Braniel Credit Union Ltd

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.

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 FSCS.

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 FSCS with evidence of the change of address and once confirmed we'll 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 FSCS with evidence of the change of name. Once confirmed we'll 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.