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Dial-A-Cab Credit Union Limited and Harp Credit Union Limited enter administration

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Dial-A-Cab Credit Union LimitedOn 4 September 2018, the High Court appointed Jo Milner and Stephen Cork of Cork Gully LLP as administrators of Dial-A-Cab Credit Union Limited. This followed an unannounced visit by its regulators to the credit union’s offices. Dial-A-Cab Credit Union Limited is regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 213263 as a deposit-taker.Both the PRA and FCA will continue to work closely with the firm during the administration to ensure that members are treated fairly. The FCA and PRA are liaising with the police and the FCA has commenced an investigation.The Financial Services Compensation Scheme (FSCS) is stepping in to protect customers and return money to most of the credit union’s 1,250 members within its seven day target; covering up to £85,000 for individuals and up to £170,000 for joint accounts.Members who want to contact the administrators to discuss their accounts can do so by calling 020 7268 2150 or emailing DACCU@corkgully.com.Harp Credit Union LimitedHarp Credit Union Limited was also placed into administration on 4 September 2018 and has now ceased trading. Jo Milner and Stephen Cork of Cork Gully LLP have been appointed as administrators. Harp Union Limited is regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 213509 as a deposit-taker.The FSCS is stepping in to protect customers and return customers’ money within 7 days from 4 September when Harp Credit Union Limited was declared in default.Members who want to contact the administrators to discuss their accounts can do so by calling 020 7268 2150 or emailing Harp@corkgully.com.

 

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