Barrow & District Credit Union Ltd
Failed 16 September 2021
You don't need to do anything
Barrow & District Credit Union Ltd has failed.
On 16 September 2021, Barrow & District Credit Union Ltd was placed into administration and ceased trading. The Financial Services Compensation Scheme declared Barrow & District Credit Union Ltd in default on 16 September 2021.
As a Barrow & District 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).
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.
I have heard that my Barrow & District Credit Union Ltd savings account will no longer operate. What should I do?
Barrow & District Credit Union Ltd accounts will no longer operate. If your salary or benefits are paid into your account, you will need to open a new bank account as soon as possible. If you think you may struggle with this, speak to the local Citizens Advice Bureau about basic bank accounts - details are below.
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 direct debits or standing orders are paid into your Barrow & District Credit Union Ltd account, you will need to arrange for these payments to be paid into your new account. You should cancel any existing arrangements that direct these payments to your Barrow & District Credit Union Ltd account.
Some useful contact details are below 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
You can contact your local Jobcentre, 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 (Live Service) - 0800 328 9344
- Universal Credit (Full Service – e.g. online account) – Put a note in your journal (if you cannot access your account call 0800 328 5644)
- Personal Independence Payment (PIP) – 0800 121 4433
- Disability Living Allowance (DLA) – 0800 121 4600
You'll 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:
Details of the local council (local to the establishment of Barrow & District Credit Union Ltd):
- Website: www.barrowbc.gov.uk/residents/council-tax/council-tax-and-housing-benefits-contacts/
- Email: email@example.com
- Tel. 01229 404242, 8.30a.m. to 5.00p.m. Monday to Thursday and 8.30 a.m. till 4.30 p.m. on a Friday (Revenues & Benefits have a dedicated telephone team who answer all general enquiries from members of the public).
Working Tax/Child Tax Credits
This is HM Revenue & Customs administered benefit. To change bank account details, you will need to contact HMRC on 0345 300 3900 (ideal route) or write to CAST (BC), WP1012, TCO, Waterview Park, Mandarin Way, Washington, Tyne & Wear NE38 8QG.
This is HMRC administered also. To change your bank account details, you can do this online using the HMRC webpages from www.gov.uk or telephone 0300 2003100. 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 in contacting these agencies, your local Citizens Advice Bureau should be able to help you.
If you need help in opening a 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 that is near the offices of Barrow & District Credit Union Ltd.
- Address: Ramsden Hall, Abbey Road, Barrow-in-Furness, Cumbria, LA14 5QW
- Telephone: Advice line – 0808 2787 817
- Website: hwww.barrowcitizensadvice.org.uk/
Opening hours: The CAB website advises that you can get still get full advice via the phone 0808 2787 817 from 9.15am to 4pm, Monday to Friday.
They offer telephone appointments for in-depth advice and ongoing casework. They may ask you to email, post or drop paperwork into their office but that they will make every effort to deliver the service you need.
Further information on Basic Bank Accounts can be found on the internet, one such example can be found at www.moneysavingexpert.com/banking/basic-bank-accounts
My child has a savings account with Barrow & District Credit Union Limited. What will happen to his/her savings?
For junior members, FSCS will send a payment in the name of the account holder for the balance of their account at the date of default.
If an adult manages the account on behalf of the child, the cheque will be sent to the account operator’s address, but payment will be issued in the child’s name.
A new account in that name will need to be opened with an alternative provider. We cannot pay parents or guardians.
I hold a Child Trust Fund account with Barrow & District Credit Union Ltd. What do I do?
If you are the holder of a Child Trust Fund account, the reimbursement process is different to that for other account holders.
Payment can only be made to an alternative Junior ISA provider rather than returned directly to the account holder.
The Administrators will shortly be writing to the registered holders of Child Trust Fund accounts with Barrow & District Credit Union Ltd with further information about the next steps.
I make regular payments to my account each month by standing order. Should I cancel the standing order now?
If this payment relates solely to savings, you should cancel it as no further money will be credited to your 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 also relates to loan repayments, do not cancel it and please see the question below.
I had a loan with Barrow & District Credit Union Ltd. 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 maintain 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 be in contact. They'll provide you with the Administration bank account details as soon as they are able to.
If you made payments covering both loans and savings then the Administrator will be able to advise you of the net payment required to be made each month in respect of your loan so that you do not fall into arrears.
For further information about your loan, please call us on 0800 678 1100.
Barrow & District Credit Union Ltd is no longer accepting loan repayments through a service point. Please contact us to discuss arrangements for the repayment of your loan by alternative means.
Can I open up an alternative credit union account?
Yes - the website www.findyourcreditunion.co.uk may help with finding suitable options.
A payment was transferred into my credit union account around the time FSCS declared Barrow & District Credit Union Ltd 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 Barrow & District Credit Union Ltd that will detail the individual credit balances of all accounts held by its members at the date of default, 16 September 2021.
Any amounts paid into the account after the Administration date will not be added to your savings balance. Please contact us on 0800 678 1100 for more information.
Do I need to notify FSCS if I have recently changed address?
FSCS will send payment to the address that Barrow & District Credit Union Ltd held on its database.
If you did not notify Barrow & District Credit Union Ltd of your change of address before it was declared in default, or you notified Barrow & District Credit Union Ltd 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 the change of address before any compensation payment can be made.
Please contact us on 0800 678 1100, and supply us with evidence of the change of address. Once confirmed, we'll 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 a benefits entitlement letter, so long as they are less than three months old.
Do I need to notify FSCS if I have recently changed my name?
If you have already banked the cheque payment, you do not need to take any further action. If you have not received your payment or are unable to bank the cheque provided in the name it is sent in, we will need to see evidence of your name change before we can make a payment.
You will need to provide original documentation or a certified copy of an official document showing your change of name. Examples include a marriage certificate or deed poll - and this will allow us to update our records and process the claim.
Please contact us on 0800 678 1100 and to dicuss how to send evidence of the change of name. Once confirmed we will make payment in the new name.
Documents that can be used as evidence include 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, so long as they are less than three months old.
I am the executor of a depositor who has recently died. Do I need to contact FSCS?
If the estate has already banked the cheque payment, 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 should be original documents. These documents are required before FSCS can make a payment.
However, should you wish to contact FSCS regarding any issues that you have, please call freephone 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday 08.30 to 17.30.