You don't need to do anything
6 Towns Credit Union Ltd has failed. As a 6 Towns Credit Union Ltd customer, you don't need to worry, as your money is safe.
On 5 September 2023, 6 Towns Credit Union Ltd was placed into administration and ceased trading. FSCS declared 6 Towns Credit Union Ltd in default on 5 September 2023.
FSCS will automatically pay back your money, according to the account details we receive from the credit union. We'll contact you by post.
Please note that there is no public or member access at the address of Room 8, Greets Green Community Enterprise, 157 Wood Lane, West Bromwich, West Midlands, B70 9PT.
6 Towns Credit Union Ltd has a temporary office within Oldbury Council House at Freeth Street, Oldbury, B69 3DB. The Administration team will be there for approximately four weeks from the date of the failure.
Additional drop-in locations are available for limited hours at:
- Glebefields Library, St Mark’s Road, Glebefields Estate, Tipton, DY4 0SZ
- Wednesbury Community Hub, Union Street, Wednesbury, WS10 7HD.
For opening hours please visit 6 Towns Credit Union Ltd’s website at sixtowns.co.uk for full details.
Questions and answers
6 Towns Credit Union Limited – what has happened to it and is my money safe?
You do not need to worry as your money is safe.
On 5 September 2023, 6 Towns Credit Union Limited was placed into Administration and has now stopped trading. James Sleight and Peter Hart of PKF Geoffrey Martin & Co Limited (“PKF GM”) are the appointed Joint Administrators.
The Joint Administrators will contact you by post with documents about the Administration for your information only, you do not need to do anything.
The Financial Services Compensation Scheme (FSCS) declared 6 Towns Credit Union Limited in default on 5 September 2023 which means it can step in and return money to members.
If you have an account with 6 Towns Credit Union Limited but have not received a payment from FSCS within 10 working days, 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.
What is the Financial Services Compensation Scheme (FSCS)?
FSCS is a free service that protects the customers of authorised financial services firms, such as 6 Towns Credit Union Ltd. This means FSCS protects any savings you have with this credit union up to £85,000 per person.
What do I need to do to get my money back?
You do not need to do anything. FSCS will automatically pay you back your savings using the account information it receives from 6 Towns Credit Union Ltd. FSCS will contact you by post.
How soon will I get my money back?
In most cases, FSCS aims to make payment within seven days from 5 September 2023, the date 6 Towns Credit Union Ltd was declared in default. For more complex cases, which may need further investigation, FSCS will aim to return members’ money within 10 working days.
How will FSCS pay me back my money?
If you have a balance below £250, you will get a letter 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 the letter. If you have a balance over £250, you will receive a cheque. In both events, we will contact you by post in an unmarked envelope.
How will FSCS calculate how much payment I am entitled to?
FSCS will receive information from 6 Towns Credit Union Ltd that will detail your individual balance. The amount you receive will be the balance on your account on 5 September 2023.
I have an account with 6 Towns Credit Union Limited but I have not received a payment from FSCS – what should I do?
Please contact the Joint Administrators’ team directly on: 0121 369 1410 or 0121 553 3110, or alternatively call 0113 244 5141 or e-mail 6TCU@pkfgm.co.uk.
What should I do if I disagree with the amount FSCS has paid me and I have not banked the cheque or received cash over the counter at the Post Office?
If you disagree with the amount paid by FSCS, please call the Joint Administrators’ team first on 0121 369 1410 or 0121 553 3110, or alternatively call 0113 244 5141 or e-mail 6TCU@pkfgm.co.uk and they will look into your query.
Do not return your payment to FSCS unless you are specifically asked to do so.
I do not have another bank account. What should I do with my cheque?
You will need to open a bank account with another provider (e.g. a bank, a credit union, or building society) so that you can bank the cheque as soon as possible.
If you need help opening a basic bank account, your local Citizens Advice Bureau should be able to help you. Alternatively, please visit your local high street bank or building society.
Further information on basic bank accounts can be found on the MoneyHelper website.
Search for your local Citizens Advice Bureau.
This is a list of list of Citizens Advice offices in the Credit Union’s bond area, with postal addresses, email contact addresses and telephone numbers.
Some local Citizens Advice Bureaus can only give you advice if you live in their local council area. It’s usually best to contact a Citizens Advice Bureau based in your local council area.
The nearest Citizens Advice Bureau to the Credit Union’s main office is Sandwell & Walsall (Oldbury) and its details are as follows:
Address: Municipal Buildings Halesowen Street, Oldbury, West Midlands, B69 2AB
Email: swan@citizensadvicesandwell-walsall.org
Opening hours
The Citizens Advice Sandwell & Walsall website contains a full list of local office opening times. These can be found here: https://citizensadvicesandwell-walsall.org/local-offices/. The Oldbury office has the following Advice session times:
- Monday - 09:00 -15:30
- Tuesday - Pre-booked appointments only
- Wednesday - 09:00 -15:30
- Thursday - Closed
- Friday - 09:00 - 15.30
Telephone services
You can contact the Citizens Advice Sandwell & Walsall Advice Line by telephone on 0808 278 7812 and speak to an adviser. The Advice Line is open during the following times:
- Mon - 09:00-15:30
- Tues - 09:00-19:00
- Wed - 09:00-12:30
- Thurs - 09:00-15:30
- Fri - 09:00-15:30
For Debt Advice the telephone number is 0121 726 6745.
