Quantuma appointed Administrators of Hastings & Rother Credit Union Limited t/a 1066 Community Bank

Founded in 1999, the credit union is based in Hastings and acts as a financial cooperative, offering its members financial security through saving and borrowing. In 2018 the credit union recorded a turnover of £13K.

Hastings & Rother Credit Union Limited entered administration due to regulatory and solvency issues on Tuesday, 8 August 2023. The credit union’s office in Hastings 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/making-a-claim/failed-firms/hastings-rother/

Dina Devalia, managing director and expert on credit union administrations at Quantuma, said: 
“Members of the Hastings & Rother 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. We are contactable by email HRCU@quantuma.com or telephone on either 01424 390150, 01424 202651 or alternatively call 0746 927 8739 to assist members with any queries that they may have on issues such as loan repayments or setting up new accounts for benefits payments.”

View Frequently Asked Questions (FAQs): 
https://www.quantuma.com/frequently-asked-questions-hastings-rother-credit-union-limited

Members are advised to please contact the Administrators’ team in the first instance on 01424 390150, 01424 202651 or alternatively call 074 6927 8739 or e-mail HRCU@quantuma.com and our team will look into your query.