Dina Devalia and Terri Mulgrew of business advisory firm Quantuma have been appointed as Joint Administrators of financial cooperative Waltham Forest Council Employees Credit Union Limited, trading as ‘Forest Savers’.
Founded in the 1990s, the credit union is based in Walthamstow, London and acts as a financial cooperative, offering its members financial security through saving and borrowing.
Waltham Forest Council Employees Credit Union entered administration on 19 August 2025. The credit union’s office in Walthamstow will close immediately.
All members funds, below the £85k limit, will be protected and repaid in full by the Financial Services Compensation Scheme (FSCS). All loan members will be required to continue repaying their loans in this administration, in line with the loan agreement.
The administration team will assist any members who need support and FAQs with a list of useful contacts have now been published on the FSCS website. https://www.fscs.org.uk/waltham-forest-council-employee-cu
Dina Devalia, managing director and expert on credit union administrations at Quantuma, said:
“Members of the Waltham Forest Council Employees Credit Union do not need to worry. Their money is safe and the FSCS will return 100 per cent of members’ deposits, subject to the FSCS limit.
We are working closely with the FSCS to ensure that all members will receive their money back as soon as possible. Our team is contactable by email WFCECU@quantuma.com or telephone on 07469 278 739 or 020 3856 6720 to assist members with any queries that they may have on issues such as loan repayments or queries relating to their FSCS payments.”
View Frequently Asked Questions (FAQs): Updated as of 21st August 2025
https://www.quantuma.com/frequently-asked-questions-waltham-forest-council-employees-credit-union-wfcecu-trading-forest
Members are advised to please contact the Administrators’ team by email in the first instance on WFCECU@quantuma.com or alternatively call 07469 278 739 or 020 3856 6720 and our team will look into your query.
