James Sleight and Peter Hart of PKF GM have been appointed as Joint Administrators of 6 Towns Credit Union, whose membership extended to residents and employees who live or work in the credit union’s common bond areas of Sandwell, Worcestershire and South Birmingham.
The Financial Services Compensation Scheme (FSCS) has also declared the Credit Union in default, which means that savers are entitled to receive their deposits back.
James Sleight, the Joint Administrator, said: “6 Towns Credit Union members don’t need to worry as all of their money is safe – all of their deposits will be returned to them by the FSCS.
“If you have savings at the Credit Union, you don’t need to do anything to get your money back. Anyone with a deposit with 6 Towns Credit Union should look out for a cash over the counter payment (if below £250) or a cheque (if over £250) in the post from the FSCS in the next few days.
“We’ll also be in touch with anyone who has a loan from the Credit Union to explain what happens next.
“We’ll be available by email or phone to assist members with any queries that they may have on issues such as loan repayments or setting up new accounts for benefits payments.”
Please contact the Joint Administrators’ team in the first instance on 0121 369 1410 and 0121 553 3110 or alternatively contact the Joint Administrators’ office on 0113 244 5141; or email 6TCU@pkfgm.co.uk
Members should be aware that where contact details are missing for members who still have money in their 6TCU accounts, the FSCS will not be able to issue cheques to these members immediately. If members have not updated any recent change of address with 6TCU, they are advised to make contact with the Joint Administrators’ team as soon as possible.
If you have an account with 6 Towns Credit Union Limited but have not received a payment from the FSCS within 7 days of 5 September 2023, please contact the Administrators’ team directly on: 0121 369 1410 or 0121 553 3110, or alternatively call 0113 244 5141 or e-mail 6TCU@pkfgm.co.uk