Unless otherwise requested, all accounts are opened as Special Share Accounts.

Regular Share Account

This account is the traditional credit union share account. If you have a regular share account, you must declare the dividend you receive in your annual tax return and are liable to pay tax on it at your marginal tax rate.

Special Share Account

This account is the very same as the regular share account in every way except that the members tax liability on the dividends earned is discharged by means of DIRT tax at the standard rate of tax. This can represent a saving to some members who would normally be liable for tax at the highest marginal rate.