FSCS in-default register

Raffles Area Credit Union Limited

Declared in default16 July 2004FRN 213525

What this means for you

Because Raffles Area Credit Union Limited has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.

Background

Raffles Area Credit Union Limited (FRN 213525) was declared in default by the Financial Services Compensation Scheme on 16 July 2004. The firm's specific product offerings cannot be determined from available records; however, as a credit union, it would typically have provided savings and lending services. Former customers may be entitled to FSCS compensation of up to £85,000 for eligible deposits held with the firm.

Products this firm wrote

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How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.