Your money is important to us, which is why we are committed to keeping your savings safe and secure.
As part of Plane Saver Credit Union, members benefit from a range of protections designed to provide peace of mind, including loan protection, life savings protection and Financial Services Compensation Scheme (FSCS) protection.
Loan Protection
What’s included?
- Available up to and including the age of 70.
- Covers eligible loans up to a maximum of £10,000.
Loan Protection is provided by CUNA Mutual Group Limited.
Plane Saver Credit Union does not provide or own this insurance product but acts as the administrator, managing claims between members and CUNA Mutual Group Limited. Please ensure your beneficiaries are aware of this benefit.
Life Savings Protection
What’s included?
- Maximum cover of £10,000.
- Applies to Regular Saver, Junior Saver, Prize Saver and Christmas Saver accounts.
The level of additional cover depends on your age at the time of death:
Age 80 and over: No additional Life Savings Protection applies.
Up to age 64: Your beneficiary receives an additional 100% of your savings balance (up to the maximum cover limit).
Ages 65–69: Your beneficiary receives an additional 50% of your savings balance.
Ages 70–79: Your beneficiary receives an additional 25% of your savings balance.
For further information about the scheme, (including amounts covered and eligibility to claim), please contact us, visit our office, refer to the FSCS website or call the FSCS customer service team on 0800 678 1100.
Financial Services Compensation Scheme (FSCS)
What’s included?
- Your eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per individual across all accounts held with Plane Saver Credit Union.
- Protection is automatic — you don’t need to take any action.
- If Plane Saver Credit Union were ever unable to meet its financial obligations, eligible deposits would be protected up to the FSCS compensation limit.
For more information about the FSCS and how the scheme works, please refer to the FSCS website or speak to a member of our team.
