Castle Community Bank

Castle Community Bank

5.26
%
AER
90 day | GBP
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  • FSCS protects deposits up to £85,000 per person

All offers from Castle Community Bank

5.26 % AER variable
90 day
fscs.org.uk
4.71 % AER variable
Easy Access
fscs.org.uk

About Castle Community Bank

Castle Community Bank was formed late in 2015 following the merger of two long- established credit unions: Castle Credit Union and North Edinburgh Credit Union. Since its establishment, the business has progressed and is now considered to be amongst the top 5 credit unions in the UK.

A credit union is a financial institution which is owned by its members and is registered on the FCA Mutual Register as entity 0019CUS. From a governance perspective, Castle Community Bank is supported by both the Prudential Regulation Authority and the Financial Conduct Authority with registration reference 213877.

Castle Community Bank provides both loans and savings for members across the UK within their Common Bond*. All savings up to £85,000 are fully protected by the Financial Savings Compensation Scheme.

* The Common Bond means a member/depositor must be eligible by their employment code or by membership in a recognised institution such as the Co-Op or National Trust.

Bank details

Headquarters: Edinburgh
Year established: 2015

Security and deposit guarantee

Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) http://www.fscs.org.uk/. The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

Timescales for the return of your money can vary between different banks and banking groups. This bank holds funds under a trust model. Funds held under a trust model can take up to three months to be returned, but in most cases will be returned sooner than this.

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