On November 19, 2014, Northern Irish Lower Iveagh Credit Union was placed into liquidation. Auditors have stated that loan and share balances in the last set of published accounts appeared to be materially incorrect. The Financial Services Compensation Scheme (“FSCS”), which protects up to £85,000 in deposits and investments in the event of regulated firms going into liquidation, will pay compensation to each member of the credit union.

The FSCS press release is available at:

http://www.fscs.org.uk/news/2014/november/lower-iveagh-credit-union-decl-v9hu8yh1x.