FSCS protects members following Cheshire Neighbours Credit Union Limited (CNCU) failure
The Financial Services Compensation Scheme (FSCS) has been working with Cheshire Neighbours Credit Union Limited (CNCU) to protect members after the credit union was declared in default by the scheme on 21 October 2025.
CNCU has been winding down its operations for several months and the process of returning money to its members has already progressed. Many members have received their money directly from CNCU and FSCS has been working closely with the credit union to support its remaining members.
FSCS expects the total compensation for CNCU to be just under £19,000. The scheme will compensate the credit union’s 119 affected members that are contactable within seven working days.
For members whose contact details cannot be verified, FSCS will not be able to issue payment immediately.
Members who have received their money directly from CNCU before Tuesday 21 October 2025, do not need to contact FSCS as the funds they held with the credit union has already been returned.
Members who believe they still hold funds with CNCU and have not received a compensation cheque from FSCS by 30 October 2025 should contact us on 0800 678 1100 or email enquiries@fscs.org.uk.
Andrew Bower, Head of Customer Support at FSCS said: “We want customers of Cheshire Neighbours Credit Union Limited, to know their money is safe. Many members will have already been contacted by CNCU and had their money returned to them. FSCS is working to find the remaining credit union members to reunite them with their savings.
FSCS protects people’s savings up to £85,000 per person and we are ready to help those who have been affected get back on track as quickly as possible.”
A dedicated page on the FSCS website includes questions and answers, which may be useful for members of Cheshire Neighbours Credit Union Limited (CNCU).
For more information on how FSCS can protect people with current or savings accounts in credit unions, banks and building societies, please visit the FSCS website and our ‘what we cover’ page.
Contact Information
Maria Goodall
maria.goodall@fscs.org.uk
Notes to editors
Media enquiries:
Email: publicrelations@fscs.org.uk
Contact number: 07825 745 790