Basildon Credit Union Limited

On 17 March 2025, Basildon Credit Union, was placed into Administration and stopped trading.

As a customer of Basildon Credit Union, you don’t need to worry, as your money is safe.

Any eligible deposits you held with Basildon Credit Union are protected by the UK’s deposit guarantee scheme, the Financial Services Compensation Scheme (“FSCS”). As Basildon Credit Union has now failed, FSCS will step in to repay your money.

Dina Devalia and Michael Kiely of Quantuma Advisory Ltd are the appointed Joint Administrators. They will contact you by email and/or post with documents about the administration. 

You don’t need to do anyting.  

FSCS will send you a cheque by post to the address Basildon Credit Union held for you on its records.

FSCS will send you a cheque by post to the address Basildon Credit Union held for you on its records. Your payment will be sent in an unmarked envelope.

In most cases, FSCS aims to make payment within seven days from 17 March 2025, the date Basildon Credit Union was placed into Administration.

FSCS will receive information from Basildon Credit Union confirming your individual balance. The amount you receive will be the balance of your account(s) on Thursday 13 March 2025.

 

If you disagree with the amount paid by FSCS, you should still bank your cheque so you can receive your funds.

Next, please contact the Joint Administrators’ team via email at BCU@quantuma.com or by telephone on 07469 278 739 or 020 3856 6720 and they will look into your query. 

Do not return your payment to FSCS unless you are specifically asked to do so.

If you haven’t received payment from FSCS by Wednesday 26 March 2025, please contact the Joint Administrators’ team directly via email at BCU@quantuma.com or by telephone on 07469 278 739 or 020 3856 6720.

If the name or address held by Basildon Credit Union are no longer your current details and you either didn’t update Basildon Credit Union with your new details before Thursday 13th March 2025 or you updated Basildon Credit Union with your new details but didn’t receive confirmation that they had updated their records before this date, FSCS will need to cancel and re-issue your payment to you using your current details.

Please contact the Joint Administrators’ team via email at BCU@quantuma.com or by telephone on 07469 278 739 or 020 3856 6720 and provide evidence confirming your change of name or address. Once confirmed, they will instruct FSCS to send your payment to the new postal address with the correct details.

You will need to open a bank account with another provider (e.g. a bank, a credit union, or building society) urgently so that you can bank the cheque and access your funds as soon as possible.

If you wish to open an account with a credit union you can get information about credit unions from the Association of British Credit Unions Limited website at www.findyourcreditunion.co.uk or the ACE Credit Union Services website at www.acecus.org.

If you’re based in Scotland, you can get information about credit unions by checking the website of the Scottish League of Credit Unions at www.scottishcu.org.

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. 

The nearest Citizens Advice to the Basildon Credit Union Ltd’s office is Citizens Advice Braintree and South Essex – Basildon and its details are as follows:

Address: The Basildon Centre, St Martins Square, Basildon, Essex, SS14 1DL
Website: https://cabse.org.uk/ 
Telephone: 0808 278 7877
Telephone advice service opening times: Monday – Friday 9am-5pm

You can also visit in person between 9am-12pm Monday – Thursday but please check if you need to make an appointment beforehand.

Citizens Advice Bureau will try to place you with an adviser, subject to volunteer availability. If this is not possible, you will be given alternative ways to contact them.

Some local Citizens Advice offices can only give you advice if you live in their local council area. It's usually best to contact a Citizens Advice based in your local council area. You can search for your local Citizens Advice office on the following website:

https://www.citizensadvice.org.uk/about-us/contact-us/nearby/?q=

A full list of Citizens Advice offices in the local area including postal contact addresses, email contact addresses and telephone numbers can be found on the Citizens Advice website.

Further information on basic bank accounts can be found online, such as on the MoneyHelper website.

As Basildon Credit Union has failed, all accounts will be closed. If your salary or benefits are paid into the account you held with Basildon Credit Union, please follow the steps below immediately.

1. Contact your employer, the DWP or your pension provider to tell them to pay your salary, benefits or pension into an alternative account. If you don’t currently have an alternative account, you’ll need to open one as soon as possible so any future payments from your employer, the DWP or your pension provider can be made to you.
2. If you were due to receive your payment into your account either on or after Thursday 13 March 2025 please contact the Joint Administrators’ team directly via email at BCU@quantuma.com or by telephone on 07469 278 739 or 020 3856 6720 and request a Return of Funds form. You would then need to complete this and return it to the Joint Administrators so they can investigate.

It is absolutely 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. Basildon Credit Union Ltd accounts will be closed very soon and any monies will be automatically returned / bounced back to the party trying to make the payment.

If you are in receipt of any of the following benefits you will need to contact your local JobCentre or call the DWP. The relevant contact details are listed below:

• Jobseeker’s Allowance 0800 169 0310
• Income Support - 0800 169 0310
• Employment and Support Allowance - 0800 169 0310
• Universal Credit - 0800 328 5644. You can also contact them through your online account. 
• Further information can be found on their website.
• Personal Independence Payment - 0800 121 4433
• Disability Living Allowance - 0800 121 4600
• Attendance Allowance
• Carer’s Allowance
• Pension Credit
• State Pension
• Working Tax/Child Tax Credits - This is a 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 a HM Revenue & Customs (HMRC) administered benefit. You can change your bank account details online using the HMRC webpages at www.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 in the question about what do if you don't have another bank account.

Please check Basildon Credit Union’s website, https://basildoncu.co.uk/ for further information and support.

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 Basildon 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/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 question below.

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, Dina Devalia and Michael Kiely of Quantuma Advisory Ltd, who will contact you by post about this and provide you with the Administration bank account details as soon as possible.

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 contact the Joint Administrators’ team via email at BCU@quantuma.com or by telephone on 07469 278 739 or 020 3856 6720 and they will look into your query.

 

Please don’t worry, their money is safe and you don’t need to do anything.

FSCS will send your child's payment by cheque to the address Basildon Credit Union held for them on their records. If the account is operated by an adult on your child's behalf, the cheque will be sent to the account operator’s address, but the payment will be in your child's name.

If your child doesn’t currently have an alternative bank account, one will need to be set up so that the cheque can be paid into their account.

If Basildon Credit Union wasn’t made aware before Thursday 13 March 2025 that the late customer had passed away, then FSCS may have sent payment to the late customer via cheque to the address held by Basildon Credit Union for their account.

Please contact the Joint Administrators’ team via email at BCU@quantuma.com or by telephone on 07469 278 739 or 020 3856 6720. The Joint Administrators’ team will confirm what evidence they require from you in order to process your payment with the FSCS.

If the information provided on https://basildoncu.co.uk/, does not answer your questions, please contact the Joint Administrators’ team via email at BCU@quantuma.com or by telephone on 07469 278 739 or 020 3856 6720.

If you have a query about compensation from FSCS, further information is on its website at www.fscs.org.uk; 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 notice statement as required by the General Data Protection Regulation is available at: http://www.quantuma.com/legal-notices.

Should you wish to be supplied with a hard copy, free of charge, please contact the Joint Administrators’ team.

If you were a member of Basildon Credit Union it is possible that the Joint Administrators Dina Devalia and Michael Kiely or members of their team may contact you, for example if additional information is needed to issue your payment.

Should this happen, they will always follow appropriate security protocols to provide assurance that the contact is genuine and you will never be asked for money to receive your payment. If you have any concerns about the contact you’ve received, we’d recommend you end the contact and call the Joint Administrators directly using any of the contact details provided above.