CREDIT UNION

Ethical & Secure

Will my savings be secure?

Absolutely!

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (a total of £170,000). The £85,000 limit relates to the combined amount in all eligable depositor's accounts with the credit union, including their share of any joint account, and not to each separate account.

For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website or call 0800 678 1100.

You can download a leaflet about the FSCS here:

Download FSCS Leaflet (1998.5kb)

We are also regulated by the Financial Conduct Authority(FCA), the Prudential Regulation Authority(PRA)and the Financial Ombudsman Service.

What Makes Us Ethical?

• Credit Unions are not-for-profit co-operatives run for members by members.
• There are no external shareholders so all profits are returned back to the members in the form of a dividend on savings or re-invested back into the Credit Union.
• This means any profits made stay within the community and are not distributed to external investors. 
• Member savings provide affordable credit to other members within their local community.
• In accordance with Credit Union Act 1979, we promote responsible saving and lending to all of our members.