North Airdrie Credit Union Ltd

Failed 16 December 2019

FRN: 213664

You don't need to do anything

The administration of North Airdrie 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.

On 16 December 2019, North Airdrie Credit Union Ltd was placed into administration and ceased trading.

FSCS declared North Airdrie Credit Union Ltd had failed on 16 December 2019.

If you're a North Airdrie 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 North Airdrie Credit Union Ltd. We'll contact you by post.

On the 'Information' tab you'll find details of how we'll return your money. On the 'Q&A' tab, you'll find answers to commonly asked questions regarding the failure. You can read more about our compensation limits for credit unions on our dedicated page.

Download the determination papers (pdf).

Commonly asked questions

Some people may need the money and do not have another bank account that they can pay a cheque into. The 'cash over the counter' option is very flexible and allows people to have access to their money much more quickly than a cheque for a small balance. 

FSCS is not in a position to make electronic money transfers to other banks. We make payments either by cheque or by cash over the counter.

If this payment relates only to savings, you should cancel it as no further money will be credited to your 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 also relates to loan repayments, do not cancel it.

For junior members, FSCS will send a payment in the name of the account holder for the balance of their account at the date the credit union failed.

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.

Note that the payment will be issued in the child’s name and a new account in that name will need to be opened with an alternative provider.

We cannot pay to parents or guardians, only the name of the account holder.

Do not cancel any repayments, as your loan agreement remains in place and you must maintain your repayments as originally contracted.

The credit union is also no longer accepting loan repayments through the service points. If you have previously paid your loan through a service point, please contact FSCS.

If this is going to create problems, please contact the Joint Administrators. Do not let your loan account fall into arrears.   

For further information about your loan, please contact FSCS.

Yes. The website www.findyourcreditunion.co.uk will help in choosing from the available options.

FSCS will receive information from the credit union that will detail the individual credit balances of all accounts held by its members at the date it failed, 16 December 2019. 

Any amounts paid into the account after that date won't be added to your savings balance. Contact FSCS in the event of any issues.

FSCS will send payment to the address that the credit union held on its database. 

If you didn't notify North Airdrie Credit Union Ltd of your change of address before it failed, or you notified it but didn't receive confirmation that the 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 FSCS with evidence of your change of address, and once confirmed we'll 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, as long as they're less than three months old.

If you've already received banked the cheque payment, you do not need to take any further action.

If you have not received your payment or are unable to bank the cheque in the name it was sent in, we'll need to see evidence of your name change before any payment can be made.

You'll need to provide the original documentation or a certified copy of an official document showing your change of name – for example, a marriage certificate or deed poll – and this will allow us to update our records and process the claim.

Please contact FSCS with evidence of your change of name. Once confirmed we'll make payment in the new name.

Documents that can be used as evidence include a marriage certificate or a deed poll. Additionally, you'll need to provide a council tax bill, or a utility bill (not a mobile phone bill) or benefits entitlement letter with your new name, and they must be less than three months old.

If the estate has already banked the cheque payment, you don't need to take any further action. If the estate hasn't received the payment, you'll need to send FSCS the original death certificate, grant of probate and a copy of the will or letter of administration. 

These should be original documents and are required before FSCS can make a payment. However, should you wish to contact FSCS regarding any issues, please call freephone 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday from 08.30 to 17.30.  

About FSCS

If the financial firm you've used has failed and can't pay your claim, we can step in to pay compensation.

We’re independent and free to use - claim through us and you'll keep 100% of your compensation. Find out more about us.

Getting in touch

Contact us on the number below, or via any of the methods on our Contact us page.
Phone contact icon 0800 678 1100