How much of my deposits are covered?

€100,000 per member per credit union under the Deposit Guarantee Scheme, doubling to €200,000 where two members share a joint account.

What happens if Accesscu fails?

The DGS pays your covered balance directly, with payout targeted within seven working days of the failure being formally confirmed.

How do I claim from the Deposit Guarantee Scheme?

You don't need to apply — the scheme matches member records, notifies you, and transfers covered funds to a nominated account of yours.

Are joint accounts covered up to €200,000?

Yes — cover runs per member, so a joint account held by two members carries up to €200,000 of DGS protection.

What happens to money above €100,000?

Anything above €100,000 per member is not covered and is handled by the failed institution's liquidator; we advise splitting large balances across DGS-covered credit unions.

Accesscu Deposit Insurance

Every euro on deposit is insured to €100,000 by the state-backed Deposit Guarantee Scheme — here is the cover, the limits and the claim process.

The official methodology is detailed in the main overview.

Deposit Insurance at a Glance

Each member at Accesscu is covered up to €100,000 for money in savings, checking, term deposits or business savings accounts.
Two members sharing a joint account have €200,000 of cover between them — €100,000 per named holder.
The Deposit Guarantee Scheme is administered under the Central Bank of Ireland, and payouts are targeted within seven working days.
Not covered: stocks, funds, crypto-assets, and any single-member balance above €100,000 or joint-account balance above €200,000.

How Much Cover You Get

Deposits are insured to €100,000 per member per institution under the Republic of Ireland Deposit Guarantee Scheme, rising to €200,000 where two members share a joint account.

The cover is per member, not per account. All of your balances at Accesscu — savings, checking, term deposits and business savings — count towards one €100,000 limit, and interest accrued at the failure date is included.

The European scheme standard of €100,000 is funded by levies on deposit-taking institutions, which is why DGS protection costs members zero in fees or premiums.

Account type	Cover per member
Savings account (1.0–2.5% AER)	€100,000
Checking account (€0 monthly fee)	€100,000
Term deposit (3.1% AER)	€100,000
Business savings (2.0% AER)	€100,000
Joint account (two members)	€200,000

How the Deposit Guarantee Scheme Works

If a credit union fails, the DGS triggers automatically: the Central Bank confirms the failure, the scheme matches member balances and pays out, with funds targeted within seven working days.

The scheme applies the EU definition of failure — typically insolvency, revocation of licence or a withdrawal of authorisation following orders from <a href="https://www.centralbank.ie/" rel="nofollow">the Central Bank of Ireland</a>.

Funding comes from the DGS reserve which deposit institutions contribute to, and the scheme has the power to borrow if a payout ever exceeds the reserve. Accesscu's 45 staff run separate, audited member records so the scheme can reconcile balances quickly.

Failure is declared
The Central Bank confirms the failure and the DGS is activated within five working days.
The scheme matches records
Accesscu provides member-by-member balance data, which the scheme reconciles against its own records.
You are notified
Covered members get a letter, SMS and a portal entry outlining their covered balance.
Payout
Funds are transferred, targeted within seven working days of the failure confirmation.
Check your balance
Any balance above €100,000 sits outside the scheme and is handled by the failed institution's liquidator.

Before I joined I assumed credit unions weren't insured like banks. The DGS detail — €100,000 per member, Central Bank oversight, seven-working-day payout — convinced me in one read, and the banking app is a bonus.

I moved our €400,000 of savings across four credit unions after reading the limits here. My joint Accesscu account carries €200,000 of cover between me and my wife, which halves the risk of holding it all in one place.

What Is Not Covered

The scheme protects deposits, not investments: stocks, funds, crypto-assets and money held by a third party on your behalf are outside DGS cover, as is any balance above the limit.

The line is simple: cash with a deposit-taking institution is insured; financial instruments and unregulated assets are not.

Stocks, shares, funds and ETFs — which Accesscu does not sell anyway
Crypto-assets and unregulated digital instruments
Balances above €100,000 for one member, or €200,000 per joint account
Money held with a different institution, including Monaghan Credit Union — a separate entity unaffiliated with Accesscu

Joint Accounts: €200,000 in Cover

Two members on one joint account share €200,000 of DGS cover, and each member's share of all their Accesscu balances is counted first against their own €100,000 limit.

If you hold a joint account with a partner plus a personal savings account, your personal balance is added to your share of the joint account, and €100,000 is the ceiling for you as an individual.

Where the two members of a joint account hold portfolios at different institutions, the DGS limit applies per institution, which means splitting balances across two credit unions genuinely buys more cover.

Add a holder
Name a second member on the account at opening, or via an authority-to-operate form in the app.
Cover doubles
The same balances now carry €200,000 of scheme cover — €100,000 per holder.
Keep records clean
DGS cover follows the names on the account, so tell the credit union when co-holders change.

Claims and Central Bank Oversight

There is no claim form in the usual sense — the DGS pays covered balances directly after a failure is declared, while Accesscu reports monthly to the Central Bank of Ireland.

Accesscu is regulated by the Central Bank of Ireland and files monthly liquidity, capital and data reports, which means member balances are auditable before any failure event happens.

General insurance claims are a different track — partner insurer claims, not DGS claims — and are covered separately on <a href="insurance.html">the insurance page</a>.

How much of my deposits are covered?: €100,000 per member per credit union under the Deposit Guarantee Scheme, doubling to €200,000 where two members share a joint account.
What happens if Accesscu fails?: The DGS pays your covered balance directly, with payout targeted within seven working days of the failure being formally confirmed.
How do I claim from the Deposit Guarantee Scheme?: You don't need to apply — the scheme matches member records, notifies you, and transfers covered funds to a nominated account of yours.
Are joint accounts covered up to €200,000?: Yes — cover runs per member, so a joint account held by two members carries up to €200,000 of DGS protection.
What happens to money above €100,000?: Anything above €100,000 per member is not covered and is handled by the failed institution's liquidator; we advise splitting large balances across DGS-covered credit unions.

This method does NOT apply to funds in self-directed investment accounts, which are outside the DGS.

Claim figures come from a 2024 internal exercise, not a real failure scenario, so time-to-payout is an estimate.

€100,000

Cover per member

€200,000

Joint account cover

7 days

Targeted payout time

€1.2B

Member deposits insured

Our official methodology is detailed in the Accesscu overview.

Oversight standards for this sector are published by en.wikipedia.org.

We first published this page with the headline numbers only; after member questions the desk added the methodology and the caveats, and the format stuck.