Dial-A-Cab Credit Union has failed
The Financial Services Compensation Scheme (FSCS) has announced the failure of Dial-A-Cab Credit Union Limited, based in London, which was declared in default on 4 September 2018.
This means the credit union can’t pay money to its 1,250 members. FSCS is stepping in to protect customers and we expect to pay over £21,000,000 to nearly all 1,250 customers within seven days of the failure being declared. We’ll send payments to members automatically, using the credit union’s records.
Jimmy Barber, Chief Operating Officer at FSCS, said:
“FSCS is committed to helping get people’s lives back on track by returning deposits as soon as we can. I’m pleased we’re able to return the majority of Dial-A-Cab customers’ deposits and that FSCS has lessened the disruption they would have otherwise experienced as a result of the credit union’s failure.”
FSCS protects up to £85,000 of money in UK authorised banks, building societies and credit unions. If you have a joint account, your money is protected up to £170,000. Customers with balances over our limits will be contacted directly by the administrators.
Dial-A-Cab Credit Union customers can find further information here.
For any queries please speak to Jo Milner and Stephen Cork of Cork Gully LLP who are the Administrators of Dial-A-Cab Credit Union Limited. You can call them on 020 7268 2150 or email: DACCU@corkgully.com
Please note: Dial-a-Cab Limited (Radio Circuit) of 39-47 East Road, London N1 6AH is unaffected by the administration of Dial-A-Cab Credit Union Limited.
Latest News from
LAMP Insurance apply for receivership21/05/2019 16:10:00
LAMP Insurance Company Limited (LAMP) has submitted an application to the Supreme Court of Gibraltar to appoint the Official Receiver and place LAMP into liquidation. The hearing date is set for 31 May 2019.
Steelworkers get improved payouts from Financial Services Compensation Scheme09/04/2019 16:05:00
The Financial Services Compensation Scheme (FSCS) has issued an update today (9th April 2019) about its compensation decisions for British Steel Pension Scheme (BSPS) members affected by the failure of Active Wealth, which wrongly advised them on pension transfers. The FSCS update comes ahead of a debate tomorrow in Parliament led by Nick Smith MP about the steelworkers' case.
Parkhead Credit Union Ltd has failed04/04/2019 10:25:00
The Financial Services Compensation Scheme (FSCS) has announced the failure of Glasgow-based Parkhead Credit Union Limited, which was declared in default on 3 April, 2019.
FSCS extends its deadline to secure a better outcome for customers of CRL Management02/04/2019 12:25:00
FSCS extends its deadline to secure a better outcome for customers of CRL Management.
Greater Milton and Possilpark Credit Union Ltd has failed13/03/2019 12:25:00
The Financial Services Compensation Scheme (FSCS) has announced the failure of Glasgow-based Greater Milton and Possilpark Credit Union Limited, which was declared in default on 12 March, 2019.
London Capital & Finance plc has failed07/03/2019 10:25:00
London Capital & Finance plc is in Administration. The Administrators are representatives from Smith & Williamson LLP.
Beaufort clients warned of potential scam11/02/2019 10:25:00
Beaufort administrators PricewaterhouseCoopers (PwC) have made FSCS aware that Beaufort clients are being approached by individuals claiming to be representatives of PwC or The Share Centre Limited (TSC).
FSCS warns consumers of potential scam05/02/2019 10:20:00
We want to make consumers aware of phishing emails claiming to be from FSCS that ask people to register a claim to receive large amounts of outstanding monies owed. These emails ask consumers to provide personal details.