The Webchat service is also available via its website.
Why doesn’t FSCS pay all members of 6 Towns Credit Union Ltd by cheque?
Some people may need the money and do not have another bank account that they can pay a cheque into. The “cash over the counter” option is flexible and can give people access to their money faster than a cheque for a small balance.
Can FSCS make a payment directly to my account with another bank?
No. FSCS will pay you your compensation by sending you a cheque in an unmarked envelope or by sending you a letter to get cash over the counter at the Post Office.
I hold a prepaid money card with Engage. Are the funds I have loaded onto this safe?
Yes, your funds are safe and are not affected by the closure of the credit union.
If you hold a prepaid money card with Engage, any funds loaded onto it can continue to be used as normal.
For any questions about your prepaid Engage card, please contact Engage directly. Its contact details can be found on its website. Or, contact Engage via email.
My salary and benefits are paid into my 6 Towns Credit Union Ltd savings account. What should I do?
6 Towns Credit Union Ltd savings accounts will be closed. If your salary or benefits are paid into your savings account, you will need to open a new bank account as soon as possible. You should contact your employer, pension provider or the Department for Work and Pensions (DWP) to tell them to pay your salary or benefits into your new account.
If you are in receipt of any of the following benefits:
- Jobseeker’s Allowance
- Income Support
- Employment and Support Allowance
- Universal Credit
- Personal Independence Payment
- Disability Living Allowance
- Attendance Allowance
- Carer’s Allowance
- Pension Credit
- State Pension
- Child Tax Credits
- Working Tax Credits and
- Child Benefit
some useful contact details are as follows:
- You can contact your local JobCentre Plus, or telephone the DWP on the following Freephone numbers:
- Employment Support Allowance (ESA) – 0800 169 0310
- Income Support (IS) – 0800 169 0310
- Jobseeker’s Allowance (JSA) – 0800 169 0310
- Universal Credit – you can contact Universal Credit by calling the Universal Credit Helpline on: 0800 328 5644 or through your online account. Further information can be found on its website.
- Personal Independence Payment (PIP) – 0800 121 4433
- Disability Living Allowance (DLA) – 0800 121 4600
This is a a list of JobCentre Plus offices in the Credit Union’s bond area, with postal addresses, email contact addresses and telephone numbers.
All customers will need to provide details of an alternative bank or building society to enable future DWP payments to be made.
To have your benefit payments paid into an alternative bank, building society or local credit union account you will need to contact the following agencies with your new bank details:
- Housing Benefit – Details of the local Council: Sandwell Metropolitan Borough Council.
Sandwell Metropolitan Borough Council has said on its website that the easiest way to find information and to get in touch with them is from its website. This is the ‘Contact the benefits team’ webpage.
Information relating to Housing Benefit can be found on the council’s Housing benefits webpage.
Other ways to contact the benefits team include:
Writing to them at the following address: Sandwell MBC (Benefits), PO Box 10597, Nottingham, NG6 6DQ.
Calling them on: 0121 368 1155 (they’re open 8.45am to 5pm Monday, Tuesday, Thursday and Friday, and 9am to 5pm on Wednesdays. The website says you might find it easiest to get through to them between 10am and 2pm every day.)
- Working Tax/Child Tax Credits - This is an HM Revenue & Customs (HMRC) administered benefit. To change your bank account details, you will need to contact HMRC on 0345 300 3900.
- Child Benefit - This is also HMRC administered. You can change your bank account details online using the HMRC webpages at gov.uk or telephone 0300 200 3100. Alternatively, you can write to HMRC at: HM Revenue & Customs - Child Benefit Office, PO Box 1, Newcastle Upon Tyne NE88 1AA.
If you need help contacting these agencies, your local Citizens Advice Bureau should be able to help you. Contact them using the details provided above.
It is crucial that you make arrangements with your employer, pension provider or the Department for Work and Pensions (DWP) to tell them to pay your salary or benefits into your alternative account as 6 Towns Credit Union Ltd’s bank accounts will be closed very soon by the banks and any money will be automatically returned to the party trying to make the payment.
My child has a savings account with 6 Towns Credit Union Limited. What will happen to their savings?
For junior members, FSCS will send a payment in the name of the account holder for the money in their account at 5 September 2023.
If the account is operated by an adult on behalf of the child, the cheque will be sent to the account operator’s address, if that has been registered with the credit union, but the payment will be in the child’s name.
A new account in that name will need to be opened with an alternative provider. We cannot make the payments to parents or guardians.
I make regular payments to my account each month by direct debit or standing order. Should I cancel the direct debit or standing order now?
