Strathkelvin Credit Union Limited in the Glasgow area declared in default: FSCS to protect its 1,820 members
The Financial Services Compensation Scheme (FSCS) has stepped in to protect the members of Strathkelvin Credit Union Limited, which has stopped trading and is now in default.
FSCS aims to compensate the 1,820 members of the credit union, which is in Kirkintilloch, Glasgow, within seven days. Using the credit union’s records, FSCS will send each member a cheque for their balance automatically.
FSCS expects the total compensation for Strathkelvin Credit Union to be around £1.96m.
Caroline Rainbird, Chief Executive of FSCS, yesterday said:
“We want to reassure members of Strathkelvin Credit Union and let them know that their savings are safe. FSCS has now stepped in and most members will receive their money by cheque directly from us within a few days. There is no need to make a claim, these cheques will arrive automatically to help members get back on track as soon as possible.”
There is a dedicated page including questions and answers which may be useful for members of Strathkelvin Credit Union on FSCS’s website.
For more information on how FSCS can protect people with current or savings accounts in credit unions, banks and building societies, please visit the FSCS website and our ‘what we cover’ page.
Any questions about Strathkelvin Credit Union can be directed to the administrators, Dina Devalia, Simon Bonney and Ian Wright of Quantuma Advisory Limited. They can be contacted by telephone in the first instance on 0141 432 0360 or 0141 776 6446, or alternatively by telephone on 0141 348 7808 or e-mail at email@example.com. Any post should be addressed to Strathkelvin Credit Union Limited c/o Quantuma Advisory Ltd, High Holborn House, 52-54 High Holborn, London WC1V 6RL.
T: 07730 668 558
Latest News from
The front line of financial harm01/07/2022 14:10:00
FSCS Chief Executive Caroline Rainbird talks about the balance we need to strike to support all our varied stakeholders and the importance of reducing consumer harm.
FSCS declares 11 firms in default in April and May10/06/2022 14:10:00
Regular notice that consumers could be in line for compensation.
Our May 2022 Outlook26/05/2022 12:17:00
FSCS Chief Executive Caroline Rainbird introduces our May 2022 Outlook, focusing on the 2022/23 levy forecast.
FSCS confirms latest 2022/23 levy forecast of £625m and publishes report to support discussion on the future of financial services compensation in the UK26/05/2022 09:06:00
#7 Your guide to financial advice and FSCS protection23/05/2022 14:31:59
Many of us take financial advice when we’re choosing or swapping products like pensions and mortgages. But what exactly is financial advice and how is it different from tips and guidance? In this episode Jess is joined by colleague Emma and MoneyHelper’s Jenny to discuss this and how FSCS can protect you if you’ve taken financial advice.
Rainbow Saver Anglia Credit Union Limited in Suffolk declared in default: FSCS to protect 463 remaining members19/05/2022 13:43:00
The Financial Services Compensation Scheme (FSCS) has stepped in to protect the remaining members of Rainbow Saver Anglia Credit Union Limited, which has stopped trading and is now in default.
North East Warrington Credit Union (NEWCU) Limited declared in default: FSCS to protect its 1,182 members06/05/2022 14:20:00
The Financial Services Compensation Scheme (FSCS) has stepped in to protect the members of North East Warrington Credit Union (NEWCU) Ltd, which has stopped trading and is now in default.
#6 What happens if my insurer goes bust?28/04/2022 14:29:41
Imagine you’ve got an insurance policy and your insurance provider goes bust. Do you know what happens next and how FSCS can help? Jenny and Martin from our insurance team join Jess to talk about what you can expect to happen and the different ways that FSCS can help.