Nowadays you shouldnt really be looking at anything less than Fetac level 5, thats the way the regulations are starting to go so eventually you will need to have this to work in Childcare. as far as i can see the College of progressive Ed only offer this by module, rather than the whole course. this would work out quite expensive as you need to have 6-8 modules done to complete the course.
I personally would only consider someone for a Child care position with at least 6 modules of Level 5 done
Another alternative is to do it by night, 2 nights a week for 2 years. the course is split so you could do one half one year and you dont necessarily have to do the other half the next year, you could defer. The first year alone would be enough to get you a Junior job in Childcare.
Most creches take on a limited number of trainees, so essentially you could leave your job now, start with a creche and start teh coure in September. That way you are getting practical training as well as theory training.
Some creches will subsidise this training also, provided you stay with them for the duration of the course(otherwise you pay it back).
College of Progressive Education is a recognised college in Childcare and somebody would not be turned down with a Diploma or Cert from here. However for somebody just starting out I think it would be best to go with the Fetac Level 5 in line with current and changing regulations.
Hope this helps if you need any more info let me know.
pS what area are you in?