FSCS

Sheffield Credit Union savings accounts are covered by the Financial Services Compensation Scheme (FSCS) which covers all deposits up to £75,000.  As the maximum savings permitted is much lower than this, all deposits are therefore covered by this scheme.

The leaflet which explains this in detail is available here.

This leaflet is sent out with the annual statements, and is provided when an account is opened.

The link to the website of the Financial Services Compensation Scheme can be found here.

If you have a Corporate Account with Sheffield Credit Union, your funds may not be covered by this scheme, as your organisational structure must pass the small business test.  Please check with our office on admin@sheffieldcreditunion.com if you are unsure about whether your Corporate Account is covered by this scheme.