The Central Bank is to spend up to €500,000 on printing and personalising cheques for people who may lose their bank savings as part of the deposit guarantee scheme. The bank, which operates as Ireland’s financial regulator, has invited applications to tender for the contract to produce and distribute the cheques in question. That payout served to cover roughly 95% of the deposits held in the credit union at the time of its failure. The largest payout prior to that event was €39.2m to the 11,000 members of the Charleville Credit Union from October 2017. That institution failed as a result of being unable to meet its statutorily required cash reserve levels after a series of failed merger attempts.

Source: Irish Examiner March 17, 2026 14:39 UTC