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The administration of Loans and Savings Abertawe Credit Union Ltd has ended and the Administrators have ceased to act.
Any queries about your account should be directed to FSCS on 0800 678 1100/ 0207 741 4100 or e-mail enquiries@fscs.org.uk
The Financial Services Compensation Scheme has announced the failure of Loans and Savings Abertawe Credit Union Ltd, based in Wales, which was declared in default on 29 August 2018. The credit union also traded under the names Hill Community Credit Union Ltd and My Community Bank Wales. This means the credit union cannot repay money to its 3128 members.
FSCS is stepping in to protect customers and return money to the vast majority of members within its seven day target. Using the credit union’s records, FSCS expects to make payments totalling over £498,064.71 to nearly all 3128 customers in less than 48 hours of the failure being declared.