Frequently Asked Questions

 

Gloucestershire Credit Union Limited, Gloucester Central Library, Brunswick Road, Gloucester, GL1 1HT

 

1. Gloucestershire Credit Union Limited – what has happened to it and is my money safe?

 

You do not need to worry as your money is safe.

 

On 14 September 2022 Gloucestershire Credit Union Limited was placed into Administration and has now stopped trading. James Sleight and Peter Hart of PKF Geoffrey Martin & Co Limited (PKF GM) are the appointed Joint Administrators.

 

They will contact you by post with documents about the Administration for your information only, you do not need to do anything.

 

The Financial Services Compensation Scheme (FSCS) declared Gloucestershire Credit Union Limited in default on 14 September 2022 which means it can step in and return money to members.

 

2. What is the Financial Services Compensation Scheme (FSCS)?

 

FSCS is a free service that protects the customers of authorised financial services firms, such as Gloucestershire Credit Union Limited. This means FSCS protects any savings you have with this credit union up to £85,000 per person.

 

3. What do I need to do to get my money back?

 

You do not need to do anything. FSCS will automatically pay you back your savings using the account information it receives from Gloucestershire Credit Union Limited. FSCS will contact you by post.

 

4. How soon will I get my money back?

 

In most cases, FSCS aims to make payment within seven days from the date Gloucestershire Credit Union Limited was declared in default, which was 14 September 2022. For more complex cases, which may need further investigation, FSCS will aim to return members’ money within 10 working days.

 

5. How will FSCS pay me back my money?

 

FSCS will send the Credit Union members a cheque by post or courier in an unmarked envelope.

 

 

 

6. How will FSCS calculate how much payment I am entitled to?

 

FSCS will receive information from Gloucestershire Credit Union Limited that will show your individual balance. The amount you receive will be the balance of your account on 14 September 2022.

 

7. What should I do if I disagree with the amount FSCS has paid me and I have not banked the cheque?

 

If you disagree with the amount paid by FSCS, please call the Administrators’ team first on 01452 595 290 or 01452 422 712, or alternatively call 0113 244 5141 or email gcul@pkfgm.co.uk and they will look into your query. Do not return your payment to FSCS unless you are specifically asked to do so.

 

8. I do not have another bank account. What should I do with my cheque?

 

You will need to open a bank account with another provider (e.g. a bank, a credit union, building society ) so that you can bank the cheque as soon as possible.

 

If you need help opening a basic bank account, your local Citizens Advice Bureau should be able to help you. Alternatively, please visit your local high street branch of a bank or building society. Below are the details of a Citizens Advice Bureau that is near to the Credit Union.

 

Details for the Citizens Advice North & West Gloucestershire (Cheltenham, Forest of Dean, Gloucester and Tewkesbury):

 

Address: Messenger House, 35 St. Michaels Square, Gloucester, GL1 1HX

Email: info@gloscab.org.uk

 

Opening Hours:

 

They have changed the way they provide advice with the aim to be able to support as many people as possible.

 

The majority of the advice they provide is now by telephone and email.

 

Where appropriate and in certain circumstance they will offer face to face advice at the locations listed on their website and in exceptional circumstances, home visits can be arranged.

 

Phone services: 01452 527 202 (lines are open Monday to Friday 10am to 4pm)

 

 

Details for the Citizens Advice South Gloucestershire:

 

Address: Kennedy Way, Yate, BS37 4DQ

Email: bureau@sgloscab.cabnet.org.uk

(Do not email for advice or appointment, you must call freephone number 0808 278 7947)

 

Opening Hours:

 

Drop-in services as follows

• Yate – Tuesday 10-3pm & Friday 10-1pm
• Thornbury – Tuesday 10-12pm,
• Bradley Stoke – Wednesday 10-12pm
• Stoke Gifford – 2^nd and 4^th Monday of every month 12.30-2.30pm

 

Phone Services: Freephone Adviceline number is 0808 278 7947 (line opening hours not provided on website).

 

Further information on basic bank accounts can be found on the internet, one such example can be found at https://www.moneyhelper.org.uk/en/everyday-money/banking/basic-bank-accounts.

 

9. Can I still access the Credit Union’s digital services via the web portal or mobile phone apps?

 

No. This service has now closed so you will no longer be able to view or manage your account(s) or request a withdrawal of funds.

