PKF GM appointed administrator of 6 Towns Credit Union

PKF GM has been appointed administrator of 6 Towns Credit Union, whose membership extended to residents and employees who live or work in the credit union’s common bond areas of Sandwell, Worcestershire and South Birmingham. 

James Sleigh and Peter Hart from the accountancy firm are handling the administration process, as the FSCS has also declared the credit union in default, meaning that savers are entitled to receive their deposits back. 

Sleight said: “6 Towns Credit Union members don’t 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 6 Towns Credit Union should look out for a cash over the counter payment (if below £250) or a cheque (if over £250) in the post from the FSCS in the next few days.”

He added: “We’ll also be in touch with anyone who has a loan from the 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.”