FSCS in-default register

Pioneer Mutual Credit Union Ltd

Declared in default3 March 2021FRN 213761

What this means for you

Because Pioneer Mutual 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

Pioneer Mutual Credit Union Ltd (FRN 213761) was declared in default by the Financial Services Compensation Scheme on 3 March 2021. The firm's specific product offerings cannot be determined from available records. Eligible claimants may be entitled to compensation of up to £85,000 for deposits held with the firm, subject to FSCS eligibility criteria.

Products this firm wrote

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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.