 

10. Can FSCS make a payment directly to my account with another bank?

 

No. FSCS will pay you your compensation by sending you a cheque in an unmarked envelope.

 

11. I hold a prepaid money card with Engage. Are the funds I have loaded onto this safe?

 

Yes, your funds are safe and are not affected by the closure of the Credit Union.

If you hold a prepaid money card with Engage, any funds loaded onto it can continue to be used as normal.

For any questions about your prepaid Engage card, please contact them directly. Their contact details can be found on their website as follows:

 

Website: https://engageaccount.com/

Email:    info@engageaccount.com

 

 

 

12. My salary and benefits are paid into my Gloucestershire Credit Union Limited savings account. What should I do?

 

Gloucestershire Credit Union Limited savings accounts will be closed. If your salary or benefits are paid into your savings account, you will need to open a new bank account as soon as possible. You should contact your employer, pension provider or the Department for Work and Pensions (DWP) to tell them to pay your salary or benefits into your new account.

 

If you are in receipt of any of the following benefits:

 

• Jobseeker’s Allowance
• Income Support
• Employment and Support Allowance
• Universal Credit
• Personal Independence Payment
• Disability Living Allowance

 

some useful contact details are as follows:

 

• You can contact your local JobCentre Plus or telephone the DWP on the following Freephone numbers: Employment Support Allowance (ESA) – 0800 169 0310
• Income Support (IS) – 0800 169 0310
• Jobseekers Allowance (JSA) – 0800 169 0310
• Universal Credit – you can contact Universal Credit by calling the Universal Credit Helpline on: 0800 328 5644 or through your online account. Further information can be found here: https://www.gov.uk/universal-credit/contact-universal-credit
• Personal Independence Payment (PIP) – 0800 121 4433
• Disability Living Allowance (DLA) – 0800 121 4600

 

All customers will need to provide details of an alternative bank or building society to enable future DWP payments to be made.

 

To have your benefit payments paid into an alternative bank, building society or local credit union account you will need to contact the following agencies with your new bank details:

 

• Housing Benefit – Details of the local council in Gloucester:
  Website: https://www.gloucester.gov.uk
  Contact details for Gloucester City Council: 92 Westgate Street, Gloucester, GL1 2PE

Website: https://www.gloucester.gov.uk/benefits-and-support/benefits/housing-benefit/

Contact Centre telephone number: 01452 396 396

• Working Tax/Child Tax Credits - This is an HM Revenue & Customs (HMRC) administered benefit. To change your bank account details, you will need to contact HMRC on 0345 300 3900
• Child Benefit - This is also HMRC administered. You can change your bank account details online using the HMRC webpages at gov.uk or telephone 0300 200 3100. Alternatively, you can write to HMRC at: HM Revenue & Customs, Child Benefit Office, PO Box 1, Newcastle Upon Tyne, NE88 1AA.

 

If you need help contacting these agencies, your local Citizens Advice Bureau should be able to help you. Contact them using the details provided in question 8 above.

 

13. My child has a savings account with Gloucestershire Credit Union Limited. What will happen to their savings?

 

For junior members, FSCS will send a payment in the name of the account holder for the money in their account at the date of default. If the account is operated by an adult on behalf of the child, the cheque will be sent to the account operator’s address, if that has been registered with the Credit Union, but the payment will be in the child’s name. A new account in that name will need to be opened with an alternative provider. We cannot pay to parents or guardians.

 

14. I make regular payments to my account each month by direct debit or standing order. Should I cancel the direct debit or standing order now?

 

If this payment is just for savings, you should cancel it as no further money will be added to your savings account. You will need to arrange for these payments to be paid into a new or different account and should cancel any existing arrangements that direct these payments to your Gloucestershire Credit Union Limited savings account.

 

You can cancel the standing order at any branch of your bank or building society, over the phone or via secure online banking. However, you will need to give your bank/building society a couple of days’ notice before the payment is due to come out of your account. If your standing order is also for loan repayments, do not cancel it and please see question 15 below.

 

15. I had a loan with Gloucestershire Credit Union Limited. Will I have to repay it, and should I cancel the standing order?

 

Do not cancel any repayments as your loan agreement remains in place and you must make your repayments as originally contracted.

 

Future loan repayments will be managed by the Joint Administrators, James Sleight and Peter Hart of PKF GM, who will contact you about this and provide you with the Administration bank account details as soon as they can.

