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Second credit union goes bust this year 

The Strathkelvin Credit Union Limited in the Glasgow are has been declared in default by the Financial Services Compensation Scheme, opening the door to members to claim compensation expected to be in the region of £1.96m in total.


Complex claims push up FSCS budget by 5%

The Financial Services Compensation Scheme has increased its running costs budget forecast for 2022/23 to £95.5m.


Scammers target payouts to LCF victims

The Financial Services Compensation Scheme has warned LCF victims currently receiving compensation cheques that they could be targeted by scammers.


Govt pays £91m to LCF victims in 3 weeks

The Financial Services Compensation Scheme (FSCS) has paid out £91.1m to 7,750 LCF bondholders under the government’s compensation scheme in three weeks.

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