Rugby Credit Union is regulated by the Financial Services Authority (FSA) just like banks and building societies. We have a statutory obligation to hold insurances which protect us against fraud or theft.
We have a legal obligation to point out that 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 businesses – are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to £50,000. For further information about the scheme (including the amounts covered and eligibility to claim) please refer to the FSCS website or call 0800 678 1100.
The Credit Union is also a compliant with statutory requirements to be fidelity bonded.
Members have access to the Financial Ombudsman Scheme in situations of complaints which cannot be resolved by the Credit Union.