Pioneer Mutual Credit Union Ltd
Failed 03 March 2021
You don't need to do anything
Pioneer Mutual Credit Union Ltd, in Barrhead, Glasgow, has failed.
As a Pioneer Mutual 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.
11/3/21 - We have resolved the issue for the small proportion of affected members who could not cash their payments. New cheques were re-issued via first class post yesterday.
9/3/21 - We’re aware that a small number of Pioneer Mutual’s members have had problems cashing their cheques – our payments team are currently investigating.
Determination papers (pdf 0.1MB)
In most cases, FSCS aims to make a payment within seven days of the default date, on 3 March 2021. For more complex cases, which may need further investigation, we'll aim to settle claims within 10 working days of being notified.
Pioneer Mutual Credit Union Ltd will send us the details of your individual credit balance. We will send you a cheque in an unmarked envelope.
The amount you receive will be the balance on your account at the date we declared the credit union in default, on 3 March 2021.
If you disagree with the amount paid by FSCS, please contact the administrators, Dina Devalia and James Sleight of PKF Geoffrey Martin & Co Ltd on 0141 432 1250 or 0141 881 1353 or alternatively on 0113 244 5141. Alternatively, email email@example.com and they'll look into your query.
Do not return your payment to us unless you're specifically asked to do so.
To bank the cheque you'll need to open an account with another bank, building society or the Post Office, and you should bank the cheque as soon as possible.
If your salary or benefits are paid into your account at the credit union you'll need to open a new account elsewhere – and tell your employer or the Department for Work and Pensions.
If the estate has already banked the cheque payment, you don't need to take any further action. If the estate hasn't received the payment, you'll need to send FSCS the original death certificate, grant of probate and a copy of the will or letter of administration.
These should be original documents and are required before FSCS can make a payment. However, should you wish to contact FSCS regarding any issues, please call freephone 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday from 09:00 to 17.00.
Alternatively, you can send these documents to the administrators by email to firstname.lastname@example.org or by post to Pioneer Mutual Credit Union Limited c/o PKF Geoffrey Martin & Co Limited, 3rd Floor, One Park Row, Leeds, LS1 5HN. The administrators will then contact FSCS to enable the compensation payment to be made.
Contact the Joint Administrators’ team on 0141 432 1128, 0113 244 5141; or e-mail email@example.com.