# Access to deceased parents credit union money.



## Jane Marie (11 Oct 2021)

My mother died in 2019 leaving no will. Her only assets was her Credit Union Account of which I was the sole nominee.

As my mothers savings were €23,686.78  I only received €23,000  which was the maximum allowed before probate.
I have been trying to contact the Probate Office since early 2020 but only get answering machine and although I leave messages 
I have never got a reply.  My solicitor told me it would cost more than the €686.78 to take out probate .
Is there another way to go about retrieving the balance or how do I go about actually getting a reply from the Probate Office.

Thank you


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## Pinoy adventure (11 Oct 2021)

We gave our credit union a death cert  and they released funds after a week or two.


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## jpd (11 Oct 2021)

No - the law only allows CU to release 23,000 without probate - you can do the probate yourself without a solicitor and it will cost less than € 686 but a solicitor would cetrainly charge at least that


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## MrEarl (11 Oct 2021)

Don't forget to also check if the Credit Union had a death benefit scheme for its members, or other small level of life cover on members. Credit Unions have traditionally offered this as a free extra, although some of cancelled it in recent years.


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## Thirsty (16 Oct 2021)

I'm sorry for your loss.

I'm not sure what you expect the probate office to tell you.

In any event with no other assets, I'm not sure its worth becoming an administrator & applying for Grant of Probate.

My memory is that the probate fee alone was in the region of €750. Someone else may have more up to date figures.


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## Sue Ellen (16 Oct 2021)

Jane Marie said:


> My mother died in 2019 leaving no will. Her only assets was her Credit Union Account of which I was the sole nominee.
> 
> As my mothers savings were €23,686.78  I only received €23,000  which was the maximum allowed before probate.
> I have been trying to contact the Probate Office since early 2020 but only get answering machine and although I leave messages
> ...



As the financial institutions will often upon receipt of a copy of invoice from undertakers pay some of the funds towards the costs I'm just wondering if you could approach it from that angle.  If you paid the funeral costs yourselves you could try asking the credit union if they could pay the remaining €686.76 towards those if you give them a receipt.

We paid the funeral costs from a relative's bank account with receipt from undertakers and the bank transferred the remaining funds afterwards to the solicitor.


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## Jane Marie (17 Oct 2021)

Sue Ellen said:


> As the financial institutions will often upon receipt of a copy of invoice from undertakers pay some of the funds towards the costs I'm just wondering if you could approach it from that angle.  If you paid the funeral costs yourselves you could try asking the credit union if they could pay the remaining €686.76 towards those if you give them a receipt.
> 
> We paid the funeral costs from a relative's bank account with receipt from undertakers and the bank transferred the remaining funds afterwards to the solicitor.


Thank you all  for your helpful advice.  I will try presenting the undertakers receipt to the C,U, and see what happens.


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## Paul O Mahoney (18 Oct 2021)

Sue Ellen said:


> As the financial institutions will often upon receipt of a copy of invoice from undertakers pay some of the funds towards the costs I'm just wondering if you could approach it from that angle.  If you paid the funeral costs yourselves you could try asking the credit union if they could pay the remaining €686.76 towards those if you give them a receipt.
> 
> We paid the funeral costs from a relative's bank account with receipt from undertakers and the bank transferred the remaining funds afterwards to the solicitor.


Just to further this we did exactly that last week,  brought the invoice to the bank and it was "faxed" to "bereavement payments " and they paid out of the deceased bank account, and this while the will hasn't been discharged by the solicitor. 
Its certainly doable via banks don't know about CUs though.


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## RetirementPlan (19 Oct 2021)

Paul O Mahoney said:


> Just to further this we did exactly that last week,  brought the invoice to the bank and it was "faxed" to "bereavement payments " and they paid out of the deceased bank account, and this while the will hasn't been discharged by the solicitor.
> Its certainly doable via banks don't know about CUs though.


'faxed'? Seriously? In 2021?

Sorry for your loss.


