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Credit Union deductions from my share a/c...what are they?

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  • 12-12-2012 11:28am
    #1
    another question
    Closed Accounts Posts: 1,386 ✭✭✭


    Hi there,

    I logged into my CU a/c online and noticed that there were lots of transactions since yesterday.

    What is:

    1) AFFL

    2) DBI

    3) DONATION??

    I don't ever remember authorising a donation from my a/c?

    The other two transactions were the application of dividends and the subsequent DIRT on these.

    Thanks (1st year with the CU)


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  • Options
    #2
    badgerbroc11
    Registered Users Posts: 141 ✭✭badgerbroc11


    another question wrote: »
    Hi there,

    I logged into my CU a/c online and noticed that there were lots of transactions since yesterday.

    What is:

    1) AFFL

    2) DBI

    3) DONATION??
    (1st year with the CU)

    AFFL = Affiliation fee
    DBI = Death Benefit Insurance
    DONATION = Charitible donation.

    The affiliation fee is deducted and paid to the Irish league of credit unions aka membership fee.
    DBI will provide a small lump sum on your death. Some CUs deduct it as yours did, most pay it as an expense themselves.

    The donation is normally for either local charity's or third world charities.

    All of the above are voted on by members who attend the AGM.


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