The FSCS will usually be notified by the UK regulator that a credit union is insolvent. The FSCS can pay compensation for financial loss of up to £85,000* if a credit union is unable to pay back deposits it owes to its members.
How we handle claims for compensation against a credit union
If you think you have a claim against a credit union
If you think you have a claim against a credit union but are not contacted, you can now start the process by completing an Initial Enquiry Questionnaire.
If you are worried about what is happening with your claim, please contact us.
The FSCS will usually pay compensation by cheque or cash over the counter through Post Offices.
You may also find our Questions and Answers section helpful.
*From 3 July 2015, FSCS will provide a £1 million protection limit for temporary high balances held with your bank, building society or credit union if it fails. Read our Q&As about temporary high balances for more information.
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 Financial Ombudsman Service is the official independent expert in settling complaints between consumers and financial businesses