Any worker who was a member of the Irish Bank Officials Association between the years of 1953 to 1989 is being urged to check if they are due a payout of up €275. 

The Financial Services Union, which was previously the IBOA, has announced the closure of its Defence Fund and a return to members of any contributions. 

The fund was established in 1953 to have a reserve available for strike pay. It was wound up in 1989. 

Advertisements appeared in the national newspapers this morning informing former members of the payouts.

The minimum payment from the Defence Fund is estimated at €3.81 and the maximum payment is estimated at €273.95. 

Only full members of the IBOA between 1953 and 1989 made a contribution to the fund.  

Those workers who joined the union after 1989 do not have a claim on the Defence Fund, as no contributions to the fund were made on their behalf. 

The FSU said members who received strike pay during an industrial dispute may have exhausted their contribution to the fund and may not be entitled to payment. 

It noted that significant payments were made from the fund to members during a 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 fund.

People can check if they are eligible for a payment from the fund online at fsunion.org/defence-fund-claim or by 01-4791010 between 9am and 5pm. 

The closing date for applications is 10 December 2018.