How your savings are protected

Credit unions are subject to similar regulations and protections as traditional high street banks. We are authorised by the Prudential Regulation Authority (the PRA) and regulated by them and the Financial Conduct Authority (the FCA).

Regulatory oversight

These two regulators work together to ensure that the credit union behaves in a manner that is financially responsible, consistent with applicable regulations and the law, and that we treat our members fairly.

Financial Services Compensation Scheme (FSCS)

Like all credit unions, London Mutual Credit Union is a member of the Financial Services Compensation Scheme (FSCS). The FSCS is a government-backed scheme that guarantees that if something goes wrong and the credit union goes out of business, you'll get your money back (subject to terms & exclusions).

All deposits you hold with the credit union, up to a value of £120,000, are protected (this limit has increased from 1st December 2025). 

More information

For more details about the FSCS protection, visit the FSCS Website.