Defence Fund - IBOA members from 1953 - 1989

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Please take a minute to read through the Q&A document before checking your entitlement.

What is the Defence Fund?

The Defence Fund was established in 1953. Each year a small proportion of each full member’s annual subscription was allocated to the fund. The original intention of the fund was to have a reserve available for strike pay. In 1989, the practice was ceased and no payments were made into the fund since that date.

Who are members of the fund?

People who were full members of the then Irish Bank Officials’ Association (IBOA) between 1953 and 1989 are members of the fund.

However, it is important to note that any member who was expelled, or resigned from the Union and remained in employment, forfeited any claim over contributions made on their behalf to the Defence Fund. This also applies to resignations or expulsions from the Union that occurred after payments into the fund ceased in 1989.

Why is the Defence Fund being closed?

The Defence Fund has in effect been ‘dormant’ for more than 25 years. No payments have been made into the fund since 1989.

The Defence Fund still retains a significant balance and it is the policy of the Union to:

  1. return to members any funds owing and;
  2. to close the Defence Fund

Who made the decision to close the Defence Fund?

At the FSU conference in Limerick in May 2018 delegates unanimously adopted the following motion, which was proposed by the General Council:

The Trustees of the Defence Fund and the New Defence Fund are directed to take all reasonable steps to return to members the contributions standing to the credit of each member following the 2018 Conference.

The Trustees are further directed, following completion of the return of contributions, to close the funds and return the balances to FSU.

Further information about the rules governing the Defence Fund can be found at Appendix 2 and Appendix 3 of the Union Rules. They can be accessed online at this link .

Do I have an entitlement?

We want to do all we can to ensure that members with a legitimate claim can access a payment from the Defence Fund.

We have an online claim system  fsunion.org/defence-fund-claim and a dedicated telephone service (00 353 (0) 1 4791010) that can quickly assess if you are due a payment and we strongly advise members to use either method to check their status.

However it might be helpful to note that:

Only full members of the IBOA between 1953 and 1989 made a contribution to the Defence Fund . If you joined the Union after 1989 you do not have a claim on the Defence Fund, as no contributions to the fund were made on your behalf.

Members who, at any time, resigned from the Union and remained in employment, or were expelled from the Union, forfeited any claim to contributions made to the Defence Fund.

Members who received strike pay during an industrial dispute may have exhausted their contribution to the fund and are therefore not entitled to payment.

It is important to note, for instance, that significant payments were made from the fund to members during the major bank dispute in 1992 and this exhausted the contributions that many members had made to the Defence Fund.

Claims can also be made by an appropriate person on behalf of a deceased relative who contributed to the Defence Fund.  To enquire about this facility please contact 00 353 (0)1 4791010.

How much may I be due?

The minimum payment from the Defence Fund is estimated at €3.81 (£3) and the maximum payment is estimated at €273.95 (£208)

Approximate payment examples by year of joining IBOA

  • Member who joined IBOA in 1965 and still a member of IBOA in 1989 €160 £122 Approx
  • Member who joined IBOA in 1975 and still a member of IBOA in 1989 €114 £90 Approx
  • Member who joined IBOA in 1985 and still a member of IBOA in 1989 €45 £36 Approx

Less years of IBOA membership would obviously reduce the amount accrued

The above examples also assume that during this timeframe the member didn’t receive strike pay at any time from the Defence Fund.

How can I find out if I am due a payment from the Defence Fund?

Online

The quickest way to establish if you are due a refund is to go to our dedicated website page: fsunion.org/defence-fund-claim

There you can fill in an online form that requests your Name, Date of Birth, Staff Number, Union Membership Number and email address.

You don’t need all that information but the more you can provide the more accurate our search will be.

When you provide your details the website page will search our records and establish if you are due a payment from the Defence Fund in a matter of minutes. It will also tell you the amount you are due.

If you are due a payment you can then provide your bank details and the payment will be made directly into your account.

By Phone

The Union has also established a dedicated phone line to assist members in relation to eligibility to payment from the Defence Fund

Please contact 00 353 (0) 1 4791010 between 9am and 5pm and one of our trained staff will assist you.

It would be of great benefit if you had as much of the following information to hand when making the call: staff number, union membership number, employer(s) and date of birth.

In the vast majority of cases our staff will be able to inform you immediately if you are due a payment and the amount. If the query is complex, we aim to revert to you within 48 hours.

For data security reasons if you enquire by phone and are due a payment we will issue you a claim form through the post which you are required to complete and return.

When will repayment be made?

Payments will be made directly to your bank within a month of you making your claim.

Alternatively you can choose to gift the payment towards the Financial Services Union’s ambitious ‘Building, Growing, Winning’ plans for growth, where it will be used to enhance services to members, grow the Union and increase our ability to win for members and their families.

What is the closing date for applications?

Applications for payment will close on 10th December 2018.

Query of decision

The Union has established a mechanism to review an original decision regarding eligibility or the amount due that a member may have a query in relation to.

If you wish to use this facility please email defencefund@fsunion.org or telephone 00 353 (0)1 4791010 to request a query form.

It will greatly assist your case if you can provide as much information as possible on the claim form.

Issues raised will be individually reviewed by a dedicated staff member not involved in the original decision, and their decision is final.

Data Privacy

Please note personal data provided by you will be used solely in relation to the FSU’s Defence Fund.

Data will be retained for this purpose only and will be stored until the process has been completed and then destroyed.

A full copy of our Date Privacy Policy in relation to the Defence Fund is available here.

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