Two men were arrested following the robbery of £5,000 from Saint Columba's Credit Union at Mervue, Galway, yesterday.
Two masked men, one armed with a shotgun, the other with a knife, entered the premises, held up the staff and got away with the money.
A burnt out car was found later and two men were arrested and taken to Mill Street Garda station.
Two men had held up staff at 4.30 p.m. and made their getaway in a Mitsubishi Gallant car which was driven by a third man. They disposed of the car at Roscam, less than two miles away, when they were confronted by gardai who were nearby at the time of the raid.
A search was mounted for the third man involved. It is understood some money was recovered.
The manager of the credit union received minor injuries in the raid but was discharged later from hospital.