You don't need to do anything
City of Plymouth Credit Union Ltd has failed.
On 27 April 2022, City of Plymouth Credit Union Ltd was placed into administration and ceased trading. The Financial Services Compensation Scheme declared City of Plymouth Credit Union Ltd as failed (in default) on 27 April 2022.
As a City of Plymouth Credit Union Ltd 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 we declared it failed, on 27 April 2022. 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 the City of Plymouth Credit Union Ltd that will detail your individual credit balance. The payment you receive will be the balance on your account on the date FSCS declared City of Plymouth Credit Union Ltd as failed, on 27 April 2022.
If you disagree with the amount paid by FSCS, please call the Administrators’ team on 01752 477410, 01752 201329, or 0113 244 5141. You can also email them at cpcu@pkfgm.co.uk and they will look into your query. Do not return your payment to FSCS unless you're 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.
Plymouth Citizens Advice Bureau, 3rd Floor, Cobourg House 32 Mayflower Street, Plymouth, Devon, PL1 1QX.
Plymouth Citizens Advice Bureau has said on its website that face-to-face advice services are closed until further notice and that it is continuing to run its phone services.
Freephone Advice Line telephone service: 08082 787 910
Monday to Thursday: 9am - 5pm,
Friday: 9am - 4:30pm.
Plymouth Citizens Advice Bureau website.
Further information on Basic Bank Accounts can be found on the MoneyHelper website.
Contact the administrators
James Sleight and Peter Hart of PKF Geoffrey Martin & Co Ltd
Yes, your funds are safe and are not affected by the closure of the credit union.
If you hold a prepaid money card with Vox or PFS, any funds loaded onto it can continue to be used as normal.
For any questions about your prepaid Vox card or PFS card, please contact them directly. Their contact details can be found on their websites:
Vox Card,
PFS Card.
City of Plymouth Credit Union Ltd savings accounts will be closed. If your salary or benefits are paid into your savings account, you'll 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 you'll need to provide details of an alternative bank or building society to enable future payments to be made.
- Jobseeker’s Allowance
- Income Support
- Employment and Support Allowance
- Universal Credit
- Personal Independence Payment
- Disability Living Allowance
Some useful contact details:
- 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 – you can contact Universal Credit by calling the Universal Credit Helpline on 0800 328 5644 or through your online account. Find more information on the .gov website.
- Personal Independence Payment (PIP) – 0800 121 4433
- Disability Living Allowance (DLA) – 0800 121 4600
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 Plymouth, contact details, address: Plymouth City Council, Plymouth, PL1 3BJ. Tel: 01752 668000 (Plymouth Council’s website says lines are open from Monday to Friday 9am to 5pm and Housing Benefit is only open from 10am to 4pm).
- Working Tax/Child Tax Credits - This is HM Revenue & Customs (HMRC) administered. To change your bank account details, 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 tel: 0300 200 3100. Alternatively, you can write to HMRC: 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.
Plymouth Citizens Advice Bureau
3rd Floor, Cobourg House 32 Mayflower Street, Plymouth, Devon, PL1 1QX
Freephone Advice Line telephone service: 08082 787 910
No. FSCS will pay you your compensation by sending you a cheque in an unmarked envelope.
If this payment is just for savings, you should cancel it as no further money will be added to your savings account. You'll 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 City of Plymouth Credit Union 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'll 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 the question below.
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 be in contact to provide you with the Administration bank account details as soon as they can.
If you made payments covering both loans and savings, then 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, call 01752 477410, 01752 201329, or 0113 244 5141 or e-mail cpcu@pkfgm.co.uk and they will look into your query.
City of Plymouth Credit Union is no longer accepting loan repayments through a service point (another point, or location where the Credit Union may have offered its services). Please contact the Joint Administrators’ to discuss arrangements for the repayment of your loan another way.
FSCS will receive information from the City of Plymouth Credit Union that will show the individual balances of all accounts held by its members at the date of default, 27 April 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 - their contact details are on the 'Information' tab.
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 parents or guardians.
Yes. The website www.findyourcreditunion.co.uk may help.
FSCS will send payment to the address that City of Plymouth Credit Union holds on its database.
If you did not let the credit union know of your change of address before it was declared in default, or you did notify it 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 by calling 01752 477410, 01752 201329, or 0113 244 5141 or e-mail cpcu@pkfgm.co.uk and supply the team with 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 a benefits entitlement letter, so long as they are less than three months old.
If you have already banked the cheque, you don't 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 01752 477410, 01752 201329, or 0113 244 5141 or e-mail cpcu@pkfgm.co.uk with evidence of the change of name. Once confirmed they'll instruct 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'll need to provide a council tax bill, a utility bill (not a mobile phone bill) or a benefits entitlement letter with your new name, dated less than three months old.