FSCS in-default register

Faifley Credit Union Ltd

Declared in default23 November 2020FRN 213834

What this means for you

Because Faifley Credit Union Ltd has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.

Background

Faifley Credit Union Ltd (FRN 213834), a UK credit union, was declared in default by the Financial Services Compensation Scheme on 23 November 2020. The firm provided credit union services to its members. Former customers may be entitled to FSCS compensation of up to £85,000 for eligible deposits held with the firm at the time of default.

Products this firm wrote

Credit Unions

How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.