Dáil Éireann Debate, Wednesday - 17 September 2014
279. Deputy Stephen S. Donnelly asked the Minister for Finance further to the recent winding-up of Berehaven Credit Union, the losses, if any, which have been suffered by depositors at that credit union. [34260/14]
View answer281. Deputy Stephen S. Donnelly asked the Minister for Finance the total amount paid to date from the Central Bank of Ireland’s deposit guarantee scheme to depositors at Berehaven Credit Union; the total value of compensation cheques that have been cashed to date; the total value of compensation cheques that have not been cashed; the final date by which compensation cheques must be cashed; and if he will make a statement on the matter. [34262/14]
View answerI propose to take Questions Nos. 279 and 281 together.
I have been informed by the Central Bank, further to the recent winding-up of Berehaven Credit Union, that no depositor suffered a loss as a result of the liquidation of this credit union.
The Central Bank has confirmed that the Deposit Guarantee Scheme, DGS, has issued compensation payments of €11 million to approximately 3,500 depositors of Berehaven Credit Union. There is no deadline for the cashing of compensation cheques. However, cheques over six months old would not normally be accepted by credit institutions. In this regard cheques over six months old would have to be returned to the DGS for re-dating. Obligations of the DGS have been fulfilled in the issuing of compensation cheques. The Central Bank has informed me that it does not publish information on outstanding cheques that have not been presented for payment.
