You don't need to do anything
Strathkelvin Credit Union Ltd has failed.
On 22 February 2022, Strathkelvin Credit Union Ltd was placed into administration and ceased trading. The Financial Services Compensation Scheme declared Strathkelvin Credit Union Ltd as failed (in default) on 22 February 2022.
As a Strathkelvin Credit Union Ltd customer, you don't need to worry, as your money is safe.
FSCS will automatically pay back your money, according to the account details we receive from the credit union. We'll contact you by post.
There are more details below, and answers to commonly asked questions on the Q&A tab.
Download the determination papers (pdf 0.1MB).
In most cases, FSCS aims to make payment within seven days from the date we declared it failed, on 22 February 2022. For more complex cases, which may require further investigation, we'll aim to settle claims within 10 working days of being notified of the issue.
All payments will be made by cheque, sent by post in an unmarked envelope.
FSCS will receive information from Strathkelvin Credit Union Ltd that will detail your individual credit balance. The payment you receive will be the balance on your account on the date FSCS declared Strathkelvin Credit Union Ltd as failed, on 22 February 2022.
If you disagree with the amount paid by FSCS, please call the Administrators’ team first on 0141 432 0360 or 0141 446 6446, or alternatively call 0141 348 7808 or e-mail scu@quantuma.com and they will look into your query. Do not return your payment to FSCS unless you are specifically asked 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 you need help in opening a Basic Bank Account, your local Citizens Advice Bureau should be able to help or visit your local high street bank.
Details for the Citizens Advice Bureau in East Dunbartonshire:
11 Alexandra Street, Kirkintilloch, G66 1HB
Telephone: Local helpline – 0141 775 3220, website.
Opening Hours:
Monday-Thursday: 10am to 3pm and 5pm to 7pm
Friday: 10am to 5pm
Saturday: 10am to 12 noon
Citizens Advice East Dunbartonshire service remains by telephone, email and web-chat, with some limited appointments. They are also still unable to operate all of their outreach points due to restrictions within the buildings, please contact them for further details.
Further information on Basic Bank Accounts can be found on the MoneyHelper website.
All Strathkelvin Credit Union saving accounts will no longer operate. 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 direct debits or standing orders are paid into your Strathkelvin Credit Union saving account, you'll need to arrange for these payments to be paid into a new or different account. You should cancel any existing arrangements that send these payments to your Strathkelvin Credit Union savings account.
You can contact your local Jobcentre, or telephone the DWP on the following Freephone numbers:
- Employment Support Allowance (ESA) – 0800 169 0310
- Income Support (IS) – 0800 169 0310
- Jobseekers 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 here: www.gov.uk/universal-credit/contact-universal-credit
- Personal Independence Payment (PIP) – 0800 121 4433
- Disability Living Allowance (DLA) – 0800 121 4600
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 in Kirkintilloch: website page
Contact details for General Enquiries: East Dunbartonshire Council, Revenues and Benefits Team, Revenue Services, William Patrick Library, 2/4 West High Street, Kirkintilloch G66 1AD
Opening times: Monday-Friday 9am to 5pm.
Email: benefits@eastdunbarton.gov.uk - Working Tax/Child Tax Credits. This is HM Revenue & Customs administered benefit. To change bank account details, contact HMRC on 0345 300 3900
- Child Benefit. This is also HMRC administered. To change your bank account details, go online using the HMRC webpages from 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 in contacting these agencies, your local Citizens Advice Bureau should be able to help you.
No. FSCS will pay you your compensation by sending you a cheque in an unmarked envelope.
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.
Don't 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, Simon Bonney and Ian Wright of Quantuma Advisory Ltd, who will provide the Administration bank account details as soon as they can.
If you made payments covering both loans and savings, the Administrator will 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 0141 432 0360 or 0141 446 6446, or alternatively call 0141 348 7808 or e-mail scu@quantuma.com and they will look into your query.
Strathkelvin Credit Union Ltd 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 from). Please contact the Joint Administrators’ team on 0141 432 0360 or 0141 776 6446 or 0141 348 7808; or email scu@quantuma.com to discuss arrangements for the repayment of your loan another way.
If you wish 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 something suitable.
FSCS will receive information from Strathkelvin Credit Union Ltd that will show the individual balances of all accounts held by its members at the date of default, 22 February 2022.
Any amounts paid into your account after the administration date will not be added to your savings balance and will be dealt with by the Joint Administrators, who you can contact by phone on 0141 348 7808 or e-mail at scu@quantuma.com
For junior members, FSCS will send a payment in the name of the account holder for the money in their account at the date of default.
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 pay parents or guardians.
FSCS will send payment to the address that Strathkelvin Credit Union Ltd holds on its database.
If you did not let Strathkelvin Credit Union Ltd know of your change of address before it failed, or you notified it of this change but did not receive confirmation that its records had been updated before it failed, FSCS will need to see evidence of your change of address before any compensation payment can be made.
Please contact the Joint Administrators' team by calling 0141 432 0360 or 0141 776 6446 or 0141 348 7808 or e-mail scu@quantuma.com and supply the team with evidence of the change of address. Once confirmed, they will 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, so long as they are less than three months old.
If you have already 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 0141 432 0360 or 0141 776 6446 or 0141 348 7808 or e-mail scu@quantuma.com 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 of a 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 a benefits entitlement letter with your new name, dated less than three months old.
If the estate has already 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, 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 scu@quantuma.com or by post to Strathkelvin Credit Union Limited c/o Quantuma Advisory Ltd, High Holborn House, 52-54 High Holborn, London WC1V 6RL. The Joint Administrators will then contact FSCS so that we can pay compensation.