Regulation  

FSCS to the rescue in Bournemouth

FSCS to the rescue in Bournemouth

The Financial Services Compensation Scheme has said it is ready to protect members of Enterprise in Business Credit Union in Bournemouth which recently applied to the high court to appoint an administrator.

In a statement, the FSCS said: “The FSCS is ready to protect members if the credit union enters administration. This would trigger the compensation scheme.”

The FSCS, which protects up to £85,000 of peoples’ money, said it aims to pay people back within seven days if their bank, building society or credit union fails.

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