North Yorkshire Credit Union collapses, are credit unions safe?

Sarah Coles
Updated
York Minster
York Minster

Anna Gowthorpe/PA

The North Yorkshire Credit Union has been placed in liquidation. The York-based union has been keen to point out that savers will not lose their money, and they will get their cash back within a week.

However, given that this is the sixth credit union to go under in 2012, should we worry about them?
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