Solent Credit Union Ltd t/a Solent Community Bank
Failed 02 October 2019
You don't need to do anything
The administration of Solent Credit Union Ltd has ended and the Administrators have ceased to act.
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 email@example.com 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.
Commonly asked questions
If you've already received your cash over the counter, or banked the cheque payment, you don't need to take any further action. If you have not received your payment or are unable to bank the cheque provided in the name it's been sent in, we will need to see evidence of your name change before any payment can be made.
You will need to provide original documentation or 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 the Administrators with evidence of the change of name and once confirmed they will instruct us to make payment in the new name.
Documents that can be used as evidence include marriage certificate or a deed poll. Additionally, you will need to provide a council tax bill, or a utility bill (not a mobile phone bill) or benefits entitlement letter with your new name, so long as they are less than three months old.
If the estate has already received cash over the counter, or banked the cheque payment, you don't need to take any further action.
If the estate has not received the payment, you'll need to send us the original Death Certificate, Grant of Probate and a copy of the Will or letter of administration. These should be original documents. These documents are required before we can make a payment.
Alternatively, you can send these documents to the administrators by post to Solent Credit Union Limited c/o PKF Geoffrey Martin & Co Limited, 3rd Floor, One Park Row, Leeds, LS1 5HN, or via email at firstname.lastname@example.org.
The administrators will then contact us to enable the compensation payment to be made.
If you wish to contact FSCS regarding any issues, please call us on 0800 678 1100 (freephone) or 020 7741 4100. Lines are open Monday to Friday from 08.30 to 18.00.