Solent Credit Union Ltd t/a Solent Community Bank

Failed 02 October 2019

FRN: 213753

You don't need to do anything

Solent Credit Union Ltd has failed.

As a Solent Credit Union (Solent Community Bank) 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.

In most cases, FSCS aims to make a payment within seven days of the default date, on 2 October 2019. For more complex cases, which may need further investigation, we'll aim to settle claims within 15 working days of being notified.

If you have a balance below £1,000, you'll receive a letter enabling you to get cash over the counter at the Post Office. To get your money, take the letter to any Post Office counter, with personal identification as outlined in the letter.

If you've a balance over £1,000, we'll send you a cheque. Whichever method applies to you, we'll contact you by post in an unmarked envelope. 

The Solent Credit Union Ltd will send us the details your individual credit balance. The amount you receive will be the balance on your account at the date we declared the credit union in default, on 2 October 2019.

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 023 8000 2018, 023 8098 7644 or 0113 244 5141. Alternatively, email 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 can download the determination papers here.

PFK Geoffrey Martin & Co Ltd

Contact the administrators via the details below.

Commonly asked questions