You don't need to do anything
On 10 June 2019, Braniel Credit Union Ltd was placed into liquidation and ceased trading. Joan Rice of Harbinson Mulholland has been appointed as liquidator.
The Financial Services Compensation Scheme declared Braniel Credit Union Limited in default on 10 June 2019.
You can download the determination papers using this link.
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12 Jun, 2019
Cheques have been issued and are in the post. If you think you're due compensation and have not received a cheque within 10 working days from 12 June, contact the liquidator, Joan Rice on 028 90445100, or e-mail info@harbinson-mulholland.com.
As a Braniel customer you don't need to worry as your money is safe. FSCS will automatically pay back your money, according to the account information it receives from Braniel Credit Union Limited. We'll contact you by post.
In most cases, FSCS aims to make payment within seven days from the date of default, on 10 June 2019. For more complex cases, which may require further investigation, we'll aim to settle claims within 15 working days of being notified of the issue.
If you've a balance below £1,000, you'll get a letter enabling you to get cash over the counter at the Post Office. To receive payment, take the letter to any Post Office counter, with personal identification, as outlined in that letter.
If you've a balance over £1,000, you'll receive a cheque. Whichever method applies to you, we'll contact you by post in an unmarked envelope.
FSCS will receive information from Braniel Credit Union Limited that will detail your individual credit balance. The amount of payment you receive will be the balance on your account as at the date FSCS declared Braniel Credit Union Limited in default, on 10 June 2019.
If you disagree with the amount paid by FSCS, please contact the liquidator at Harbinson Mulholland on 028 90445100 or email info@harbinson-mulholland.com and she'll look into your query. Do not return your payment to FSCS unless you're specifically requested to do so.
You'll need to open a bank account with another deposit taker (e.g. a bank, building society or the Post Office). You should bank the cheque as soon as possible.
If your salary or benefits are paid into your account at Braniel Credit Union Ltd, you'll need to open a new account elsewhere – and tell your employer or the Department for Work and Pensions.
Harbinson Mulholland
If you've any further questions, contact the liquidator, Joan Rice, at Harbinson Mulholland on the number below or email info@harbinson-mulholland.com and she'll look into your query.
Commonly asked questions
Some people may need the money and don't have another bank account that they can pay a cheque into. The “cash over the counter” option is flexible and allows people to have access to their money much more quickly than a cheque for a small balance.
FSCS is not in a position to make electronic money transfers to other banks. We make payments either by cheque or by cash over the counter.
If this payment 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 liquidator, Joan Rice of Harbinson Mulholland, who will contact you about this. If you previously paid your loan in person, that option will no longer be available as the credit union will not be open. You'll have to make arrangements to make your loan repayments by bank transfer or by calling in to your nearest Danske bank branch. If this is going to create problems for you, please contact the liquidator and her staff. Do not let your loan account fall into arrears.
If you made payments covering both loans and savings, the liquidator will be able to advise you of the net payment needed each month in respect of your loan so that you do not fall into arrears.
For further information about your loan, please contact the liquidator.
Braniel Credit Union is no longer accepting loan repayments through the service points. If you've previously paid your loan through a service point, please contact the liquidator to discuss arrangements for the repayment of your loan by alternative means.
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 at the date of default, 10 June 2019. Any amounts paid into the account after that date won't be added to your savings balance and will be dealt with by the liquidator.
FSCS will send payment to the address that Braniel Credit Union Ltd held on its database.
If you didn't notify Braniel Credit Union Ltd of your change of address before it was declared in default, or you notified it but didn't receive confirmation that the records had been updated before it was declared in default, FSCS will need to see evidence of the change of address before any compensation payment can be made.
Please contact the liquidator with evidence of the change of address and once confirmed they'll instruct FSCS 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 received your cash over the counter, or 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 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 liquidator with evidence of the change of name. Once confirmed they'll instruct FSCS to make payment in the new name. Documents that can be used as evidence include 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 benefits entitlement letter with your new name, as long as they're 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 hasn't received the payment, you'll need to send FSCS the original death certificate, grant of probate and a copy of the will or letter of administration.
These should be original documents and are required before FSCS can make a payment. However, should you wish to contact FSCS regarding any issues, please call freephone 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday from 08.30 to 17.30.
Alternatively, you can send these documents to the liquidator by email to info@harbinson-mulholland.com; or by post to Braniel Credit Union Limited c/o Harbinson Mulholland, Centrepoint, 24 Ormeau Avenue, Belfast, BT2 8HS. The liquidator will then contact FSCS to enable the compensation payment to be made.