Whitmore Reans Credit Union has announced it has appointed liquidators. In March 2016, the Wolverhampton-based credit union stopped trading after it was unable to repay deposits to its members. The Financial Services Compensation Scheme (FSCS) stepped in to protect the 981 members of the credit union.
Whitmore Reans Credit Union has now revealed that on 31st January 2017 it appointed Stephen Cork and Joanne Milner of Cork Gully LLP as liquidators.
The news comes after North East Lincolnshire Credit Union, Hartlepool Credit Union and Coastal Credit Union all ceased trading in 2016.