The Police Credit Union.

Owned by investing members. No shareholders to pay.

A credit union is a ‘not for profit’ financial institution owned and controlled by its members, just like a mutual building society – with no traditional shareholders to pay.

Each credit union has a ‘common bond’ based on living or working links or membership of an association – which determines who can become a member.

The Police CU was set up by the police, for the whole of the police family – serving and retired police officers/police staff and members of their households. It now serves the wider law enforcement family.

With nearly 21,000 members, we operate from regional branch offices mainly covering England and Wales. For more information on Police Credit Union branch offices, please contact us.

Police CU operates under the terms of the Credit Unions Act 1979, enhanced by the Legislative Reform Order 2012. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and The Prudential Regulation Authority, the same bodies that cover banks and building societies.

A Wealth of Benefits

The aims of a credit union are to:

Promote the financial wellbeing of members by helping them to build up their savings
Create sources of credit for the benefit of the members of the union at a fair and reasonable rate of interest
Look after members’ savings and invest them wisely for their benefit
Offer members guidance on the wise use of money and managing of their financial affairs

Simple, secure financial services to meet police and law enforcement employees’ needs, PCU offers simple, easy access regular savings facilities with an annual dividend. Savings are made directly from pay in many forces and by direct debit in others. There is also a Cash ISA for tax free saving.

We also offer our saving members the option of fixed term unsecured loans for any purpose up to £25,000, a "top-up" credit facility up to £12,000 and an alternative to overdrafts (from £500 to £5,000).

There are no arrangement fees or early settlement charges.

And, there’s life cover too, at no extra cost, for adults up to the age of 65, to repay loans up to £25,000 or double savings to a maximum of £25,000 in the event of a claim.

The facts. It figures.

Financially and socially, Police CU's figures make sound sense.

Credit Union rules mean PCU aims to pay a dividend on savings once a year to all their members. Members’ savings are kept within the ‘common bond’ and the money is lent to other members to help them, in return for a sensible rate of interest charged.

By law, a credit union cannot currently charge more than an APR of 26.8% but again, the rate we charge is generally far less than this.

Loans are subject to status, conditions and credit checks to members aged 18 or over. Written details are available upon request.

There are over 50,000 credit unions around the world, enabling over 196 million members to access affordable financial services. For more information about the credit union movement, please visit the website of the Association of British Credit Unions Limited.