Important Information

Compensation Scheme (FSCS)

Churches Mutual Credit Union is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Credit Union is unable to meet its financial obligations.

Most depositors – including most individuals and small businesses – are covered by the scheme. In respect of deposits, from January 2017, an eligible depositor is entitled to claim up to £85,000. The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the Credit Union.

For further information about the scheme (including the amounts covered and eligibility to claim) please contact us.

Alternatively, you can contact the FSCS on 0800 678 1100 or visit the Financial Services Compensation Scheme website.


Your savings are protected by insurance, which covers theft, fraud and misappropriation of funds. The Credit Union has 'fidelity bond' insurance which means that your savings are protected from any fraudulent action by the Credit Union or its employees.


Churches Mutual Credit Union aims to provide an exemplary, fair and transparent service to all its members. However the Credit Union recognises there will be occasions when some aspect of its service, procedures or processes will be perceived by the member to have failed to have come up to the Credit Union's business standards and this may lead to a complaint.

Full details of Churches Mutual's complaints procedure can be found in our Complaints Leaflet.


Credit Unions are co-operatives and all account holders are members and are often referred to as such.

Savings are called shares and the terms account number and membership number are interchangeable. Most Credit Unions pay a dividend which is a profit share based on the Credit Union's performance during the previous financial year, which runs from 1st October to 30th September.

Dividends are approved by the Annual Meeting of Members which takes place in January based on the recommendation of the auditors and the volunteer Board of Directors. At the annual meeting each year one third of the volunteer board are elected to serve for a term of three years.

If you need any further information regarding opening an account with the Credit Union please contact us.