Regulation, reporting, security and service

Capital Credit Union is committed to providing a safe, sound and professional service to our members.   


Credit Unions, like all other financial organisations in the UK have their operations monitored and checked by official government appointed organisations.

All credit unions within the UK are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.  These are the same regulators who supervise banks, building societies and other financial organisations.  Credit Unions have to submit regular financial reports to the regulators as well as meeting strict requirements set by them.  In addition, all elected volunteers and key members of staff must be authorised by the regulators in order to be permitted to hold office and carry out their duties.

Details of all regulated firms appear on the Financial Services Register

Capital Credit Union’s firm reference number is 213575.   

Auditing, Compliance and Insurance

Capital Credit Union undergoes an annual audit by qualified external auditor.  The auditor inspects the credit union’s business over the financial year and provides a report to the membership at the Annual General Meeting. 

A compliance function is also in place within the credit union with specific responsibility for ensuring that all required policies and procedures are up to date and effective. 

By law, credit unions are required to maintain an insurance policy to protect the Credit Union and its members against fraud or theft.  This provides the membership with reassurance that their credit union savings are safe and not at risk. 

Financial Services Compensation Scheme

Capital Credit Union, like all UK credit unions and other financial organisations is covered by the Financial Services Compensation Scheme.  This provides a safety net should a bank, building society or credit union collapse.

The scheme covers individual members of the credit union and ‘small businesses’. 

Under the Scheme’s definition, a small business will have

• a turnover of no more than £6.5m
• a balance sheet total of not more than £3.26m
• no more than 50 employees

Large mutual with assets of more than £1.4m, local authorities, investment and pension funds and overseas authorised firms are amongst those organisations who are not covered by the scheme.

Important Information about compensation arrangements

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 £75,000.  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 £75,000 each (making a total of £150,000).  The £75,000 limit relates to the combined amount in all 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 compensation provided by the FSCS, (including the amounts covered and eligibility to claim) please call us on 0131 225 9901, refer to the FSCS website or call the FSCS on 0800 678 1100.  Please note only compensation related queries should be directed to the FSCS.

Complaint handling

Everyone at Capital Credit Union is committed to providing the highest level of service to our members at all times.  We appreciate feedback from our members and with respect to complaints about any aspect of our service we aim to respond quickly and to resolve these for you as effectively as possible.

In the event that we are unable to resolve a complaint to your satisfaction, individual members of the credit union have the right to take their complaint to the Financial Ombudsman Service.  Micro – enterprises (an EU term covering small businesses) can also bring complaints to the ombudsman as long as they have an annual turnover of less than two million euros and have fewer than ten employees.

If you would like further information on the Financial Ombudsman Service, please visit