On 22 January 2025, London Community Credit Union (LCCU) was placed into administration and has now stopped trading. James Sleight and Stratford Hamilton of PKF Littlejohn Advisory Limited have been appointed as joint administrators.
20 March 2025 update: Consumer warning
We have been notified of potential scams following the administration of London Community Credit Union Limited.
We are aware of a suspected scam involving London Commercial Bank Group Plc. This entity has no connection to London Community Credit Union and does not appear to be a registered company in the UK. It is also not an FCA-authorised firm. If you are contacted by London Commercial Bank Group Plc, be careful as this may be a scam. See more on how to protect yourself from the most common types of scams[1].
In addition, we understand some customers have been cold-called by individuals claiming to represent the administrators and requesting settlement of outstanding loans. If you receive such a call, please hang up and contact the administrators directly using the contact details below. Please note, customers may receive genuine contact from the administrators regarding their loans. In these calls the administrators will take steps to verify themselves.
LCCU is a financial co-operative owned by its members. It is regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 213743 as a deposit-taker.
The Financial Services Compensation Scheme (FSCS)[2] is stepping in to protect members and will return members’ money within 7 working days from when the Credit Union was declared in default (22 January 2025).
- Members with a valid email address registered to their LCCU account, can request their payment from FSCS either by cheque or direct bank transfer via the online FSCS Payments Portal. Members will receive an email from FSCS inviting them to use the portal if they are eligible. The email will be sent from the following email address [email protected].
- Members who don’t receive an email from FSCS or are unable to use the FSCS Payments Portal before it closes, don’t need to do anything. FSCS will automatically send a cheque for their payment in the post within 7 working days. There is no need to contact FSCS.
Members can get more information about receiving their money by:
- emailing - [email protected]
- calling FSCS - 0800 678 1100 or 020 7741 4100, lines are open Monday to Friday from 9.00am to 5.00pm
- viewing the FAQs on the FSCS website[3]
- viewing information on the Payments Portal[4]
Members who make or receive regular payments from their account (eg, salary, rent or benefits) or want to discuss their accounts can:
- visit the LCCU website[5]
- email the administrator on [email protected]
- call the administrator on 020 7729 9218, 020 7189 1379, or 0113 541 7890
Guidance is available on both the LCCU website[5] and administrator website[6].
Being alert to scams
If you were a member of LCCU, it is possible that the joint administrators, James Sleight or Stratford Hamilton of PKF Littlejohn Advisory, or members of their team, the FSCS, or the credit union will contact you. Should this happen, these parties will follow appropriate security protocols to provide assurance that the call is genuine. Should you have any concerns about the legitimacy of the call, please end the call and contact the relevant party directly using the contact details above. See more on how to protect yourself from the most common types of scams.