Gloucestershire Credit Union Ltd
Failed 14 September 2022
You don't need to do anything
Gloucestershire Credit Union Ltd has failed.
On 14 September 2022, Gloucestershire Credit Union Ltd was placed into administration and ceased trading. The Financial Services Compensation Scheme declared Gloucestershire Credit Union Ltd as failed (in default) on 14 September 2022.
James Sleight and Peter Hart of PKF Geoffrey Martin & Co Ltd (PKF GM) are the appointed Joint Administrators.
As a Gloucestershire 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 14 September 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.
FSCS will send the credit union members a cheque by post or courier in an unmarked envelope.
FSCS will receive information from Gloucestershire Credit Union Ltd that will detail your individual credit balance. Your payment will be the balance on your account on the date FSCS declared Gloucestershire Credit Union Ltd as failed, on 14 September 2022.
If you disagree with the amount paid by FSCS, please call the Administrators’ team on 01452 595 290, 01452 422 712 or 0113 244 5141, or e-mail firstname.lastname@example.org and they will look into your query. Do not return your payment to FSCS unless you are 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 (details below) or visit your local high street bank. Further information on Basic Bank Accounts can also be found on the Moneyhelper website.
Citizens Advice Bureau North & West Gloucestershire (covering (Cheltenham, Forest of Dean, Gloucester and Tewkesbury)
Address: Messenger House, 35 St. Michaels Square, Gloucester, GL1 1HX
The majority of the advice they provide is now by telephone and email.
Phone services: 01452 527 202 (Monday to Friday 10am to 4pm)
Where appropriate and in certain circumstances they will offer face-to-face advice at the locations listed on their website and in exceptional circumstances, home visits can be arranged.
Citizens Advice South Gloucestershire
Address: Kennedy Way, Yate, BS37 4DQ.
Call freephone number 0808 278 7947 for an appointment.
- Yate – Tuesday 10-3pm & Friday 10-1pm
- Thornbury – Tuesday 10-12pm,
- Bradley Stoke – Wednesday 10-12pm
- Stoke Gifford – 2nd and 4th Monday of every month 12.30-2.30pm
Phone services: Adviceline number is 0808 278 7947.
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 Gloucester
Address: 92 Westgate Street, Gloucester, GL1 2PE
Telephone number: 01452 396 396
- 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 - Also HMRC administered. You can change your bank account details online using the HMRC webpages at gov.uk or tel: 0300 200 3100. Alternatively, 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.
No. This service has now closed so you will no longer be able to view or manage your account(s) or request a withdrawal of funds.
Yes, your funds are safe and are not affected by the closure of the Credit Union.
If you hold a prepaid money card with Engage, any funds loaded onto it can continue to be used as normal.
For any questions about your prepaid Engage card, please contact them directly. Their contact details can be found on their website as follows:
No. FSCS will pay 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 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. But 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 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 contact you with the Administration bank account details as soon as they can.
If you made payments covering both loans and savings then the Administrators will be able to advise you of the new amount you need to pay each month so that you do not fall into arrears.
For further information about your loan, please call the Joint Administrators on 01452 595 290, 01452 422 712 or 0113 244 5141, or email email@example.com and they'll look into your query.
FSCS will receive information from Gloucestershire Credit Union Ltd that will show the individual balances of all accounts held by its members at the date of default, 14 September 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 Gloucestershire Credit Union Ltd held on its database.
If you didn't let the credit union know of your change of address before it failed, or you notified it of the change but didn't receive confirmation that its records had been updated before it failed, FSCS will need to see evidence of your change of address before we can make any compensation payment.
Please contact the Joint Administrators' team by calling on 01452 595 290, 01452 422 712 or 0113 244 5141, or email firstname.lastname@example.org and supply the team with evidence of the change of address. Once confirmed, they'll 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 3 months old.