Administrators appointed to Credit Union

Barrow & District Credit Union (BDCU) has announced that it has entered into administration

James Sleight and Peter Hart of PKF GM have been appointed as Joint Administrators of the Credit Union

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 “Barrow & District Credit Union members do not 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 Barrow & District Credit Union should look out for a cheque in the post from the FSCS in the next few days.” We’ll also be in touch with anyone who has a loan from Barrow & District 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.”