FSCS in-default register

Coastal Credit Union Ltd

Declared in default9 August 2016FRN 213791

What this means for you

Because Coastal Credit Union Ltd 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

Coastal Credit Union Ltd (FRN 213791), a credit union offering membership savings and lending services, was declared in default by the Financial Services Compensation Scheme on 9 August 2016. Members who held deposits with the firm may be entitled to compensation of up to £85,000 per eligible claim under FSCS protection rules. The default marked the end of the firm's regulated operations as a credit union.

Products this firm wrote

Credit Unions

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.