Posted on: 10-Nov-2016
10th November 2016 : Deposit Guarantee Scheme Compensation Payments Issued Following the invocation of the Deposit Guarantee Scheme (DGS) on 2nd of November 2016, the DGS has today issued compensation payments by cheque to approx. 9700 members of Rush Credit Union. The total amount of compensation paid to date amounts to €22.3 million, representing 98% of deposits covered by the Scheme. Members should start receiving their payments from 11th of November 2016.
Posted on: 16-Nov-2015
A new EU Directive on Deposit Guarantee Schemes (2014/49/EU) has been introduced. The EU Directive is aimed at harmonisation and simplification of protected deposits, a faster pay-out and improved financing of DGS schemes. In addition, new depositor information requirements have been introduced in order to ensure that depositors are the aware of the key aspects of protection of their deposits by the DGS.