London Community Credit Union - Administration

London Community Credit Union, a credit union whose membership covers residents and employees who live, work or study in the London boroughs of Hackney, Haringey, Islington, Newham, Tower Hamlets, Waltham Forest or the City of London, entered administration on 22 January.

The credit union’s regulatory bodies have also declared it to be in default, meaning that savers are entitled to receive their deposits back.

James Sleight and Stratford Hamilton of PKF Littlejohn Advisory were appointed joint administrators and reassured members that their savings deposits will be returned by the Financial Services Compensation Scheme (up to the limit of £85,000 per individual).

The credit union’s directors have been assisted by Foot Anstey.