Negotiations remain ongoing over the future of a funeral plan in Clydebank.
The Family Protection Plan (FFP) at Dalmuir Credit Union is set to close as a result of the underwriter withdrawing from the UK market.
In an update provided to credit unions, CMutual, the insurance broker for the plan, confirmed the FFP will "continue to be available for an extended period for those certificate holders who wish to continue with cover".
This temporary extension has been secured to allow on-going negotiations over the summer months with a prospective new underwriter with the aim of securing potential alternative products to be in place.
READ MORE: Clydebank pensioners blast funeral plan closure as a 'scandal'
The organisation also confirmed that whilst they "cannot guarantee the availability of alternative products being available, the additional time will allow negotiations and discussion to continue".
CMutual will "continue to update credit unions in the months ahead around progress and official termination of the FPP product will occur when all relevant information is available across these different themes/workflows".
We previously reported how almost 70 pensioners at the credit union, some of whom have been paying for the scheme for 25 years, could be left with nothing if a solution is not found.
Dalmuir Credit Union held a meeting in the Clyde Venue on Alexander Street on April 11 to give worried customers an update - after they were told they may lose thousands of pounds put into the FPP.
Several credit union members who left the meeting said they were advised to take out a new policy with the union, which could cost around £60 a month per person on the policy.
A statement from Dalmuir Credit Union read: "The staff and board of Dalmuir Credit Union are very aware of the frustration and stress the proposed closure of the FPP policy has caused and are continuing to be active in trying to bring a resolution and a positive outcome for them.
"We received an update from CMutual on May 22 and will be communicating the details of this to affected members in the coming week."
Share