Thousands of people who lost access to money they had saved with the Presbyterian Mutual Society (PMS) have received cheques in the post on this week.
The PMS entered administration in 2008 and affected around 10,000 people.
A rescue package underwritten by the Northern Ireland Executive was agreed in May.
It allowed for smaller savers, who invested less than £20,000 with the PMS, to get all of their money back.
Larger investors will receive 85% now with the remaining 15% dependent on the disposal of PMS properties and other assets.
Enterprise Minister Arlene Foster said the payouts, totally £232m, were a “significant milestone”.
“The cheques issued today will ease the hardship caused to members of the society who were denied access to their savings,” she added.
“Since the collapse of the PMS, I have dealt with hundreds of letters and emails from ordinary savers and I am well aware of the personal distress and anxiety which many have suffered.”
The overall return to shareholders is based on a sliding scale depending on the size of their total holding in the society.
The minimum return that anyone will receive will be 77% of their total holdings.
The majority of this money will be made available by a loan from the NI Executive.