Your eligible deposits with Progressive Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.
Important information about the scheme
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations. An eligible depositor is entitled to claim up to £85,000.
For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000).
The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with a building society, including their share of any joint account, and not to each separate account.
View the FSCS Information Sheet here.
For More Details
For more information, please call us on 02890 160950, speak to a member of staff at your local Progressive branch.
You can visit the Prudential Regulation Authority, or head to the FSCS and FCA websites for more details.