The legal stuff
Financial Services Compensation Scheme
Moneywise Credit Union is a member of the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if Moneywise 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. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000 maximum payment for protected deposits).
The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with Moneywise Credit Union, including their share of any joint account and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please either contact us, refer to the FSCS website or call 020 7892 7300 or 0800 678 1100.
Information sheet and exclusions list https://www.fscs.org.uk/what-we-cover/compensation-limits/deposit-limits/
FSCS Compensation Leaflet https://www.fscs.org.uk/globalassets/disclosure-materials/fscs_2015_online-leaflet.pdf
Moneywise is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Moneywise Credit Union Ltd
PRA Registered No. 213486
Industrial & Provident Society No. C257
187 – 189 Shields Road,
Newcastle upon Tyne NE6 1DP
Telephone: 0191 276 7963