You don't need to do anything
Tullycarnet Credit Union Limited has failed.
On 14 November 2025, Tullycarnet Credit Union Ltd was placed into liquidation and stopped trading. The Financial Services Compensation Scheme declared the firm in default on 14 November 2025.
As a Tullycarnet 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.
Barry O’Donnell of HM Chartered Accountants, 6th Floor, East Tower, Lanyon Plaza, 8 Lanyon Place, Belfast BT1 3LP is the appointed liquidator. He will contact you by post with documents about the liquidation.
There are answers to commonly asked questions in the Q&A section below.
Download the Determination papers (pdf 0.1Mb) and Statement papers (pdf 0.1MB).
What do I need to do to get my money back and when will I receive it?
If you had an account with Tullycarnet Credit Union Limited, you don’t need to contact FSCS for your money to be returned to you.
We will send you a cheque to the address Tullycarnet Credit Union Limited held for you on its records.
You should receive payment in the post by Tuesday 25 November 2025.
My child has an account with Tullycarnet Credit Union Limited. What will happen to their savings?
Please don’t worry. Their money is safe and you don’t need to contact FSCS for it to be returned.
FSCS will send your child their payment via cheque to the address Tullycarnet Credit Union Limited held for them on its records. The cheque will be printed in your child’s name. If your child doesn’t have another bank account, you will need to set one up so that the cheque can be paid into their account.
How has FSCS calculated my payment? What should I do if I disagree with this amount?
The information FSCS has received from Tullycarnet Credit Union Limited confirms your individual balance. The amount you receive will be the balance of your account(s) prior to default.
If you disagree with the payment amount, you should still bank your cheque so that you can receive your funds.
You should then call the liquidator’s team on 028 9044 5100 or e-mail barry@hm-accountants.com. They will look into your query. Do not return your payment to FSCS unless you are specifically asked to do so.I had an account with Tullycarnet Credit Union Limited but I have not received a payment after seven working days, what should I do?
I have recently changed my name and/or address, what should I do?
FSCS will send you your payment via cheque to the address Tullycarnet Credit Union Limited held on its records for you. This will be sent to you by post in an unmarked envelope.
If the name or address held by Tullycarnet Credit Union Limited has changed and you didn’t update them before the date of default, or you updated them but didn’t receive confirmation that they’d updated their records before the date of default, FSCS will need to cancel and re-issue your payment using your current details.
Please contact the liquidator’s team by calling 028 9044 5100 or e-mail barry@hm-accountants.com with evidence of the change of name or address. Once confirmed, they will instruct FSCS to make payment to your current name and address.
I don’t have another bank account that I can direct my payment from FSCS into, what should I do?
You will need to open an account urgently with a bank, building society or credit union so that you can make your payment into this account and access your funds.
If you wish to open an account with a credit union and you’re based in Northern Ireland, you can get information about credit unions by checking the website for the Irish League of Credit Unions.
You can get information about credit unions in Britain from the Association of British Credit Unions Limited website or the ACE Credit Union Services website.
For information about credit unions in Scotland, you can check the Scottish League of Credit Unions website.
For help with a basic bank account, contact Advice NI on 0800 915 4604 or visit the Advice NI website. If you need face-to-face advice, you can contact your local Advice NI member. Advice NI members are spread across Northern Ireland. To find the one closest to you, please visit the Local Advice section of the Advice NI website.
You can find more information about basic bank accounts on the internet. One example is on the MoneyHelper website.
I have a loan with Tullycarnet Credit Union Limited. Will I have to repay it and should I cancel the standing order?
Do not cancel any repayments. Your loan agreement remains in place and you must make your repayments as originally contracted.
Future loan repayments will be managed by the liquidator, Barry O’Donnell of HM Chartered Accountants. He will contact you about this by post and will give you the necessary bank account details as soon as he can.
If you made payments covering both loans and savings, the liquidator’s team will advise you of the new amount you need to pay each month so that you do not fall into arrears.
For more information about your loan, please call the liquidator’s team on 028 9044 5100 or e-mail barry@hm-accountants.com.
I am the executor/next of kin of someone who has recently passed away and who held an account with Tullycarnet Credit Union Limited, what should I do?
If Tullycarnet Credit Union Limited wasn’t aware before the date of default that the late customer had passed away, FSCS may have sent payment to the late customer at the address held by Tullycarnet Credit Union Limited.
Please contact the liquidator’s team by calling 028 9044 5100 or e-mail barry@hm-accountants.com. The liquidator’s team will confirm what evidence they need from you, which will include the original death certificate.
Please send this evidence by post to the following address: Barry O’Donnell of HM Chartered Accountants, 6th Floor, East Tower, Lanyon Plaza, 8 Lanyon Place, Belfast BT1 3LP.
Once the team has all the required evidence, they will instruct FSCS to make payment to the people who are legally entitled to receive the funds.
How will I be able to find out what is happening?
If you have a question about compensation from FSCS, more information is available on our What we cover pages.
The liquidator is a data controller. A privacy notice statement, as required by the General Data Protection Regulation, is available at www.hm-accountants.com
If you want a hard copy of the privacy notice statement, please contact the liquidator’s team on 028 9044 5100 or e-mail barry@hm-accountants.com. Hard copies are available free of charge.
Scams warning
If you were a member of Tullycarnet Credit Union Limited, Barry O’Donnell of HM Chartered Accountants, or members of his team, may contact you if they need more information in order to issue your payment.
To give assurance that the contact is genuine, they will always follow appropriate security protocols. They will never ask you for money in order for you to receive your payment.
If you have any concerns about the contact you’ve received, we recommend you end the contact and call the liquidator’s team directly using the official number quoted above.