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## Paul O Mahoney (19 Oct 2021)

RetirementPlan said:


> 'faxed'? Seriously? In 2021?
> 
> Sorry for your loss.


Seriously, I brought in the invoice the girl added a few bits, probably account references and faxed it there and then.

Thanks she had a good innings almost 92


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## Laughahalla (25 Oct 2021)

There should be death insurance on the account too from the credit union. Some credit unions will try get out of paying so be sure to assert yourself when dealing with them. They might even say because the balance is below the threshold for being eligible even though the balance was above it at the time of death.

Some Credit unions will be sneaky cute hooors while other credit unions will be only too happy to help you.

I once had to ask for the credit union rule book as they once tried to get out of paying out on the insurance. They made it unbelievable difficult but in the end they paid out as they hadn't followed their own rules when dealing with the account.


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## noproblem (25 Oct 2021)

Laughahalla said:


> There should be death insurance on the account too from the credit union. Some credit unions will try get out of paying so be sure to assert yourself when dealing with them. They might even say because the balance is below the threshold for being eligible even though the balance was above it at the time of death.
> 
> Some Credit unions will be sneaky cute hooors while other credit unions will be only too happy to help you.
> 
> I once had to ask for the credit union rule book as they once tried to get out of paying out on the insurance. They made it unbelievable difficult but in the end they paid out as they hadn't followed their own rules when dealing with the account.


I always thought that Credit Unions only pay this out depending on the persons age when they die.


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## Sconeandjam (25 Oct 2021)

noproblem said:


> I always thought that Credit Unions only pay this out depending on the persons age when they die.


The life savings insurance is paid based up to the balance left in the account from when the person reaches 70. Details
from cu website….
*How is the Life Savings benefit calculated?*
The benefit is calculated by multiplying the relevant savings amount by a percentage determined by your age at your death. See the age categories and percentages applicable below:

Benefit percentages at each age category

Member dies before age 55 100%

Member dies between ages 55-59 75%

Member dies between ages 60-64 50%

Member dies between at age 65 or greater 25%

The relevant savings amount for a member under age 70 is the saving balance at the date of death. For a member over age 70, it is the lowest savings balance from age 70 to your date of death. Note that any withdrawal of savings made after age 70 will reduce the benefit payable. The maximum savings amount that can be used to calculate the life savings benefit is €3,000 maximum.

You have to keep on top of credit unions as they will not want to pay out. 
My mum was told to close her account as she was moving from one credit union to another. This was incorrect advice. This would mean her insurance and credit rating would be lost. Should have transferred details not close account. I had to ring the manager and threaten to complain to the regulator on order for my mother to have her details transferred. manager said they know nothing about it. I had to give them the details on the rules in order to protect insurance and rating. Mum got an apology.

Jane Marie check if your Mum was covered under the insurance.


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## Paul O Mahoney (26 Oct 2021)

Sconeandjam said:


> The life savings insurance is paid based up to the balance left in the account from when the person reaches 70. Details
> from cu website….
> *How is the Life Savings benefit calculated?*
> The benefit is calculated by multiplying the relevant savings amount by a percentage determined by your age at your death. See the age categories and percentages applicable below:
> ...


Wait until I show my mother this she'll have a fit.
I wonder if CUs payments into this insurance company owned by league I believe,  could be wrong ,had reduced from what they were?

I have to say this has taken me aback.


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## RetirementPlan (26 Oct 2021)

Paul O Mahoney said:


> Wait until I show my mother this she'll have a fit.
> I wonder if CUs payments into this insurance company owned by league I believe,  could be wrong ,had reduced from what they were?
> 
> I have to say this has taken me aback.





Sconeandjam said:


> The life savings insurance is paid based up to the balance left in the account from when the person reaches 70. Details
> from cu website….
> *How is the Life Savings benefit calculated?*
> The benefit is calculated by multiplying the relevant savings amount by a percentage determined by your age at your death. See the age categories and percentages applicable below:
> ...


