East London Credit Union Limited

(in Administration) ("the Credit Union" or "ELCU")

Unfortunately, the Credit Union went into Administration on 11 September 2019 and the branch office will be closing down within the next few weeks.

Stephen Cork of Cork Gully LLP, 6 Snow Hill, London, EC1A 2AY was appointed Administrator of the Credit Union. The Administrator is working closely with the Credit Union’s Regulators, to ensure that the Credit Union’s affairs are wound up as efficiently and quickly as possible.

The Credit Union is no longer able to offer any accounts to members and the Financial Services Compensation Scheme (“FSCS”) declared the Credit Union in default on 11 September 2019. You will need to open a new account with another credit union or bank as soon as possible (if you do not already have one).

If you’re an East London Credit Union (Waltham Forrest Community Credit Union) customer you don't need to worry, as your money is safe. The FSCS will automatically pay back your money within seven days for the vast majority of cases, according to the account details it receives from the credit union. Please visit https://www.fscs.org.uk/failed-firms/east-london/ for further information.

London Community Credit Union share a common bond area with East London Credit Union and have agreed to accept members who qualify to open an account with them. Further information can be obtained by calling 020 7729 9218 or by visiting their website at www.londoncu.com or visiting branches at the following locations:

Stratford – 34 Broadway, London, E15 4QS
Hackney – 225 Mare Street, London, E8 3QE
Bethnal Green – 473 Bethnal Green Road, London, E2 9QH
Bow – 570 Roman Road, London, E3 5ES
Poplar – 16 Vesey Path, London, E14 6BT

Alternatively, member have the opportunity to open a new credit union account with other credit unions. Please visit www.findyourcreditunion.co.uk for further information.

The affairs, business and property of East London Credit Union Limited ("in Administration") are managed by the Administrator who acts as the Credit Union’s agent and without personal liability.

Member Notification with Q&As

Initial Notice was sent to Members on 11 September 2019 with further details on the Administration of the Credit Union

Change of Address Form

Members should use this form to change their correspondence address