Peterlee Credit Union

25th March 2008

The Financial Services Compensation Scheme (FSCS) has declared Peterlee Credit Union in default. This means FSCS is now considering claims for compensation from members who had money deposited with Peterlee Credit Union.

Declaring a credit union in default is part of a process in which a firm regulated by the Financial Services Authority (FSA) has been found by FSCS to be unable, or likely to be unable, to pay claims against it.

FSCS can pay compensation to members of Peterlee Credit Union, for financial loss, of up to £35,000 (made up of 100% of the first £35,000). To claim compensation from FSCS, members of the credit union will need to complete and return an application form. If you are a member of this credit union, you should have received an application to make a claim for compensation from FSCS. If you have not received an application form, or need help completing your form, please contact FSCS.