Cardenden & Kinglassie Credit Union Ltd

Failed 19 July 2021

FRN: 213808

You don't need to do anything

Cardenden & Kinglassie Credit Union Ltd has failed.

On 19 July 2021, Cardenden & Kinglassie Credit Union Ltd was placed into liquidation and ceased trading. The Financial Services Compensation Scheme declared Cardenden & Kinglassie Credit Union Ltd in default on 19 July 2021.

As a Cardenden & Kinglassie Credit Union customer, you don't need to worry, as your money is safe. 

FSCS will automatically pay back your money, according to the account details we receive from the credit union. We'll contact you by post.

There are more details below, and answers to commonly asked questions on the Q&A tab.

Download the determination papers (pdf 0.1MB).

In most cases, FSCS aims to make payment within seven days from the date of default, on 21 July 2021. For more complex cases, which may require further investigation, we'll aim to settle claims within 10 working days of being notified of the issue.

All payments will be made by cheque, sent by post in an unmarked envelope. 

FSCS will receive information from Cardenden & Kinglassie Credit Union Ltd that will detail your individual credit balance. The payment you receive will be the balance on your account as at the date FSCS declared Cardenden & Kinglassie Credit Union Ltd in default, on 21 July 2021.

If you disagree with the amount paid by FSCS, please contact us via email at cardendencu@fscs.org.uk or you can call 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday, 9am–5pm, excluding public holidays. Do not return your payment to FSCS unless you are specifically asked to do so.

You'll need to open a bank account with another deposit taker (e.g. a bank, building society or the Post Office). You should bank the cheque as soon as possible.

If you need help in opening a Basic Bank Account, your local Citizens Advice Bureau should be able to help. Or visit your local high street bank. Below are the details of a Citizens Advice Bureau near the location of Cardenden & Kinglassie Credit Union Ltd.

Details for the Citizens Advice Bureau in Fife:

322 High Street
Cowdenbeath KY4 9NT
Telephone: 0345 1400 095 (general advice) or 0345 1400 094 (debt advice)
Website: www.cabfife.org.uk

Further information on Basic Bank Accounts can be found on the moneysavingexpert website.

If your salary or benefits are paid into your account at Cardenden & Kinglassie Credit Union, you'll need to open a new account elsewhere – and tell your employer or the Department for Work and Pensions. 


FSCS

If you've any further questions, contact us via email at cardendencu@fscs.org.uk