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Plymouth and District Credit Union |
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Financial Services Compemsation Scheme (FSCS)Please find below an important statement from the Financial Services Authority (FSA).Important
information about compensation arrangements
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 £50,000. 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 £50,000 each (making a total of £100,000). The £50,000 limit relates to the combined amount in all the eligible 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. (Please note that Plymouth and District Credit Union is specifically limited to a maximum of £10,000 in deposits per member, and does not offer joint accounts.)
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Plymouth and District
Credit Union is a trading name of HOPE (Plymouth) Credit Union Ltd |
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