ABOUT US

“Co-operation is our currency”

Riverside Credit Union (RCU) provides straightforward, affordable financial services to a growing number of people in Speke/Garston.

RCU is a member owned organisation. Each member makes regular payments into a common pot. This fund then provides the basis for our low interest loans. The income generated by lending helps us meet our operating expenses, build our reserves and pay our savers competitive dividends.

RCU started its operation back in 1989 and now is one of the largest community owned organisations in the UK. Our members are encouraged to save for their future, and in return they receive access to a range of financial services including, affordable credit, free life and loan protection insurance, money management service (CAB) and will receive a healthy return on their money.

FINANCIAL SERVICES COMPENSATION SCHEME (FSCS)

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Credit Union is unable to meet its financial obligations. Most depositors — including most individuals and small businesses — are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the Credit Union, including their share of any joint account, and not to each separate account.

For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website http://www.fscs.org.uk or call us at 0800 678 1100.