Frequently Asked Questions

Basic information about the protection of your eligible deposits
Eligible deposits in Slieve Gullion Credit Union Limited are protected by: Limit of protection:	the Financial Services Compensation Scheme (“FSCS”).1
Limit of protection:	£85,000 per depositor per bank / building society / credit union.2
If you have more eligible deposits at the same bank/building society/credit union:	All your eligible deposits at the same bank / building society / credit union are “aggregated” and the total is subject to the limit of £85,000.2
f you have a joint account with other person(s):	The limit of £85,000 applies to each depositor separately.3
Reimbursement period in case of bank, building society or credit union’s failure:	20 working days. 4
Currency of reimbursement:	Pound sterling (GBP, £) or, for branches of UK banks operating in other EEA Member States, the currency of that State.
To contact Slieve Gullion Credit Union Limited for enquiries relating to your account: To contact the FSCS for further information on compensation: More information:	Caroline O’Brien: Slieve Gullion Credit Union Limited, 41-43 Main Street, Forkhill Newry BT35 9SQ Financial Services Compensation Scheme 10th Floor Beaufort House, 15 St Botolph Street, London EC3A 7QU Tel: 0800 678 1100 or 020 7741 4100 Email: ICT@fscs.org.uk http://www.fscs.org.uk

Basic information about the protection of your eligible deposits

Eligible deposits in Slieve Gullion Credit Union Limited are protected by: Limit of protection:

the Financial Services Compensation Scheme (“FSCS”).1

Limit of protection:

£85,000 per depositor per bank / building society / credit union.2

If you have more eligible deposits at the same bank/building society/credit union:

All your eligible deposits at the same bank / building society / credit union are “aggregated” and the total is subject to the limit of £85,000.2

f you have a joint account with other person(s):

The limit of £85,000 applies to each depositor separately.3

Reimbursement period in case of bank, building society or credit union’s failure:

20 working days. 4

Currency of reimbursement:

Pound sterling (GBP, £) or, for branches of UK banks operating in other EEA Member States, the currency of that State.

To contact Slieve Gullion Credit Union Limited for enquiries relating to your account: To contact the FSCS for further information on compensation: More information:

Caroline O’Brien: Slieve Gullion Credit Union Limited, 41-43 Main Street, Forkhill Newry BT35 9SQ Financial Services Compensation Scheme 10th Floor Beaufort House, 15 St Botolph Street, London EC3A 7QU Tel: 0800 678 1100 or 020 7741 4100 Email: ICT@fscs.org.uk http://www.fscs.org.uk

Additional information (all or some of the below)

Scheme responsible for the protection of your eligible deposit

Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your bank, building society, or credit union should occur, your eligible deposits would be repaid up to £85,000 by the Deposit Guarantee Scheme.

In some cases, eligible deposits which are categorised as “temporary high balances” are protected above £85,000 for six months after the amount has been credited or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events including:

(a) certain transactions relating to the depositor’s current or prospective only or main residence or dwelling;
(b) a death, or the depositor’s marriage or civil partnership, divorce, retirement, dismissal, redundancy or invalidity;
(c) the payment to the depositor of insurance benefits or compensation for criminal injuries or wrongful conviction.

More information can be obtained under

http://www.fscs.org.uk

Limit of protection for joint accounts

In the case of joint accounts, the limit of £85,000 applies to each depositor.

However, eligible deposits in an account to which two or more persons are entitled as members of a business partnership, association, or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of £85,000.

Reimbursement

The responsible Deposit Guarantee Scheme is the Financial Services Compensation Scheme, 10th Floor Beaufort House, 15 St Botolph Street, London, EC3A 7QU, Tel: 0800 678 1100 or 020 7741 4100, Email: ICT@fscs.org.uk.

It will repay your eligible deposits (up to £85,000) within 20 working days until 31 December 2018; within 15 working days from 1 January 2019 until 31 December 2020; within 10 working days from 1 January 2021 to 31 December 2023; and within 7 working days from 1 January 2024 onwards, save where specific exceptions apply.

Where the FSCS cannot make the repayable amount available within 7 working days, it will, from 1 June 2016 until 31 December 2023, ensure that you have access to an appropriate amount of your covered deposits to cover the cost

of living (in the case of a depositor which is an individual) or to cover necessary business expenses or operating costs (in the case of a depositor who is not an individual or a large company) within 5 working days of a request.

If you have not been repaid within these deadlines, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under http://www.fscs.org.uk.

Other important information

In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme.

Your deposit

Exclusions List

A deposit is excluded from protection if:

Your bank, building society, or credit union will also inform you of any exclusions from the protection that may apply. If deposits are eligible, the bank, building society, or credit union shall also confirm this on the statement of account.

(1) The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements. For further information, contact your bank, bank building society, or credit union.

(2) The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering.

(3) It is a deposit made by a depositor which is one of the following:

credit institution
financial institution
investment firm
insurance undertaking
reinsurance undertaking
collective investment undertaking
pension or retirement fund*
public authority, other than a small local authority.

* Deposits by personal pension schemes, stakeholder pension schemes, and occupational pension schemes of micro, small, and medium-sized enterprises are not excluded