Police Credit Union
Because there's strength in unity
Honorary President: Lord Stevens of Kirkwhelpington, QPM
Resourcer Loan
You can take out a Resourcer loan for any purpose – even paying off credit card or other debts.
Serving or retired police officers and police staff or any relative aged over 18 who is living in the same household or POA member*s are eligible apply. To qualify for a loan with PCU, you first need to be a member, investing and continuing to invest at least £10 per month in a PCU Rewarder account (if you are eligible to apply you may join and submit an application online in one transaction).
There is a minimum loan of £3,001 on Resourcer loans, the maximum is currently £25,000. For loans up to £3,000, please check out Starter, Responder or Reloader loans.
The Resourcer’s fixed representative APR is currently 9.0% for loans of £3,001 – £5,000, 8.5% for loans of £5,001 – £7,500 and 8.0% for loans of £7,501 – £25,000. We only charge you interest on the reducing balance. Repayments may be paid by payroll deduction, where the facility exists, or by direct debit.
We do recommend that you look beyond the headline interest rate advertised by other lenders and check out just how much you'll actually pay per month for the amount you wish to borrow.
If you wish, you can pay off part of your loan with a lump sum. Your monthly repayments will stay the same, but the term of the loan will be diminished and the total amount of interest paid reduced. Or you can pay off the whole loan, so that there'll be no more interest to pay. Either way, there are no penalties.
AND you benefit from Life Insurance at no extra cost up to the age of 65 (conditions apply). In the event of a claim, your PCU loan(s) will be waived and your savings balance(s) up to £25,000 will be doubled.
Please refer to Terms and Conditions in this section to see details of the content of the credit agreement which you would be required to sign when taking out either a Resourcer or Responder loan.
For your assistance and information, we have produced a representative table of monthly repayments for Resourcer loans.
Apply Online
Click here to receive an instant quote and apply online.
Further Information and Application Forms
To download the Resourcer leaflets plus the terms and conditions of the life cover, please visit our downloads section.
To apply for a Resourcer Loan, please download the leaflet in our downloads section. Please note that we can only consider loan applications from existing members. So, if you're considering a loan in the future, think first about saving in the Rewarder regular savings account.
Contact Us
If you want to discuss any aspect of borrowing with a Resourcer loan, please contact any branch.
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 within 14 days of completion, without financial penalty or interest charge, by repaying all funds borrowed.
*POA members are accepted where a payroll deduction is available.
Please note that while we do try and help our members, Police Credit Union will not lend to members which we consider to have a high risk profile.
Unfortunatley, members with a shorter credit history, past financial problems or an unsuitable profile may not be permitted to borrow high amounts and in some cases no loan will be permissible. This helps to protect the interests of the majority of members.