Q&As about Havant Area Savers Credit Union


I had a savings account with Havant Area Savers Credit Union. Is my money safe?

What will happen to any dividends earned on my savings account?

I had a loan with Havant Area Savers Credit Union. Will I have to repay it?

What do I need to do to get my money back?

How soon will I get my money back?

How will I be able to find out what is happening?

How will the FSCS calculate how much compensation I am entitled to?

I do not have another Bank account. What should I do with my compensation cheque?

Can the FSCS make a compensation payment directly to my account with another bank?

A payment was transferred into my account the day/a few days before the FSCS declared Havant Area Savers Credit Union in default, but this amount does not appear to have been applied to my balance. Will the balance on my account be updated to reflect this payment?

Will any of the money I owe to Havant Area Savers Credit Union be offset against my savings when you calculate the amount of compensation payable?

My child has a savings account with Havant Area Savers Credit Union. What will happen to his/her savings?

Do I need to notify the FSCS if I have recently changed address?

Do I need to notify the FSCS if I have recently changed my name?

I am the executor of a depositor who has recently died. Do I need to contact the FSCS?

What should I do if I disagree with the amount of compensation the FSCS has paid me?

Jargon Buster

  • Credit union

    a financial co-operative which is owned and controlled by its members.
  • Deposits

    money placed in a bank or similar institution to earn interest or for safe-keeping.
  • Eligible

    qualifying for compensation under Scheme rules.
  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.