The FCSA ensures that everyone with savings under £83k will get their money back (mine came in 8 days) and that, by the nature of its membership, is every member. Tragically, for many, the Provy - for they are still around - will be the only easy option, once again.

RIP LCCU. 2000-2025

Cheap loans provided sensibly and securely were a good idea, and I worked with Trading Standards officers (who ran a debt advice service) and my team to get it up and running. Anyhow, sadly the costs got too much for LCCU, it was no longer viable, and it ceased trading on 22 January this year.

I was personally invested in it as someone who grew up with loan sharks knocking at the door (the Provy man with his up to 170% interest rates) and sometimes getting clothes and shoes from a tally man.

For 25 years the credit union has been serving the community, growing and often taken over branches of banks that had withdrawn from the east end, and absorbing small credit unions that were struggling. 17,000 local people were regular savers and borrowers.