Deposit Defaults

Once FSCS is satisfied that an authorised firm is unable, or likely to be unable, to repay its depositors, it declares the firm in default.

Deposit firms declared in default by FSCS:

Banks and Building Societies (by date)

  • Southsea Mortgage & Investment Company Ltd - 16 June 2011
  • Dunfermline Building Society - 30 March 2009
  • London Scottish Bank plc -30 November 2008 (declared in default by FSA)
  • Landsbanki Islands hf (incl Icesave) - 8 October 2008 (declared in default by FSA)
  • Heritable Bank - 8 October 2008 (declared in default by the FSA)
  • Kaupthing Singer and Friedlander Limited - 8 October 2008 (declared in default by the FSA)
  • Bradford and Bingley - 27 September 2008 (declared in default by the FSA)

Credit Unions (by date)

  • North East Lincolnshire Credit Union Limited - 28 November 2016
  • Coastal Credit Union Limited - 09 August 2016
  • Hartlepool Credit Union Limited - 01 August 2016
  • Whitmore Reans Credit Union Limited - 21 March 2016
  • SPA Credit Union Limited - 18 February 2016
  • The Rainbow Credit Union Limited - 14 September 2015
  • Rowallane Credit Union Limited - 19 August 2015
  • Enterprise The Business Credit Union Limited- 14 May 2015
  • Lower Iveagh Credit Union Limited - 19 November 2014
  • Redcar & Cleveland Money Tree & Glen Credit Union - 27 October 2014
  • Ballymacarrett Credit Union - 17 October 2014
  • Glenard Credit Union - 20 June 2014
  • Wantsum Savers: The Isle of Thanet Credit Union Ltd - 10 February 2014
  • South Birmingham Community Credit Union Ltd (know as CommuniSave Credit Union) - 19 July 2013
  • Carleton Credit Union Limited - 14 June 2013
  • Millom & District Credit Union - 15 May 2013 
  • South Warwickshire Credit Union - 30 April 2013
  • Portadown Diamond Credit Union - 26 April 2013
  • Marches Credit Union - 24 April 2013
  • Severn Four Credit Union - 6 March 2013
  • Cornwall & Isles of Scilly Credit Union - 15 February 2013
  • North Yorkshire Credit Union Limited -  1 November 2012
  • Tamworth Credit Union Limited - 21 September 2012 
  • Waltonian Community Credit Union Limited - 9 August 2012 
  • Pallister Credit Union Limited - 1 May 2012
  • Hull East of the River Credit Union Limited - 16 January 2012  
  • Handsworth Breakthrough Credit Union Limited - 5 January 2012
  • Gallowhill Credit Union Limited - 6 September 2011 
  • Lee Bank/Highgate Credit Union Limited - 8 July 2011
  • Caribbean Parents Group Credit Union Limited - 21 June 2011  
  • Worcestershire Credit Union Limited - 22 June 2011  
  • Southend Credit Union Limited - 13 May 2011 
  • Ilfracombe & District Credit Union Limited - 30 March 2011
  • South East Birmingham Communuity Credit Union Limited - 26 January 2011
  • Havant Area Savers Credit Union Limited - 6 January 2011
  • South Kintyre Credit Union Limited - 26 November 2010
  • Tower View Community Credit Union Limited - 4 November 2010
  • Three Bees Credit Union Limited - 21 October 2010
  • Landsker Community Credit Union Limited - 3 September 2010
  • Elswick and Cruddas Park Credit Union Limited - 5 August 2010
  • Hackney Credit Union Limited - 7 July 2010
  • Splotlands Credit Union Limited - 29 June 2010
  • Forest of Dean Credit Union Limited - 17 May 2010
  • Edinburgh Hackney Cab Trade Credit Union Limited - 18 March 2010
  • Redcar and District Credit Union Limited - 2 March 2010
  • Derby City Credit Union Limited - 18 August 2009
  • Hull Northern Credit Union Limited - 18 August 2009
  • Eastbourne Community Credit Union - 15 July 2009
  • Irvine North Credit Union - 9 July 2009
  • St Brendan's Credit Union Limited - 28 May 2009
  • South West Durham Credit Union - 11 May 2009
  • Polmaise Community Credit Union Limited - 24 November 2008
  • Khalsa (Bradford) Credit Union Limited - 3 October 2008
  • Inner Preston Credit Union - 16 May 2008
  • Peterlee Credit Union - 25 March 2008
  • Rotton Park and Winson Green Credit Union - 19 March 2008
  • Edmonton Credit Union Limited - 28 January 2008
  • Caia Park (Wrexham) Credit Union Limited - 21 December 2007
  • Streetcred Credit Union Limited - 23 October 2007
  • Corby Community Credit Union Limited - 25 July 2007
  • Ferries Credit Union Limited - 02 July 2007
  • Fleetwood and District Credit Union Limited - 12 June 2007
  • Clydesdale Credit Union Limited - 1 May 2007
  • Skelmersdale Credit Union Limited - 23 April 2007
  • L27 (Liverpool) Credit Union Limited - 24 January 2007
  • Breightmet Credit Union Limited - 18 December 2006
  • Sheldon Credit Union Limited - 28 November 2006
  • St Columba's (Bradford) Save and Credit Union Limited - 13 October 2006
  • Furness Credit Union Limited - 25 September 2006
  • Money Tree Credit Union Limited - 17 August 2006
  • South Airdrie Credit Union Limited - 05 April 2006
  • Greater Pollokshaws Credit Union Limited - 20 June 2005
  • Hackney South Credit Union Limited - 8 November 2004
  • Employee Credit Union (Luton Borough Council) Limited - 15 September 2004
  • Raffles Area Credit Union Limited - 15 July 2004
  • Dalston Social and Business Credit Union - 14 January 2004
  • Dudley Estate (Newcastle) Credit Union - 14 January 2004
  • Ruabon, Cefn and District Credit Union Limited - 15 October 2003
  • Croydon Branch Union of Communication Workers Credit Union - 15 October 2003
  • Shepherds Bush Social and Welfare Credit Union - 25 September 2003
  • Leicester City Council Employees Credit Union - 8 May 2003
  • Leasowe Credit Union - 8 May 2003
  • Tendring Dial Credit Union - 26 March 2003
  • Guide Post and Scotland Gate Credit Union - 25 March 2003
  • Fairswan Credit Union - 25 March 2003
  • Cathall Community Credit Union - 25 March 2003
  • Thameswood Credit Union - 12 September 2002

