Pioneer Mutual Credit Union Ltd
Failed 03 March 2021
You don't need to do anything
Pioneer Mutual Credit Union Ltd, in Barrhead, Glasgow, has failed.
As a Pioneer Mutual 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.
There are more details below, and answers to commonly asked questions on the Q&A tab.
11/3/21 - We have resolved the issue for the small proportion of affected members who could not cash their payments. New cheques were re-issued via first class post yesterday.
9/3/21 - We’re aware that a small number of Pioneer Mutual’s members have had problems cashing their cheques – our payments team are currently investigating.
Determination papers (pdf 0.1MB)
In most cases, FSCS aims to make a payment within seven days of the default date, on 3 March 2021. For more complex cases, which may need further investigation, we'll aim to settle claims within 10 working days of being notified.
Pioneer Mutual Credit Union Ltd will send us the details of your individual credit balance. We will send you a cheque in an unmarked envelope.
The amount you receive will be the balance on your account at the date we declared the credit union in default, on 3 March 2021.
If you disagree with the amount paid by FSCS, please contact the administrators, Dina Devalia and James Sleight of PKF Geoffrey Martin & Co Ltd on 0141 432 1250 or 0141 881 1353 or alternatively on 0113 244 5141. Alternatively, email firstname.lastname@example.org and they'll look into your query.
Do not return your payment to us 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 will need to open a bank account with another deposit taker (e.g. a bank, a credit union, building society or the Post Office) so that you can bank the cheque as soon as possible.
If your salary or benefits are paid into your account at Pioneer Mutual Credit Union Ltd, you will need to open a new account elsewhere. You must also tell your employer or the Department for Work and Pensions.
See the 'I've heard that my Pioneer Credit Union savings account will no longer operate. What should I do? question below for important contact details for benefit matters.
No. FSCS will pay your compensation by sending you a cheque in an unmarked envelope.
Pioneer Mutual Credit Union Ltd saving accounts will no longer operate. If your salary or benefits are paid into your savings account you will need to open a new bank account as soon as possible.
You should contact your employer, pension provider or the Department for Work and Pensions (DWP) to tell them to pay your salary or benefits into your new account.
If direct debits or standing orders are paid into your Pioneer Mutual Credit Union Ltd saving account, you will need to arrange for these payments to be paid into your new account. You should cancel any existing arrangements that direct these payments to your Pioneer Mutual Credit Union Ltd savings account.
If you receive any of the following benefits (below) you will need to provide details of an alternative bank or building society to enable future DWP payments to be made.
- Jobseeker’s Allowance
- Income Support
- Employment and Support Allowance
- Universal Credit
- Personal Independence Payment
- Disability Living Allowance
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 (Live Service) - 0800 328 9344
- Universal Credit (Full Service – e.g. online account) – 0800 328 5644
- 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 (local to Pioneer Mutual Credit Union Ltd)
Phone: 0141 577 3000 or 0141 577 3001
Housing Benefit phone number: 0141 577 3002
- Working Tax/Child Tax Credits. This is HM Revenue & Customs administered benefit. To change bank account details, you will need to contact HMRC on 0345 300 3900 (ideal route) or write to CAST (BC), WP1012, TCO, Waterview Park, Mandarin Way, Washington, Tyne & Wear NE38 8QG
- Child Benefit. This is HMRC administered also. To change your bank account details, you can do this online using the HMRC webpages from www.gov.uk or telephone 0300 2003100. Alternatively, you can write to HMRC at HM Revenue & Customs, Child Benefit Office, PO Box 1, Newcastle Upon Tyne NE88 1AA
If you need help in contacting these agencies then your local Citizens Advice Bureau should be able to help.
If you need help in opening a Basic Bank Account, then again, your local Citizens Advice Bureau should be able to help. Alternatively, please visit your local high street bank. Below are the details of a Citizens Advice Bureau near the offices of Pioneer Mutual Credit Union Ltd.
Details for the Citizens Advice Bureaux in East Renfrewshire:
216 Main Street, Barrhead G78 1SN
Telephone: 0141 881 2032
The website explains that the team at East Renfrewshire Citizens Advice Bureau is now working from home. It lists the phone number that you need to call for the service you require. Please visit the above website for the list of phone numbers.
Further information on Basic Bank Accounts can be found at Money Saving Expert.
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 adult’s address, if that has been registered with the credit union, but the payment will be issued 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.
If you are the holder of a Child Trust Fund account, the process for FSCS to reimburse your savings is different to that for other account holders.
Payment can only be made to an alternative Junior ISA provider rather than returned directly to the account holder. The administrators will shortly be writing to the registered holders of Child Trust Fund accounts with Pioneer Mutual Credit Union Ltd with further information.
If the standing order relates solely 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.
However, 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.
Do not cancel any repayments, as your loan agreement remains in place and you must maintain your repayments as originally contracted.
Future loan repayments will be managed by the administrator who will contact you. If you previously paid your loan in person, that option will no longer be available as the credit union is closed. You'll have to make arrangements to make your loan repayments by bank transfer or by calling into your nearest bank branch. If this is going to be difficult, please contact the administrator. Do not let your loan account fall into arrears.
If you made payments covering both loans and savings, the administrator will be able to advise you of the net payment needed each month to stop you from falling into arrears.
For further information about your loan, please call the administrators on 0141 432 1250, 0141 881 1353 or 0113 244 5141; or email email@example.com and they will look into your query.
Pioneer Mutual Credit Union Ltd is no longer accepting loan repayments through the service points. If you have previously paid your loan through a service point, please contact the administrators’ team on the numbers above.
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 on 3 March 2021.
Any amounts paid into the account after 3 March 2021 will not be added to your savings balance and will be dealt separately with by the administrators. Contact them 0141 432 1250 or 0141 881 1353 or alternatively on 0113 244 5141; or email firstname.lastname@example.org and they'll look into your query.
FSCS will send payment to the address that the credit union held on its database.
If you didn't notify the credit union 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 failed, we will need to see evidence of the change of address before any compensation payment can be made.
Please contact the administrators with evidence of the change of address. Contact them on on 0141 432 1250 or0141 881 1353 or alternatively on 0113 244 5141; or e-mail email@example.com Once confirmed, FSCS will be instructed 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, as long as they are less than three months old.
If you've already 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 name change – for example, a marriage certificate or deed poll – and this will allow us to update our records and process the claim.
Please contact the administrators’ team on 0141 432 1250, 0141 881 1353 or 0113 244 5141; or email firstname.lastname@example.org with evidence of the change of name. Once confirmed they will instruct FSCS to 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 a benefits entitlement letter with your new name, as long as they're less than three months old.