FSCS to pay out £210,000 after latest credit union failure

The firm had 612 members with account balances of up to £5,000, the FSCS said, and the payments will be made within seven days for the majority of the union's members. FSCS head of communications Mark Oakes said: "We are protecting members of North East Lincolnshire Credit Union Limited. You should get your money back within the week. The process is automatic too, so you won't have to apply for compensation." Since 2001 the FSCS has come to the aid of more than 4.5 million people, paying out about £26bn in compensation. The body compensates members of regulated financial services firm...