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| Regulatory information |
Islington & City Credit Union is regulated by the
Financial Services Authority. Like most other financial institutions the FSA provides oversight of the credit union's activities to make sure that we continue to be financially viable. We provide information about the credit union's finances to the FSA every three months.
This also means that the credit union has to operate to minimum standards of practice. This includes operating an internal audit, known as the 'supervisory committee' and ensuring that the organisation is protected for the future by ensuring that we build up healthy financial reserves.
Unlike other some other financial institutions, 100% of savings wit the credit union are protected by the
Financial Services Authority Compensation Scheme. |
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| A new Credit Union for Islington and the City of London |
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 The FSA granted Islington Council Employees Credit Union permission to extend its membership to anyone living or working in Islington or the City of London in October 2007.
The credit union will be working to encourage more and more people to
save money with the organisation. The credit union also offers affordable loans and is working to make sure that more and more households have access to financial services which are tailored made to suit their needs.
You can find out more about the credit union and download a membership application form from this website.
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| Greater protection for savers |
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 The Financial Services Authority Compensation Scheme has now been increased to protect 100% of savings with a credit union.
Following the Northern Rock crisis
many savers have been worried that
their deposits are no longer safe.
Savers can currently invest a maximum
of £10,000 with the credit union and
this is protected by the Compensation
scheme, so should the worse happen,
savers will always get 100% of their
money back.
Find out more about the credit union's savings facilities on this website or visit the FSCS website to get more information on the
Financial Services Authority Compensation Scheme
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Copyright (c) 2010 Islington & City Credit Union Ltd.
Authorised and regulated by the Financial Services Authority, Reg. No. 513c, Firm Ref. No. 214094
Registered. Office: 1st Floor, Caxton House, St Johns Way, Archway, London N19 3RQ |
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