Membership Rules

  • Admission to membership of the credit union is restricted to persons who share Esccu’s common bond which is an employee within the ICT sector.
  • One form of photo ID (Drivers Licence, Passport and is required and proof of address dated within 3 months.
  • Membership is only activated once there is a minimum of €10 lodges to their shares account
  • Membership is limited to and consist of persons having the following Common Bond
  • Persons who are currently in receipt of a continuing and regular contractual payment arising from their employment in the companies providing telecommunications services as outlined in the credit union rules registered on 14/01/2014
  • Any employees in a company in the ICT sector where the company signs and agreement with e-services & communications credit union limited permitting the credit union to provide its services to its employees
  • All those who were members on the 08/12/2015
  • Any other common bond approved by the Bank and as have been duly admitted members in accordance with the Rules and comply with the rules

An applicant shall be admitted to membership only when:

  • It shall have been determined that he/she is eligible for membership in accordance with Rule 4(1) above and
  • His/her application for membership has been approved by the affirmative vote of a majority of the Board or by a duly appointed and authorised membership committee or officer present at a meeting at which the application is considered; and
  • He/she has paid for a minimum of [10] share(s)
  • An individual who ceases to possess the common bond originally required to become a member, he/she may retain his/her membership and voting rights, and continue saving but any such member shall be left out of account in determining for any purpose whether a common bond exists between the members.
  • Membership ‘commences’ after due consideration of and upon official acceptance of the fully completed application form submitted by the applicant. Such due consideration has regard to any relevant provisions of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010.
  • Anyone under 16 years of age can be a member but cannot vote at any member meeting nor participate at Board or any committee level.
  • Any legal entity incorporated or unincorporated, the majority of whose members qualify to be members of Esccu, can itself be a standalone member of the credit union and rank equally alongside a natural person.

Refusal of Membership and Expulsion

Anyone who is refused membership of Esccu can appeal the decision through his/her local District Court. A member can be expelled from Esccu via a resolution passed by a two-thirds majority of the members at an SGM called for that purpose.  21 days' notice is given to the member. The member has a right to be heard at the meeting and can appeal the decision through his/her local District Court.

Cessation of Membership

  • On his/her withdrawal from Esccu
  • On ceasing to hold the minimum shareholding, in accordance with Rule 4 (2) (c)
  • On death
  • On expulsion from the credit union
  • 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
  • If, after admission, any defect is discovered in his qualification for membership at the time of his admission.

After Cessation of Membership

  • After an individual ceases to be a member of esccu, all savings and deposits held by the member less any outstanding loans, including any contingent liabilities or sums due by a guarantor are due to the member within a maximum of 60 days. Sec 19
  • If an individual ceases to be a member and has a net liability to esccu, such a cessation of membership does not relieve the ex-member of that liability.
  • Any liability due to esccu by an individual, active or otherwise, is recoverable under civil debt legislation.
  • If any member becomes bankrupt his/her property in esccu not automatically assigned to Esccu against a loan or guarantee of a loan shall be transferred or paid to the Official Assignee in Bankruptcy
  • If a member ceases to hold the minimum shareholding of 5 Shares or a period of 6 months from the date of being signed into membership his/her membership is deemed cancelled.


A member over 16 years of age may nominate a person or persons to become entitled at his/her death to the whole or any part of any property in esccu (whether in savings, loans, insurances or otherwise) which he/she may have at the date of that member’s death. This nomination is recorded in writing, signed by the member and kept at esccu’s registered office.

  • The value limit of such and above nomination is €23,000.
  • The original nomination can be revoked and replaced by subsequent nomination from the same member prior to his/her death but cannot be revoked by a provision contained within a will of the member executed after the member’s death.
  • If the member marries after such a nomination, this action revokes any existing nomination prior to marriage.
  • The nomination is also revoked if the nominee dies.
  • esccu keeps a record of all nominated persons, and all revocations or variations of nominations.
  • If the transfer of any shares comprised in a nomination in the manner directed by the nominator would raise the shareholding of any nominee beyond the maximum for the time being permitted in the credit union, the Board shall not transfer to that nominee more of those shares than will raise his/her shareholding to that maximum and shall pay him/her or transfer to his/her deposit account the value of any of those shares not transferred.
  • Where the nominee is under 16 years of age, the value of the nomination transfer is paid to a parent or guardian of the nominee or any other fit person as decided by esccu.

Death and mentally incapacitated

  • Where a member dies, the Board of directors may distribute a maximum of Euro 15,000 to those persons whom it decides (after review of relevant evidence to support such a decision) are entitled to such property prior to any estate administration or probate of will to discharge the member’s funeral vouched expenses and distribute the balance of the max 15,000 among such persons as appears to the Board to be entitled by law to make such request for payment and to receive the balance of the property
  • Where the Board of directors determines that a member is no longer legally or medically capable of managing their own affairs, esccu may distribute any net worth that the member may have in esccu to a person deemed fit and capable to receive such property.
  • Such a distribution will only take place after the person certifies to esccu that the funds will be applied to the best benefit of the incapable member and that the recipient is aware that any misapplication of such funds will result in civil or criminal proceedings.