Faifley Credit Union Ltd

Failed 23 November 2020

FRN: 213834

You don't need to do anything

Faifley Credit Union Ltd Ltd has failed.

On 23 November, Faifley Credit Union Ltd was placed into liquidation and ceased trading. Financial Services Compensation Scheme declared Faifley Credit Union Ltd failed on 23 November.

Download the determination papers.

As a Faifley 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 information we receive from Faifley Credit Union. We'll contact you by post.

In most cases, FSCS aims to make payment within seven days from the date it failed, on 23 November 2020. For more complex cases, which may require further investigation, we'll aim to settle claims within 15 working days of being notified of the issue.

All members will receive a cheque sent by post in an unmarked envelope. 

FSCS will receive information from Faifley Credit Union Ltd that will detail your individual credit balance. The amount of payment you receive will be the balance on your account as at the date FSCS declared Faifley Credit Union Ltd failed, on 23 November 2020. 

If you disagree with the amount paid by FSCS, please contact the administrator's team on 0141 432 1128, 0113 244 5141 or via email faifleycu@geoffreymartin.co.uk and they'll look into your query. Do not return your payment to FSCS unless you're specifically requested 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 your salary or benefits are paid into your account at Faifley Credit Union, you'll need to open a new account elsewhere – and tell your employer or the Department for Work and Pensions. 

If you need help in opening a basic bank account, your local Citizens Advice Bureau should be able to assist. Alternatively, please contact your local high street bank. Please see below details of two Citizens Advice Bureaus local to your area.

Clydebank Office Citizens Advice Bureau
Social Economy Centre
63 Kilbowie Road
Clydebank G81 1BL

Freephone 0800 484 0136 (Mon -Thu 8:30am – 4:30pm, Fri 8:30am – 3pm) or Telephone: 0141 435 7590

Website: http://www.wdcab.co.uk/

Dumbarton Office Citizens Advice Bureau
Bridgend House
179 High Street
Dumbarton G82 1NW

Freephone 0800 484 0136 (Mon -Thu 8:30am – 4:30pm, Fri 8:30am – 3pm) or Telephone: 01389 744690

Website: http://www.wdcab.co.uk/

Opening hours
Due to Covid19 both the Clydebank and Dumbarton Offices are not currently operating a drop-in service and entry is by appointment only.

But they are still contactable. You can call to speak with an adviser using the above phone numbers, send them a message using their online contact form: http://www.wdcab.co.uk/contact-us/, use their Facebook page https://www.facebook.com/WDCAB or you can use their LiveChat service.

Further information on basic bank accounts can be found online. One such example is at www.moneysavingexpert.com/banking/basic-bank-accounts.

PKF Geoffrey Martin & Co Ltd

If you've any issues or queries regarding the failure of the credit union, contact the administrators Dina Devalia and James Sleight on the number below, or email them at faifleycu@geoffreymartin.co.uk