- A person under the age of sixteen:
- may be a member of the credit union, and
- subject to paragraph (2), may enjoy all the rights of membership, other than voting rights, and can give all necessary receipts
- Notwithstanding anything in paragraph (1), a member of the credit union who is not of full age may not be a member of the board of directors or of a principal committee or an office manager of the credit union.
- Where the member under age sixteen cannot give the necessary receipts, the signature of the parent or guardian, at the discretion of the board of directors, will be sufficient.
Rule 15. Incorporated or unincorporated body
Notwithstanding any other provision in these rules, a body (whether incorporated or unincorporated), the majority of the members of which are, and continue to be, eligible for membership of the credit union may itself be admitted to, and retain membership of, the credit union, with the same rights and obligations as a natural person but, on application, made in accordance with the relevant form in the appendix hereto, must submit a copy of its rules and a copy of the resolution from its governing body authorising application for membership.
Rule 16. Appeal against refusal of membership
- A person who applies for membership of the credit union in accordance with the rules and is refused membership may appeal against the refusal in accordance with section 18 of the Act.
Rule 17. Member ceasing to have the common bond
- A member who held the common bond of the credit union shall not cease to be a member solely because that member no longer holds the common bond of the credit union.
- If a member of a credit union ceases to have the common bond required of members of that credit union, any such member (referred to as a non-qualifying member) shall be left out of account in determining for any purpose whether a common bond exists between the members of the credit union.
Rule 18. Non-exclusion
A member of the credit union shall not be excluded from membership by any amendment of the credit union’s rules registered after he became a member.
Rule 19. Dormant accounts
The credit union may deal with shares and deposit accounts as hereinafter provided when there has been no member initiated transaction on the account for a period of three years and when no reply has been received within thirty days from the member to a notice sent, by ordinary post, to him at his last known address, of intent by the credit union to close the account(s). Such share and deposit accounts shall then be transferred to the reserve account. Dividends and interest shall continue to be payable on such accounts.
Rule 20. Cesser of membership
A person ceases to be a member:
- on his withdrawal from the credit union; or
- on ceasing to hold the minimum shareholding, in accordance with rule 13(iv); or
- on death; or
- on expulsion from the credit union; or
- in the case of a member other than a natural person, on its dissolution, or the taking of an effective action to wind it up; or
- if, after admission, any defect is discovered in his qualification for membership at the time of his admission.
Rule 21. Forfeiture of payments on shares
Written notice to his last known address shall be sent to any person who ceases to hold the minimum shareholding in accordance with rule 13(iv) after he has been admitted to membership, which notice shall state that his membership of the credit union has ceased in accordance with rule 20(b).
Rule 22. Expulsion and withdrawal
- A member may be expelled from the credit union by a resolution for his expulsion passed by not less than two-thirds of the members present and voting at a special general meeting called for the purpose, provided that the member concerned:
- is given at least twenty one days’ notice in writing of the meeting and the proposed resolution; and
- is given a reasonable opportunity of being heard at the meeting.
- A member who is expelled from the credit union may appeal against the expulsion to a Judge of the District Court for the district in which the registered office of the credit union is situated.
- A member of the credit union may withdraw from membership of the credit union at any time, by notice in writing to the credit union, subject to the provisions governing the withdrawal of moneys from the credit union contained in these rules.
- Subject to paragraphs (5) and (6), all moneys due in respect of withdrawable shares and deposits by the credit union to a member who withdraws or is expelled from the credit union shall be paid to him after deduction of all moneys due from him to the credit union; and the nominal value of non-withdrawable shares held by a member who is expelled (but not one who withdraws) may also be paid to him (after deduction of all moneys so due).
- Notwithstanding anything in these rules or in any contract, the credit union may, if it thinks fit, postpone payment of the whole or any part of the moneys to be paid as mentioned in paragraph (4) until the end of the period of sixty days beginning on the date of the expulsion or withdrawal of the member concerned.
- No payment in respect of shares shall be made by the credit union to a withdrawing or expelled member while any claim due on account of deposits is unsatisfied and no payment of any description shall be made to such a member unless all his liabilities (including contingent liabilities) to the credit union, whether as borrower, guarantor or otherwise, have been fully discharged or otherwise fully provided for by a person other than the credit union.
- The withdrawal or expulsion of a member from the credit union shall not operate to relieve that member from any liability to the credit union which exists at the time of the withdrawal or expulsion.