NewsSavings Cap & Deposit Guarantee Scheme
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21-July-2017
Savings Cap & Deposit Guarantee Scheme
In early 2016 the Central Bank introduced a savings cap on all credit unions to a maximum of €100,000. Members who exceed this amount is savings will be contacted to withdraw the surplus funds. Unfortunately this is out of our control and we apologise to any of our members affected by this cap. This cap does not only include share accounts but a combination of shares, budget, CU Cash and Term Accounts.

Members should also note the Prison Service Credit Union is covered by the Deposit Guarantee Protection Scheme (see below).

Depositor Information Sheet

Basic information about the protection of your eligible deposits

Eligible deposits in Prison Service Credit Union Ltd (PSCU) are protected by:

the Deposit Guarantee Scheme (“DGS”)(1)

Limit of protection:

€100,000 per depositor per credit institution(2)

If you have more eligible deposits at the same credit institution:

All your eligible deposits at the same credit institution are ‘aggregated’ and the total is subject to the limit of €100,000(2)

If you have a joint account with other person(s):

The limit of €100,000 applies to each depositor separately(3)

Reimbursement period in case of credit institution’s failure:

20 working days(4)

Currency of reimbursement:

Euro

To contact Prison Service Credit Union Ltd for enquiries relating to your account:

Prison Service Credit Union Ltd

Mountjoy Prison

Dublin 7

01-8306262

info@priscu.ie

To contact the DGS for further information on compensation:

More information:

Deposit Guarantee Scheme

Central Bank of Ireland

New Wapping Street

North Wall Quay

Dublin 1

Tel: 1890-777777

Email: info@depositguarantee.ie

www.depositguarantee.ie


Contact Us
  • Prison Service Credit Union
  • Tel: 01 8858901
  • Email:
  • Web: www.priscu.ie
  • Address: P.O. Box 11666, Freepost F5145, Dublin 7
Contact Us
  • Tel 1:
  • Tel 2:
  • Email:
  • Address:
  • 01 8858901
  • 01 8306262
  • P.O. Box 11666, Freepost F5145, Dublin 7
Opening Hours
  • mon
  • tue
  • wed
  • thu
  • fri
  • 07:30-15:00
  • 07:30-15:00
  • 08:30-15:00
  • 07:30-15:00
  • 07:30-14:30
Prison Service Credit Union Ltd is Regulated by the Central Bank of Ireland. Reg No. 394