Almost 5000 people will receive payments after a credit union collapsed.
North Yorkshire Credit Union was placed into liquidation last week. Many people were concerned members' savings, worth £2million, could have been at risk.
But all 4860 savers are protected by a financial compensation scheme. They will be reimbursed from today, November 6.
"For people who have more than £1,000, we have sent them checks instead. That is safer for the lager amounts.
"The message to investors is, don't worry, you are actually covered. We have already paid out for the vast majority of people, you don't need to do anything."
More top news
The schoolchildren saying farewell to the dog who's quitting police work - for retirement.
The Sunderland International Airshow will see thousands of people flock to Wearside for spectacular aerial displays.
A look ahead at the weekend forecast for the Tyne Tees region.