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Financial Services Compensation Scheme

We are 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 business – are covered by the scheme.

In respects 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). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the 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 ask at your local branch, refer to the FSCS website or call 0800 678 1100 or 0207 741 4100.

Note

Please be aware that the maximum deposit for Kent Savers is currently £18,000.

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Kent Savers Credit Union Tel: 0333 321 9050 Email: info@kentsavers.co.uk Web: http://www.kentsavers.co.uk
Kent Savers Credit Union is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation and Financial Conduct Authorities - Firm No. 503258