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Covered

The DGS is activated where it has been determined that a credit institution is unable to repay its deposits.

Compensation payments for eligible deposits up to €100,000 are automatically sent to depositors.

Depositors do not need to make a claim in order to receive DGS compensation.

About the Deposit Guarantee Scheme

The Deposit Guarantee Scheme (DGS) protects depositors in the event of a bank, building society or credit union authorised by the Central Bank of Ireland being unable to repay deposits. The DGS is administered by the Central Bank of Ireland and is funded by the credit institutions covered by the scheme.

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News

10th July 2020

10Jul2020

Drumcondra and District Credit Union Compensation Payments Issued

10 July 2020: Deposit Guarantee Scheme Payments Issued. Following invocation of the Deposit Guarantee Scheme on 2 July 2020, the DGS has issued compensation payments by cheque to approximately 4,600 members of Drumcondra and District Credit Union. The total amount of compensation paid amounts to approximately €12.9 million representing over 95% of eligible deposits covered by the Scheme. Members should start receiving their payments shortly.

24th October 2017

24Oct2017

Charleville Credit Union Compensation Payments Issued

24 October 2017: Deposit Guarantee Scheme Payments Issued. Following invocation of the Deposit Guarantee Scheme on 13th October 2017, the DGS has issued compensation payments by cheque to approximately 10,900 members of Charleville Credit Union. The total amount of compensation paid amounts to approximately €39.2 million representing over 98% of eligible deposits covered by the Scheme. Members should start receiving their payments shortly.

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