Financial Services Compensation Scheme
Important Information about our compensation arrangements
My Community Bank is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors- including most individuals and small businesses – are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the credit union, and not to each seperate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website (www.fscs.org.uk) or call the FSCS on 0800 678 1100.
You can download the FSCS leaflet here.