€2.5m windfall for Cork credit union members

Gurranabraher Credit Union will announce details on Tuesday of a plan to repay contributions from a former death benefit insurance scheme it had to close
Gurranabraher Credit Union will announce details on Tuesday of a plan to repay contributions, totalling some €2.5m, made by its estimated 15,000 members into the DBI scheme it operated between 2003 and 2019, when a law change forced the scheme to cease. Picture: Larry Cummins

Gurranabraher Credit Union will announce details on Tuesday of a plan to repay contributions, totalling some €2.5m, made by its estimated 15,000 members into the DBI scheme it operated between 2003 and 2019, when a law change forced the scheme to cease. Picture: Larry Cummins

Tue, 02 Mar, 2021 - 11:14
Eoin English

Members of one of Cork’s biggest credit unions are set for an unexpected windfall from a former death benefit insurance (DBI) scheme it had to close.

Gurranabraher Credit Union will announce details on Tuesday of a plan to repay contributions, totalling some €2.5m, made by its estimated 15,000 members into the DBI scheme it operated between 2003 and 2019, when a law change forced the scheme to cease.

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