8 April 2018
The Financial Services Compensation Scheme (FSCS) is aware that the 380 cheques it sent on 5 April 2018 to members of South Tyneside Credit Union Limited (trading as First For Money) contain a printing error, and cannot be cashed. Members with more than £1,000 in their account who received a cheque for their balance direct from FSCS are affected.
FSCS is acting quickly to put this right and intends to issue replacement cheques to affected members of the credit union by no later than Monday morning (9 April 2018). This means these members should receive the replacement cheques by Tuesday (10 April 2018). In the meantime, to avoid confusion, FSCS has cancelled the cheques it has already issued to the 380 members affected.