Limerick entrepreneur has a safe bet with 20 new jobs

| December 8, 2013


By Andrew Carey

CAHERDAVIN entrepreneur, Seamus Fahy is creating up to 20 jobs with the launch of Ireland’s first independent safety deposit box vault giving Limerick consumers a real choice about where they can securely store their valuables.

With an increased rise in opportunists and planned burglaries and costing less than one euro a day, the new service offers people peace of mind about their prized possessions.

Highlighted in recent crime figures and Garda reports, there has been a spate of burglaries across Limerick throughout the month of November and a there has been a 23 per cent increase in the number of burglaries across the city in recent months.

Seamus Fahy, a University of Limerick Business Studies graduate, has opened Mer-rion Vaults containing several thousand safety deposit boxes of varying sizes.

Up to twenty jobs will be created directly in the company and in supporting service providers by Seamus and his business partner David Walsh from Cork.

Mr Fahy told the Limerick Post that cash and valuables hidden in the attic, under the mattress or in a home safe are a dangerous attraction for burglars who will resort to violence to secure their target.

“Irish people have traditionally left important documents like property leases with their banks, often as security for loans, while keeping valuables like jewellery and cash at home,” he said. “Traditionally banks have provided boxes in various branches but are now ceasing or have ceased to provide them. With confidence in banks under pressure, demand for a private safety box has increased as a secure alternative for assets.

The Limerick man has built the vault from scratch and has the very latest security technology installed.

“A leading consultant, who is regularly commissioned by Lloyd’s insurance to assess such premises around the world helped construct the vault and choose the most ap-propriate technology to keep it secure,” Mr Fahy said. “Such is the standard of secu-rity at Merrion Vaults, Lloyds has approved the system and is the main underwriter and insurer for the company. We also have an extremely sophisticated security sys-tem to ensure that access to any box is limited to the authorised person only.”

A safety deposit box not only removes the risk of leaving valuables in a small safe at home, it can also reduce your household insurance premium. Long term, a safety deposit box will provide a secure home for items such as house deeds, passports, important data on memory sticks, items of sentimental value such as old photos and documents, a deceased mother’s wedding ring etc.

Seamus Fahy continued: “For insurance purposes there is a clear saving where the valuables are in a safety deposit box rather than stored at home. A comprehensive insurance policy is available for all valuables underwritten by Lloyds on London.”

Full details are available at

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