Tuesday, July 5, 2016

News: LASER's lease problems prompts panic among savers


Rotherham's LASER Credit Union has moved quickly to reassure savers that their money is safe after operations were affected when staff were refused entry into their own premises by new landlords.

The organisation, which has been running since 2003, offers low cost loans to members, as well as saving schemes with competitive returns. It operates on a not-for-profit basis and provides an alternative to the big banks.

A statement from LASER read: "LASER Credit Union sincerely apologies to its customers for the inconvenience caused by the unforeseen closure of the office.

"LASER Credit Union business activities have been disrupted by actions outside our control. Rumours about our financial position are false. Please be assured that all members savings are safe as they are covered by the Financial Services Compensation Scheme guarantee.

"I would like to reassure you as members that LASER is in business and we are working hard to be up and running as soon as possible."


The credit union operates from Units 9 & 10 in the Old Town Hall in Rotherham town centre. Rothbiz reported last month that the majority of the converted Old Town Hall building was bought having first failed to sell at a recent auction.

The new landlord has refused to finalise the lease that had been negotiated with the previous landlord and has refused to let staff into their offices.

A statement from Rotherham Council, who supported the move to the current premises, said: "Rotherham Council is providing support and assistance to Laser Credit Union, who are temporarily unable to access their usual premises, and are therefore unable to deliver their services.

"We have offered help and support to Laser to get their services up and running again as quickly as possible. Where individuals have contacted the Council directly, we are working to provide the appropriate levels of advice and practical help in the interim.

"We are directing people – including via the Council’s website – to the Laser website, which will be the key point for information once more becomes available."

LASER Credit Union website

Images: LASER Credit Union


Cllr. Nigel Simpson July 6, 2016 at 3:07 PM  

Staff are now temporarily based at Riverside house, until permanent site can be found.
Until 5:30 today
9-4:30 (7th 8th July)

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