Do these rules apply to EVERY CU?


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## Sconeandjam (31 Oct 2021)

RetirementPlan said:


> Do these rules apply to EVERY CU?


Sorry I have not been here to reply.
 This applies to all credit unions that are members of the league. I know my local cu wanted to reduce the payout. Over the years I have watched this with interest and informed others of this insurance that the credit union provide.
 They do have an addition insurance policy and you pay €40/€50 per year and you get around €2k payout or something close to it. 
I know of a family had to get onto the league to investigate another credit union that did not want to pay the life savings payment.
I will see if I can find the information in the leagues rules. I have a book somewhere.


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## Sconeandjam (31 Oct 2021)

RetirementPlan said:


> Do these rules apply to EVERY CU?


They have to be part of the league.


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## Sconeandjam (31 Oct 2021)

Paul O Mahoney said:


> Wait until I show my mother this she'll have a fit.
> I wonder if CUs payments into this insurance company owned by league I believe,  could be wrong ,had reduced from what they were?
> 
> I have to say this has taken me aback.


Sorry I could not reply sooner.
They have be part of the league. The cu pay into the scheme as a form of insurance. If you get a loan of a ‘certain age’  the loan application and contract, it says that if you die the loan will be paid out of the shares and insurance. 
The cu did try to reduce the payout a few years ago for new members.


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## Paul O Mahoney (31 Oct 2021)

Sconeandjam said:


> Sorry I could not reply sooner.
> They have be part of the league. The cu pay into the scheme as a form of insurance. If you get a loan of a ‘certain age’  the loan application and contract, it says that if you die the loan will be paid out of the shares and insurance.
> The cu did try to reduce the payout a few years ago for new members.


That was the way I recall it, but also in 2004 when I was doing a bit of work for one,  large community based one, the loan was paid off and saving were matched to €12,750  or £10,000 , my mother thought this was every account 
and  has multiple accounts at 12700, I told her years ago that they'd pay out on one....not all, but that now also seems in jeopardy. She said " my funeral money is safe" even at the one payment scenario, if that makes sense

What was posted seems that only 25% max to 3k will be paid? Again if I'm interpreting this correct. 

I'm not  telling her, btw just as executor of the will(s) I need to understand this.
"They " have no loans either.


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## RedOnion (31 Oct 2021)

Paul O Mahoney said:


> What was posted seems that only 25% max to 3k will be paid? Again if I'm interpreting this correct.


Not every CU is the same, so check with your CU. With mine, it depends on when the money was saved, not the age the member dies.

"Life Savings Insurance is the life insurance cover the Credit Union provides for its eligible members as an additional incentive for them to save regularly. The amount of insurance benefit to which a member is entitled is in proportion to the amount of savings the member has, and depends on the members age at date of lodgement.

Subject to a maximum benefit set by you Credit Union, every €1 you save before the age of 55 provides €1 of insurance. Once you are over the age of 55 each €1 you save with your credit union provides the following benefit:


€1 saved between ages 55-59 provides €0.75 insurance
€1 saved between ages 60-64 provides €0.50 insurance
€1 saved between ages 65-69 provides €0.25 insurance
No insurance is payable on amounts saved after your 70th Birthday."


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## Paul O Mahoney (31 Oct 2021)

RedOnion said:


> Not every CU is the same, so check with your CU. With mine, it depends on when the money was saved, not the age the member dies.
> 
> "Life Savings Insurance is the life insurance cover the Credit Union provides for its eligible members as an additional incentive for them to save regularly. The amount of insurance benefit to which a member is entitled is in proportion to the amount of savings the member has, and depends on the members age at date of lodgement.
> 
> ...


Thank you,


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## RetirementPlan (2 Nov 2021)

Sconeandjam said:


> They have to be part of the league.


Don't think all CUs have to be part of the League. Isn't there a 'continuity League' out there too? https://www.cuda.ie/


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