Administrators appointed at Pioneer Mutual Credit Union Limited
Read time: 11 mins
Service: Restructuring Sector: Credit unions
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.
Dina Devalia, the Joint Administrator said: “Pioneer Mutual members don’t need to worry as all of their money is safe – 100% of members’ deposits will be returned by the FSCS.
“You don’t need to do anything to get your money back – anyone with a deposit with Pioneer Mutual should look out for a cheque in the post from the FSCS in the next few days.
“We’ll also be on hand 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.”
Please contact the Administrators team in the first instance on 0141 432 1250 or 0141 881 1353 or alternatively on 0113 244 5141; or email firstname.lastname@example.org
9 March 2021 – update: The Joint Administrators are aware of member’s recent contact to advise that their FSCS cheques have not cleared. We are working closely with FSCS to resolve this matter in order to expedite members share payment as soon as possible.