Dáil Éireann Debate, Wednesday - 17 September 2014
280. Deputy Stephen S. Donnelly asked the Minister for Finance the number of depositors whose deposits were in excess of €100,000 at Berehaven Credit Union at the end of December 2011, December 2012, December 2013 and in July 2014 when the credit union was wound up; his views on these figures; and if he will make a statement on the matter. [34261/14]
View answerThe Central Bank has informed me that detailed information submitted by credit unions in their prudential returns is confidential and commercially sensitive. However, as reported to the Central Bank by Berehaven Credit Union Limited in its prudential returns there were a very small number of depositors with savings in excess of €100,000 at the end of December 2011 and December 2012 and no depositors with saving in excess of €100,000 at the end of December 2013.
For the purposes of the Deposit Guarantee Scheme - DGS - the relevant balances held in Berehaven Credit Union are those held at the time of liquidation in July 2014. In this regard no depositors held over €100,000 at that time.
The Financial Services (Deposit Guarantee Scheme) Act 2009 provides protection to depositors for eligible deposits up to €100,000 and safeguards all eligible deposits in Irish financial institutions. While the liquidation of this entity is a matter for the Central Bank, I am satisfied that all eligible depositors in Berehaven Credit Union received payment of their full deposits under the DGS.
