All Flintshire Credit Union was declared in default yesterday.
The FSCS expects the total compensation for All Flintshire Credit Union to be around £2.25m.
It aims to compensate the 2,614 members of the credit union, which is in Holywell, Flintshire, North East Wales within seven days.
The compensation body will send each member a cheque for their balance automatically using All Flintshire Credit Union's records.
Credit unions are community savings and loans providers.
Usually they are small, non-profit financial organisations set up by members with something in common, such as living in the same town or working in the same industry.
Credit union members are offered the same protections under the FSCS as those of traditional banking institutions.
From Financial Planning Jobs. For more click on any job.
-
Performance Director - South West - £100k+bonus
Financial Planning Jobs Read more... -
Chartered Financial Planner - Staffs - £80k-£100k
Financial Planning Jobs Read more... -
Paraplanner - Cheshire - £35k-£50k
Financial Planning Jobs Read more...
This is a selection of jobs from our new Financial Planning Jobs site - for more job vacancies click on any job or the link below.
Financial Planning Jobs https://jobs.financialplanningtoday.co.uk/