FSCS in-default register

Loans and Savings Abertawe Credit Union Ltd

Declared in default29 August 2018FRN 213520

What this means for you

Because Loans and Savings Abertawe 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

Loans and Savings Abertawe Credit Union Ltd (FRN 213520) was declared in default by the Financial Services Compensation Scheme on 29 August 2018. The firm provided credit union services to its members. Eligible claimants may be entitled to compensation of up to £85,000 per person in respect of deposits held with the firm.

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.