UK community lender Barrow & District Credit Union goes bankrupt

The Barrow & District Credit Union (BDCU), a UK community savings bank, has closed with administrators called in to secure the money of its 1,200 members.

The FSCS is expecting a payout of over £ 500,000

The British Financial Services Compensation Scheme (FSCS) has stepped in and will compensate the 1,227 affected people. A total payout of more than £ 500,000 is expected.

“If you have savings at [BDCU], you don’t have to do anything to get your money back, “says James …

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