Three Bee’s Credit Union insists all depositors’ money is safe and a meeting with the FSA is in the pipeline

Aug 18 2010 by Matt Hurst, Birkenhead News

THOSE overseeing Three Bee’s Credit Union insist it is safe and are planning a face-to-face meeting with the Financial Services Authority (FSA).

As reported in the News last week, the service had its permissions withdrawn by the FSA leaving depositors unable to access their savings, or pay any money in.

And although Three Bee’s’ secretary, Janet Dixon cannot go into the reasons for the withdrawal of permission because of restrictions imposed by the FSA, she says there is no danger savers will lose any of the money entrusted to the union.

Janet told the News: “We’re still under supervision at the moment and the other members of the committee and I have agreed with the FSA to travel down to London to make some sort of oral representation, hopefully.

“We’ve not been given an appointment, that’s still under review at the moment and they’re looking into when they can fit us in and we can go down.

“Hopefully, after that, the suspension will be lifted because we’ve done everything the FSA asked us to do.”

Three Bee’s has provided vital access to low cost loans, alongside savings accounts, for around 20 years and operates out of the Beechwood Community Association building in Birkenhead.

It is not administered by Beechwood Community Trust, as previously reported.