East London Credit Union Ltd - trading as Waltham Forest Community Credit Union

Failed 11 Sept 2019

FRN: 224176

You don't need to do anything

East London Credit Union Ltd has failed.

As an East London Credit Union (Waltham Forest Community 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.

In most cases, FSCS aims to make payment within seven days from the date of default, on 11 September 2019. For more complex cases, which may need further investigation, we'll aim to settle claims within 15 working days of being notified.

If you have a balance below £1,000, you'll receive a letter enabling you to get cash over the counter at the Post Office. To receive payment, take the letter to any Post Office counter, with personal identification as outlined in the letter.

If you've a balance over £1,000, you'll receive a cheque. Whichever method applies to you, we'll contact you by post in an unmarked envelope. 

FSCS will receive information from East London Credit Union Ltd that will detail your individual credit balance. The amount of payment you receive will be the balance on your account at the date FSCS declared the credit union in default, on 11 September 2019.

If you disagree with the amount paid by FSCS, please contact the administrator Stephen Cork at Cork Gully LLP on 0333 210 1548 or email ELCU@corkgully.com and he'll look into your query. Do not return your payment to FSCS 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. 

You can download the determination papers here (pdf 1.1MB).

Cork Gully LLP

Contact the administrator, Cork Gully LLP via the details below.

Commonly asked questions