After the Farepak fiasco and now the global financial meltdown there has never been a better time to join your local credit union. It’s good to know that Angus Credit Union keeps your money safe and secure. We are insured for all circumstances, so you can feel peace of mind that your money is secure with Angus Credit Union.

• We carry Fidelity Bond insurance to protect your money from fraud or theft. This covers
  • Employee or director dishonesty
  • Loss of money via loss, theft or fraud on the premises or in transit
  • Employees’/members’ property stolen during robbery or burglary
  • Fraudulent deposit or forgery
  • Electronic crime
• We also carry general insurance to provide the credit union with coverage for the day-to-day problems which may affect our business. This includes our office contents, public liability and employers liability cover.

After the Farepak fiasco and now the global financial meltdown there has never been a better time to join your local credit union. It’s good to know that Angus Credit Union keeps your money safe and secure. We are regulated by the Financial Services Authority for all circumstances, so you can feel peace of mind that your money is secure with Angus Credit Union.

• The Financial Services Authority registers and regulates every financial institution in the UK, including credit unions. Our staff and directors have to abide by detailed rules about how to do business and keep records, and we have to send regular reports of our activity to the Financial Services Authority.

• We have a Supervisory Committee that is entirely separate from the staff and board of directors. Their job is to make periodic checks of the transactions and accounting procedures, as well as the day-to-day running of the credit union, and to report on their findings.

• We have a Money Laundering Officer whose job it is to ensure that the credit union isn’t being used to cover up illegal financial activity.

One benefit of being part of a Credit Union is the peace of mind you can have that your money is safe and secure:

• If the worst were to happen and the credit union ran into problems, the Financial Services Compensation Scheme (FSCS) would pay back every penny of each member’s savings. Each member can save a maximum of £10,000 which is well below the FSCS threshold of £50,000.

• This is the same scheme that covers all the banks and building societies, and after the run on Northern Rock it was improved even further.