If this payment is just for savings, you should cancel it as no further money will be added to your savings account. You will need to arrange for these payments to be paid into a new or different account and should cancel any existing payments to your 6 Towns Credit Union Ltd savings 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 will need to give your bank or building society a couple of days’ notice before the payment is due to come out of your account. If your standing order is also for loan repayments, do not cancel it and please see the 'Loan repayments' question below.
I had a loan with 6 Towns Credit Union Ltd. Will I have to repay it, and should I cancel the standing order?
Do not cancel any repayments as your loan agreement remains in place and you must make your repayments as originally contracted.
Future loan repayments will be managed by the Joint Administrators James Sleight and Peter Hart of PKF GM, who will contact you by post about this and provide you with the Administration bank account details as soon as they can.
If you made payments covering both loans and savings the Joint Administrators’ team will be able to advise you of the new amount you need to pay each month for your loan so that you do not fall into arrears.
For further information about your loan, please call the Joint Administrators’ team on 0121 369 1410 or 0121 553 3110, or alternatively call 0113 244 5141 or e-mail 6TCU@pkfgm.co.uk and they will look into your query.
6 Towns Credit Union Limited is no longer accepting loan repayments through a service point (a service point is another point, or location, from where a Credit Union may have offered its services). Please contact the Joint Administrators’ team on 0121 369 1410 or 0121 553 3110, or alternatively call 0113 244 5141 or e-mail 6TCU@pkfgm.co.uk to discuss arrangements for the repayment of your loan another way.
Can I open an alternative credit union account?
If you'd like to open a new credit union account you can do so with another credit union. The website www.findyourcreditunion.co.uk may help you find one near you.
A payment was transferred into my credit union account around the time FSCS declared 6 Towns Credit Union Limited in default. This amount does not appear to have been credited. Will the balance on my account be updated to reflect this payment?
FSCS will receive information from 6 Towns Credit Union Ltd which will show the individual balances of all accounts held by its members as at 5 September 2023.
Any amounts paid into your account on or after the Administration date will not be added to your savings balance and will be dealt with by the Joint Administrators. Contact them by phone on 0121 369 1410 or 0121 553 3110, or alternatively call 0113 244 5141 or e-mail at 6TCU@pkfgm.co.uk.
Do I need to notify FSCS if I have recently changed address?
FSCS will send payment to the address that 6 Towns Credit Union Ltd holds on its database.
If you did not let 6 Towns Credit Union Ltd know of your change of address before it was declared in default, or you notified it of this change but did not receive confirmation that its records had been updated before it was declared in default, FSCS will need to see evidence of your change of address before any compensation payment can be made.
Please contact the Joint Administrators’ team in the first instance by calling 0121 369 1410 or 0121 553 3110, or alternatively email 6TCU@pkfgm.co.uk and supply the team with evidence of the change of address. Once confirmed, they will instruct FSCS to make payment via the new postal address.
Documents that can be used as evidence include a council tax bill, a utility bill (not a mobile phone bill) or benefits entitlement letter, so long as they are less than three months old.
Do I need to notify FSCS if I have recently changed my name?
If you have already received your cash over the counter, or banked the cheque, you do not need to take any further action. If you have not received your payment or can’t bank the cheque, we will need to see evidence of your name change before we can return your money.
Please contact the Joint Administrators’ team on 0121 369 1410 or 0121 553 3110, or alternatively call 0113 244 5141 or e-mail 6TCU@pkfgm.co.uk with evidence of the change of name and once confirmed they will tell FSCS to make payment in the new name.
Documents that can be used as evidence include an original or certified copy a marriage certificate or a deed poll. Additionally, you will need to provide a council tax bill, or a utility bill (not a mobile phone bill) or benefits entitlement letter with your new name, dated less than three months ago.
I am the executor for someone who has recently died. Do I need to contact FSCS?
If the estate has already received cash over the counter, or banked the cheque, you do not need to take any further action. If the estate has not received the payment, you will need to send FSCS the original Death Certificate, Grant of Probate and a copy of the will or letter of administration. These documents are required before FSCS can make a payment.
However, should you wish to contact FSCS regarding any issues that you may have, please call freephone 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday 9am to 5pm excluding public holidays.
Alternatively, you can send these documents to the Joint Administrators by email to 6TCU@pkfgm.co.uk or by post to PKF GM, 3rd Floor, One Park Row, Leeds, LS1 5HN. The Joint Administrators will then contact FSCS so that we can pay compensation.
How will I be able to find out what is happening?
In the first instance, you should call the Joint Administrators’ team on 0121 369 1410 or 0121 553 3110, or alternatively call 0113 244 5141 or e-mail 6TCU@pkfgm.co.uk.
If you have a query about compensation from FSCS, further information is on our website; or call Freephone 0800 678 1100 or 020 7741 4100. Lines are open Monday to Friday 9am to 5pm excluding public holidays.
The Joint Administrators are Data Controllers and a privacy policy statement as required by the General Data Protection Regulation is available at https://pkfgm.co.uk/privacy-policy/
Should you wish to be supplied with a hard copy, free of charge, please contact the Joint Administrators’ team on 0113 244 5141 or e-mail 6TCU@pkfgm.co.uk.