Quantuma appointed Administrators of Waltham Forest Council Employees Credit Union Limited
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.
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% of members’ deposits, subject to the FSCS limit.