 

  • Deposit firms that became insolvent before 1 December 2001 (before FSCS became operational)
  • London Trust Bank - 3 October 2000
  • AY Bank - 25 June 1999
  • Rafidain - 18 July 1995
  • Baring Brothers - 26 February 1995
  • Wimbledon and South West Finance - 16 February 1994
  • Roxburghe Bank - 8 April 1993
  • Equatorial Bank - 19 March 1993
  • Mount Banking Corp - 19 October 1992
  • Deacon and Hoare - 9 June 1992
  • National Guardian Mortgage Corporation - 6 March 1992
  • BCCI - 3 January 1992
  • Bradford Investments - 6 July 1991
  • Wallace Smith Trust - 12 June 1991
  • Edington Plc - 18 February 1991
  • Chancery Plc - 18 February 1991
  • Authority Bank - 11 December 1990
  • British and Commonwealth Merchant - 3 June 1990
  • Consumer Credit Investments - 14 May 1987
  • PL Investments - 3 February 1987
  • Oriental Credit - 27 October 1986
  • Spring Gardens Securities - 8 May 1986
  • Eastcheap Investments - 17 December 1984
  • St Martins Le Grand Securities - 28 November 1984
  • Cross and Bevingtons (Finance) - 28 November 1984
  • Bremar Holdings - 1 August 1984
  • Castle Court - 6 July 1984
  • Trinity Trust - 25 April 1983
  • Chancellor Finance - 2 August 1983
  • First Guarantee Trust - 16 December 1982
  • Goodwin Squires - 1 October 1982
  • Merbro Finance - 19 May 1982

 


About the FSCS

Click here to find out more about the FSCS, its role, its operations and its personnel.

The FCA

The Financial Conduct Authority website includes a searchable database of all firms authorised and regulated by the FCA and the Prudential Regulation Authority (PRA).

The FOS

The Financial Ombudsman Service is the official independent expert in settling complaints between consumers and financial businesses

Jargon Buster

  • Authorised firm

    a company, unincorporated body, partnership or individual permitted to carry out a regulated activity by the FCA or the PRA. This term includes a mutual (unincorporated) organisation, for example a friendly society.
  • Credit union

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

    Financial Services Authority, was previously the UK's regulator for the finance industry. It was replaced by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on 1 April 2013.
  • 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.
  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).