Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Irish regulators change deposit insurance limit
BELFAST, Northern Ireland (12/13/11)--Northern Ireland's credit union members will have their deposits protected up to 85,000 euros (roughly $112,000), said the country's Financial Services Authority (FSA) and Her Majesty's Treasury.

The change will go into effect March 31 when regulation of Northern Ireland's 177 credit unions is passed to FSA from the Northern Ireland Department of Enterprise and Investment (bankingtimes.co.uk Dec. 11 and compliancy-services.co.uk Dec. 9).

With the move, credit union members will have the same protections as customers using banks, and will have access to the Financial Ombudsmen Service, Martin Stewart, FSA head of building societies and credit unions, told Banking Times.

FSA will help credit unions prepare for the transfer by hosting road shows in several Northern Ireland cities, Stewart added.


RSS print
News Now LiveWire
RT @IllinoisLeague: Premier CU CEO Jim Roche to @TheNCUA: You're looking at this on a micro level. This will put us back 25 yrs. #fixRBC ht…
8 minutes ago
Matz says # of late filers is going down but @TheNCUA had been too lenient. Still, if CU files late w/valid excus, will not be penalized.
10 minutes ago
.@TheNCUA #listeningsession is for all CU topics: CU asks about penalties for late filers of Call Reports. Next tweet--see Matz response.
14 minutes ago
Matz: We don't want to make it more difficult for you to do business but want you to do business safely 2of2 #listeningsession
24 minutes ago
Matz responds:GAO is pushing us; we are going forward; but whether we include concentration/IRR risk we are going to take another look.1of2
24 minutes ago