Tel: 01738 624872 Email:

18 August 2017
Safe and ethical

What makes us ethical?

Unlike a bank, we’re not here to make money. We offer financial services to everyone, including people who may not be able to access a bank loan. We also ask you to save money regularly and make sure you can afford to pay back any money we lend you.

How are we regulated?

Credit unions are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. This means we work under the same rules and regulations as every high street bank or building society. A credit union must by law keep an insurance policy against fraud or theft. An external auditor inspects the credit union's business and reports to the membership each year. Credit unions must also be a member of the Financial Ombudsman Service and the Financial Services Compensation Scheme.

What is the Financial Ombudsman Service?

The Financial Ombudsman Service has been set up by law to help settle individual disputes between consumers and financial firms. The Financial Ombudsman Service will only look at complaints if the firm has had the opportunity to investigate the complaint first and provide a response. If you are not happy with a final response given to a complaint or if no final response has been provided within an 8-week period from the date of initial complaint, you can contact the Financial Ombudsman Service and ask them to investigate. The service is free and the financial firm will have to do what the Ombudsman tells them. Find out more at

What is the Financial Services Compensation Scheme?

This scheme provides a safety net if a bank, building society or credit union should fail. If the worst should happen, the FSCS can provide compensation so that you do not lose all of your savings. Under the scheme, 100% compensation for all savings up to £85,000 is provided.

Perth and Kinross Credit Union Tel: 01738 624872 Email: Web:
Authorised by the Prudential Regulation Authority and Regulated by the Prudential Regulation Authority and Financial Conduct Authority