FOS report boosts credit unions

The Financial Ombudsman Service’s annual report has confirmed high levels of satisfaction among credit union members.

Only one in every 66,000 complaints and inquiries received was related to a credit union and only one in 11,700 complaints taken forward by the Ombudsman related to credit unions. 

While the FOS say the number of complaints overall rose by around 30 per cent, complaints against credit unions dropped by almost a fifth. Just 14 credit union members raised complaints with credit unions.

ABCUL Chief Excecutive Mark Lyonette commented: “Yet again, the FOS’s annual report has shown that credit unions provide members with excellent customer service. 

“To have complaints against credit unions to falling in time of deep financial uncertainty and rising complaints overall is something to be proud of.”

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