FSCS steps in to protect 258 members of failed Tullycarnet Credit Union Limited
The Financial Services Compensation Scheme (FSCS) has stepped in to protect the members of Tullycarnet Credit Union Limited which has stopped trading and is now in default.
FSCS will compensate most of the 258 members within seven working days. FSCS expects the total compensation for the credit union to be just over £81,000.
FSCS is working closely with Tullycarnet Credit Union Limited to ensure all eligible members receive their money as quickly as possible. However, it may take longer to issue payments where customer contact information is missing or incomplete.
Anyone who believes they still have money in an account with the credit union but has not received a compensation cheque from FSCS by 25 November 2025 should contact Barry O’Donnell of HM Chartered Accountants.
Matthew Phillips, Head of Deposits at FSCS said: “Members of Tullycarnet Credit Union Limited can be reassured that their money is protected and FSCS is committed to helping members recover their funds quickly.
“Most members will automatically receive a cheque from FSCS within seven days and do not need to take any action.”
A dedicated page on the FSCS website includes questions and answers, which may be useful for members of Tullycarnet Credit Union Limited.
For more information on how FSCS protects money in current or savings accounts with credit unions, banks and building societies, please visit the FSCS website and our ‘What we cover’ page.
For any further questions about Tullycarnet Credit Union Limited contact the liquidator Barry O’Donnell, HM Chartered Accountants, 6th Floor, East Tower, Lanyon Plaza, 8 Lanyon Place, Belfast BT1 3LP, or telephone on 028 90445100, alternatively e-mail barry@hm-accountants.com.
Contact information
Maria Goodall
maria.goodall@fscs.org.uk
Notes to editors
Media enquiries:
Email: publicrelations@fscs.org.uk
Phone: 0207 375 8477
FSCS will compensate most of the 258 members within seven working days. FSCS expects the total compensation for the credit union to be just over £81,000.
FSCS is working closely with Tullycarnet Credit Union Limited to ensure all eligible members receive their money as quickly as possible. However, it may take longer to issue payments where customer contact information is missing or incomplete.
Anyone who believes they still have money in an account with the credit union but has not received a compensation cheque from FSCS by 25 November 2025 should contact Barry O’Donnell of HM Chartered Accountants.
Matthew Phillips, Head of Deposits at FSCS said: “Members of Tullycarnet Credit Union Limited can be reassured that their money is protected and FSCS is committed to helping members recover their funds quickly.
“Most members will automatically receive a cheque from FSCS within seven days and do not need to take any action.”
A dedicated page on the FSCS website includes questions and answers, which may be useful for members of Tullycarnet Credit Union Limited.
For more information on how FSCS protects money in current or savings accounts with credit unions, banks and building societies, please visit the FSCS website and our ‘What we cover’ page.
For any further questions about Tullycarnet Credit Union Limited contact the liquidator Barry O’Donnell, HM Chartered Accountants, 6th Floor, East Tower, Lanyon Plaza, 8 Lanyon Place, Belfast BT1 3LP, or telephone on 028 90445100, alternatively e-mail barry@hm-accountants.com.
Contact information
Maria Goodall
maria.goodall@fscs.org.uk
Notes to editors
Media enquiries:
Email: publicrelations@fscs.org.uk
Phone: 0207 375 8477