Gloucestershire Credit Union Limited – In Administration (“GCUL”)
James Sleight and Peter Hart of PKF GM were appointed as Joint Administrators of GCUL on 14 September 2022.
The Financial Services Compensation Scheme (“FSCS”) has also declared the credit union in default, which means that all savers’ monies are protected and will receive their funds (up to the limit of £85,000 per individual).
James Sleight, of PKF GM, said: “All of GCUL’s savers will have their balance returned by the FSCS. They don’t need to do anything to get their money back; savers should look out for a letter in the post from the FSCS in the next few days.”
GCUL has now ceased trading.
Don’t worry, your money is safe
You do not need to do anything to make a claim for your GCUL savings balance with the FSCS as they will send you payment in respect of your account balances as at 13 September 2022 very soon. Should any monies be paid into GCUL’s bank account on or after 14 September 2022 until the account is closed where you are the intended recipient you will need to complete a return of funds request form which will be issued to you by post shortly by the Joint Administrators.
Members should be aware that where contact details are missing for members who still have money in their GCUL accounts the FSCS will not be able to issue cheques to these members immediately. If members have not updated any recent change of address with GCUL they are advised to make contact as soon as possible.
Your benefits, salary or other regular deposits into your GCUL’s account
You need to contact the DWP or any other government offices that handle your benefits and give them new account details for another account in your name. If you do not have an account with any other bank or credit union, you will need to set one up immediately as GCUL’s bank account will be closed.
Loan(s) with GCUL
You need to continue to make your contractual repayments on your loan(s) until fully paid off.
You should cancel any direct debits or standing orders you currently have in place in relation to your loan repayments and contact GCUL’s or the Joint Administrators’ office on the numbers published below to obtain the new Administration bank account details to set up a standing order to resume your contractual loan repayments.
For further information
The FSCS has further information available on its website at:- Gloucestershire Credit Union Ltd - info for customers | FSCS, along with their Frequently Asked Questions which are published alongside this notice.
For any queries please contact the Administration team in the first instance on 01452 595 290 or 01452 422 712 or email email@example.com alternatively please call 0113 244 5141.
Tel +44 (0) 113 244 5141 · firstname.lastname@example.org · www.pkfgm.co.uk
PKF GM · 3rd Floor · One Park Row · Leeds · LS1 5HN
PKF GM is the trading name of PKF Geoffrey Martin & Co Limited, registered as a limited company in England and Wales number 08867423. Registered office 15 Westferry Circus, Canary Wharf, London E14 4HD. PKF Geoffrey Martin & Co Limited is a subsidiary of PKF Littlejohn LLP, a member of the PKF International Limited network of legally independent firms and does not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms. Unless otherwise stated Licensed Insolvency Practitioners are authorised in the United Kingdom by the Insolvency Practitioners Association and when acting as Administrators or Receivers do so without personal liability.
Details of our office locations can be found at www.pkfgm.co.uk