Savings Accounts

Financial Services Compensation Scheme

Furness Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000 (limits revised 7 October 2008). Payments under the scheme are limited to 100% of the first £50,000 of an investor's total shares and / or deposits in a society. Most investors are covered, including individuals and small firms. A small number of categories of shares and deposits are not covered. Although most shares and deposits are denominated in sterling, all other currencies are covered. Further details are available on request from the Society.

Those that are not eligible for cover include:

  • A large company
  • A large partnership
  • A large mutual organisation
  • A local, provincial or municipal authority
  • A credit institution
  • An overseas financial services institution
  • An operator or trustee of a collective investment scheme
  • A pension and retirement fund or a trustee of such a fund
  • A supranational institution
  • A government, or central administrative authority
  • A firm within the Furness Building Society building society group
  • A person whose claim arises from transactions relating to a conviction they have received for money laundering

Further details of exclusions from FSCS cover can be found on the FSA website.