by CCB News | Dec 1, 2025 | News
From 1 December 2025 the Financial Services Compensation Scheme (FSCS) deposit protection limit will rise from £85,000 to £120,000 on single accounts and from £170,000 to £240,000 on joint accounts.
This means that if anything were ever to happen to Castle Community Bank, or any other UK-authorised bank, building society or credit union, where you hold deposits or savings and it goes out of business, FSCS can compensate you up to the new limits per eligible person, per authorised firm.
You don’t need to take any action – the increased protection applies automatically.
Check out our savings options
Why will the deposit limit increase?
Under the Deposit Guarantee Scheme Regulations 2015, the Prudential Regulation Authority (PRA) is required to review the FSCS deposit compensation limit periodically and at least every five years.
The PRA consulted on a proposed increase to the deposit compensation limit in March 2025 and confirmed its final rules in November 2025.
Between 1 January 2017 and 30 November 2025, the deposit compensation limit was £85,000.
Things affecting compensation
Where you hold your money could affect how much compensation you’re entitled to. If you have money in multiple accounts with multiple banks that are part of the same banking group (and share a banking licence) FSCS have to treat them as one bank.
What is the ‘FSCS Protected’ badge – and why should you look out for it?
If you’re looking for a new deposit product (e.g. a current or savings account) from a UK-authorised bank, building society or credit union, it’s important to check that your money will be protected by FSCS. That way, FSCS can automatically pay you compensation if your provider fails and can’t pay back your money.
A quick and easy way of finding out is by looking for the ‘FSCS Protected’ badge.
What is the ‘FSCS Protected’ badge?
Disclosure requirements set by the Prudential Regulation Authority (PRA) require authorised banks, building societies, credit unions, Northern Ireland credit unions and certain overseas firms with branches in the UK to inform new and existing customers that FSCS protects their deposits.
FSCS also encourage protected deposit providers to display the ‘FSCS Protected’ badge, a symbol that indicates that eligible deposits held by a provider are protected by FSCS under the Deposit Guarantee Scheme. That means if your bank, building society or credit union fails, FSCS can automatically compensate you [from 1 December 2025] up to £120,000 per eligible person, per firm.
Find out more about how FSCS protect banks, building societies and credit unions.
To make the badge more recognisable and work better in digital settings, the badge was updated on 18 November 2025. There’s a six-month grace period for banks, building societies and credit unions to update the instances where the FSCS Protected badge is displayed. This means that you may see the old badge (below) displayed for a little while yet.
Do non-deposit firms display the ‘FSCS Protected’ badge?
Non-deposit firms (such as pensions, investments and insurance providers) are not currently permitted or required to display the ‘FSCS Protected’ badge.
by CCB News | Aug 8, 2025 | News
We’re delighted to announce the recent involvement of Lenvi as back-up servicer on Castle Community Bank’s circa £300m facility and My Community Finance. This latest facility reinforces the longstanding partnership between the two parties as My Community Finance continues to provide vital servicing to Castle Community Bank’s growing portfolio of personal loans and savings clients.
Castle Community Bank is one of the largest member-owned credit union in the UK, dedicated to providing accessible, ethical, and affordable financial services to individuals and families across the UK. Our focus is on supporting communities with fair financial solutions that promote financial wellbeing and inclusion. Complementing Lenvi is the work of My Community Finance who provide access to ethical, community-focused financial products across the UK by connecting savers and borrowers with a network of partner credit unions.
Castle Community Bank relies on third party outsourcers like My Community Finance, to provide originations and servicing on all our loan portfolios.
“Partnering with Lenvi’s team for back-up servicing has provided an extra layer of confidence for us, our investors, and our deposit members in the strength and resilience of our operations. Everyone we’ve worked with at Lenvi has been approachable, transparent, and straightforward in their communication. Their delivery exceeded our expectations and proved incredibly valuable to our business.” Adrian Sargent, CEO – Castle Community Bank
“We’re delighted to have supported Castle Community Bank and My Community Finance in this latest deal. Castle Community Bank are now one of the largest credit unions in the UK and their innovative approach sets them apart from more traditional models, so it’s a pleasure to work alongside them as back-up servicer. We look forward to our continued work together.” Brad Owen, Senior Business Development Manager – Lenvi
Stay up to date with Castle Community Bank news, do follow us on LinkedIn and subscribe to our newsletter.
by CCB News | Jul 8, 2025 | News
A social impact summary, Trustpilot member reviews, inheritance planning and more in our latest newsletter.
Catch up on the summer news from Castle Community Bank.
by CCB News | Oct 3, 2024 | News
Your stories, find out how to protect yourself from scams, a reminder about money tools for members and more in our latest newsletter.
Catch up on the autumn news from Castle Community Bank.
by CCB News | Sep 9, 2024 | News
It’s UK Savings Week which is about raising awareness that savings are what you make of them, whether that be something to look forward to, or something to fall back on.
Encouraging savings promotes long-term financial planning and goal setting. Whether it’s saving for a home, education, retirement or other major life events, having a savings pot in place enables individuals to achieve their objectives without incurring excessive debt. This not only enhances financial confidence/ security but also contributes to general well-being and peace of mind.
Start your savings journey today with Castle Community Bank.
#UKSavingsWeek
by CCB News | Jul 2, 2024 | News
Community support, scammer awareness, supporting women in business, Financial Inclusion for Scotland strategy launch and more in our latest newsletter.
Catch up on the summer news from Castle Community Bank.
