MSP Advises Safe Return of Depositors' Monies after Credit Union Closure

A credit union has gone into administration after it was declared to be in default.

The decision will affect more than 2600 members of North East Scotland Credit Union (Nescu) after it was declared to be in default.

The not-for-profit union has confirmed anyone who has savings with them is guaranteed to have their funds returned.

Commenting, Banffshire and Buchan Coast MSP Stewart Stevenson said:

“While this news will come as a shock to the members of the union, it is important they are aware that their money will be returned to them.

“Anyone who has been affected or has any concerns should contact me. I would advise anyone withdrawing cash to have another place to deposit their money safely.

“I will be contacting Nescu to request further information on this matter.”