 

If you made payments covering both loans and savings the Administrator will be able to advise you of the new amount you need to pay each month for your loan so that you do not fall into arrears.

 

For further information about your loan, please call 01452 595 290 or 01452 422 712, or alternatively call 0113 244 5141 or email gcul@pkfgm.co.uk and they will look into your query.

 

Gloucestershire Credit Union Limited is no longer accepting loan repayments through a service point (a service point is another point, or location, from where the Credit Union may have offered its services). Please contact the Joint Administrators’ team on 01452 595 290 or 01452 422 712, or alternatively call 0113 244 5141 or      email gcul@pkfgm.co.uk to discuss arrangements for the repayment of your loan another way.

 

16. Can I open up an alternative credit union account?

 

If you wish to open a new credit union account you can do so with another credit union. The website www.findyourcreditunion.co.uk may help you see the options available to you.

 

17. A payment was transferred into my Credit Union account around the time FSCS declared Gloucestershire Credit Union Limited in default. This amount does not appear to have been credited. Will the balance on my account be updated to reflect this payment?

 

FSCS will receive information from Gloucestershire Credit Union Limited which will show the individual balances of all accounts held by its members on the date of default, 14September 2022. Any amounts paid into your account on or after the Administration date will not be added to your savings balance and will be dealt with by the Joint Administrators’ team. You can contact them by phone on 01452 595 290 or 01452 422 712, or alternatively on 0113 244 5141. You can also email them at: gcul@pkfgm.co.uk.

 

18. Do I need to notify FSCS if I have recently changed address?

 

FSCS will send payment to the address that Gloucestershire Credit Union Limited holds on its database.

 

If you did not let Gloucestershire Credit Union Limited know of your change of address before it was declared in default, or you notified Gloucestershire Credit Union Limited of this change but did not receive confirmation that its records had been updated before it was declared in default, FSCS will need to see evidence of your change of address before any compensation payment can be made.

 

Please contact the Joint Administrators' team in the first instance on 01452 595 290 or 01452 422 712, or alternatively call 0113 244 5141 or email gcul@pkfgm.co.uk to give the team evidence of the change of address. Once confirmed, they will instruct FSCS to make payment to the new address.

 

Documents that can be used as evidence include a council tax bill, a utility bill (not a mobile phone bill) or benefits entitlement letter, so long as they are less than three months old.

 

19. Do I need to notify FSCS if I have recently changed my name?

 

If you have already banked the cheque, you do not need to take any further action. If you have not received your payment or can’t bank the cheque, we will need to see evidence of your name change before we can return your money.

 

Please contact the Joint Administrators’ team on 01452 595290 or 01452 422712, or alternatively call 0113 244 5141 or email gcul@pkfgm.co.uk with evidence of the change of name and once confirmed they will tell FSCS to make payment in the new name.

Documents that can be used as evidence include an original or certified copy of a marriage certificate or a deed poll. Additionally, you will need to provide a council tax bill, or a utility bill (not a mobile phone bill) or benefits entitlement letter with your new name, dated less than three months ago.

20. I am the executor for someone who has recently died. Do I need to contact FSCS?

 

If the estate has already banked the cheque, you do not need to take any further action. If the estate has not received the payment, you will need to send FSCS the original Death Certificate, Grant of Probate and a copy of the will or letter of administration. These documents are required before FSCS can make a payment.

 

However, should you wish to contact FSCS about any issues you may have, please call freephone 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday 9am to 5pm excluding public holidays.

 

Alternatively, you can send these documents to the Joint Administrators by email to gcul@pkfgm.co.uk or by post to PKF GM, 3^rd Floor, One Park Row, Leeds, LS1 5HN. The Joint Administrators will then contact FSCS so that we can pay compensation.

 

 

 

 

 

21. How will I be able to find out what is happening?

 

In the first instance, you should call the Joint Administrators’ team on 01452 595 290 or 01452 422 712, or alternatively call 0113 244 5141 or email gcul@pkfgm.co.uk.

If you have a query about compensation from FSCS, further information is on its website at www.fscs.org.uk; or you can call freephone 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday 9am to 5pm excluding public holidays.

 

The Joint Administrators are Data Controllers and a privacy policy statement as required by the General Data Protection Regulation is available at: https://pkfgm.co.uk/privacy-policy/. Should you wish to be supplied with a hard copy, free of charge, please contact the Joint Administrators’ team on 0113 244 5141 or email gcul@pkfgm.co.uk.