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Police Credit Union
Because there's strength in unity

Honorary President: Lord Stevens of Kirkwhelpington, QPM

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Responder Loan

Client Testimonials

” I use the PCU as the benchmark to compare with other financial services and to date none are anywhere near your standard. Thank you..”

Serving Officer
Member Since 2003

Straight forward loans with no hidden charges

Click the i button below for further information about each loan and the calculator symbol for an interactive loan calculator.

Resourcer Loan

Fixed Term Unsecured Loan Amount

  • Borrow from £2,000 up to £20,000 for any purpose with a minimum of only £10 in savings.
  • No set up fees
  • APR is not based on your credit score – all our members entitled to the same honest and competitive rates.
  • No penalties for partial or full repayment.
  • Life cover provided at no extra cost during the loan term up to age of 65**.
  • In the event of a claim, your PCU loan(s) will be waived and your savings balance(s) doubled.

Read more about the Resourcer Loan or to ask a loan related question.

**Life insurance is offered subject to conditions.

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Responder Loan

Unsecured Top Up Credit Facility

There may be some situations where a fixed term loan for that large purchases might not be right for you. That's when a Responder top up credit facility possibly could be. It's designed to give you flexibility to cover those smaller, unexpected expenses or those regular, ongoing commitments. And it's almost certainly cheaper than a credit card or store loan carried over from month to month.

You can arrange a Responder loan* for an initial sum and then take out further loans*, up to six times per year, with flexibility to change the repayment term of the new combined outstanding balance to suit your own situation.

  • Borrow from £100 up to £12,000 for any purpose with a minimum of only £10 in savings.
  • No set up fees
  • APR is not based on your credit score – all our members entitled to the same honest and competitive rates.
  • No penalties for partial or full repayment.
  • Life cover provided at no extra cost during the loan term up to age of 65**.
  • In the event of a claim, your PCU loan(s) will be waived and your savings balance(s) doubled.

Read more about the Responder Loan or to ask a loan related question.

*Loans subject to status, conditions and credit checks to members aged 18 or over. Written quotations for loans available on request.

**Life insurance is offered subject to conditions.

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Reloader Loan

One Agreement, 3 Years of Loan Advances
The alternative to overdrafts and credit cards

Everyone understands about overdrafts and high credit card interest rates - but PCU offers an alternative that helps keep your borrowing more manageable. It's a flexible 3 year loan facility, allowing you to take advances from pre-agreed limit when you need them.

  • Loan limits between £500 and £5,000
  • Ideal for small, one-off unexpected or regular expenses (advances from as little as £100)
  • Interest rate fixed for 3 years
  • Only make repayments when you've actually borrowed; you could set up a Reloader account to cover unexpected costs, then not use it
  • Once a limit has been agreed, advances can be made as often as you wish
  • APR is not based on your credit score – all our members entitled to the same honest and competitive rates.
  • No penalties for partial or full repayment.
  • Life cover provided at no extra cost during the loan term up to age of 65**.
  • In the event of a claim, your PCU loan(s) will be waived and your savings balance(s) doubled.

Read more about the Reloader Loan or to ask a loan related question.

**Life insurance is offered subject to conditions.

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Clear and simple application process

Simply click "APPLY ONLINE" as above and complete the secure online application form.

An initial assessment is then performed by us (we aim to achieve this within two to three working days). Where possible an approval* decision is made in principle and a credit agreement is sent to your designated postal address for you to sign and return with two recent pay advice slips (originals). If we are unable to reach a decision based on our initial assessment alone, then we may require further supporting documents. Either way we will keep you well informed about the progress of your application.

Upon receipt of your supporting documents (eg pay advice slips), we will reach a final decision as soon as possible (usually within two to three working days). Again we will keep you well informed about the progress of your loan application throughout.

*Loans subject to status, conditions and credit checks to members aged 18 or over. Written quotations for loans available on request.

Under the Distance Marketing Directive, you have the right to cancel your loan agreement within 14 days of signing, without financial penalty or interest charge, by repaying the loan in full.

Always look beyond the advertised APR%

With Police Credit Union you are guaranteed:

  • A competitive interest rate (everyone pays the same, whatever your credit rating)
  • Life cover at no extra cost – savings doubled and loans repaid in the event of death (up to age 65 and subject to conditions)
  • No arrangement fee, no early redemption penalty and no final settlement fee

Loan comparisons based on a typical personal loan of £4,000 arranged over 48 months (excluding optional payment protection insurance)

Lender APR Monthly Payment Total Repayable Saving with PCU
PCU Resourcer 9% £99.54 £4777.92 –
Tesco Bank 15.9% £113.16 £5431.68 £653.76
NatWest Bank 16.9% £115.21 £5530.08 £752.16
RBS 16.9% £115.21 £5530.08 £752.16
Co-op Bank 17.9% £117.29 £5629.92 £852.00
Virgin Money 17.9% £117.29 £5629.92 £852.00

LOANS SUBJECT TO STATUS, CONDITIONS AND CREDIT CHECKS TO MEMBERS AGED 18 & OVER
Competitor information source: Moneyfacts (March 2010)
Repayment calculations source: PCU Acumen