Savings - Police Credit Union

Prepare for the future. Start saving today.

Deductions straight from your Police pay. Minimum savings £10 per month. FREE to join. Close at anytime. Quick and easy access to withdrawals Life cover at no extra cost*

Savings Junior Cash ISA

Regular Saver

To join the Credit Union every member must save a minimum of £10 per month into the Regular Saver. It is completely free to join and you can change the amount you save at anytime.

Membership

Become a member today for FREE

Opening a Regular Savings Account gives you membership to the credit union.
Membership entitles you to open other savings accounts and apply for a loan, if you’re aged 18 or over.
Life Cover (at no extra cost), doubles your savings balance (up to a member maximum of £25,000) in the event of a claim.
Membership is open to the armed forces, veterans (in receipt of a pension), serving or retired police and prison officers, serving police and prison staff and any family member living at the same address as the main member.

Dividend

Benefits

Open an account and you’ll soon be rewarded

You can open a Regular savings account with an initial sum of as little as £10 and then save at least £10 per month.
Family members’ savings can be deducted from your pay (where available), alternatively family members can contribute by direct debit.
Additional lump sums can be paid in by cheque (payable to ‘Police Credit Union Ltd’), or debit card in branch or over the phone. Temporary restrictions on lump sums may apply from time to time.
You can increase or decrease your monthly savings amount (subject to a minimum savings of £10 a month) in writing by post or email, or by calling our office on 0121 700 1222.

Withdrawals

Withdraw your money at anytime.

You can withdraw funds (without penalty) via the website (requires members access), post, phone or by calling into a branch.
We try to process your request the same day and we can transfer the money electronically into a bank account or alternatively post a cheque to your home, payable to you or any third party.
You can close your account at anytime.

Apply Now

Minimum savings £10 per month
Easy access with no notice or penalty
Simple saving through payroll deduction or direct debit
Flexibility to change your savings amount when required by contacting our team
Life cover at no extra cost up to age 65 (conditions apply)
Receive a return in the form of an annual dividend
Maximum monthly savings £1,000

Junior Saver

The Junior Saver helps your family prepare for the future. Any children or grandchildren living at the same address as an existing member are entitled to join and start saving.

Membership

An account that grows up fast

Receive a return on your Junior Savings Account.
The annual return is paid gross, without tax deducted.
If there is a liability to tax, it is the responsibility of the adult member operating the account.
At 18 years of age, the account is automatically changed into a main savings account (subject to ID requirements), with its own conditions, under the control of the named account holder.

Return

Withdrawals

Withdrawals. No penalty.

The adult member operates the account and can make withdrawals on young person’s behalf.
You can withdraw funds (without penalty) by post, via the website or by calling into a branch.
We can transfer the money electronically into a bank account (this may take up to three working days).
We try to process your request the same day or can post a cheque to your or the family members home address, payable to you, your family member or any third party.
At 18 years of age, the account is automatically changed into a main savings account (subject to ID requirements), with its own conditions, under the control of the named account holder.

A healthy start
Help to give a young person a sound start in life
Plan from an early age
For that first car, year out, university
Start small
Open an account with as little as £10
Easy to save
By occasional lump sums or regular deduction via pay or Direct Debit

Annual return paid gross
Without tax deducted at same rate as adult dividend
Not for profit mutual
Exclusively for the protective services
Time flies!
The perfect place to save gifted money from birthdays and Christmas
Quick & free access
No notice or penalty for withdrawal

Cash ISA

Please note

Members are advised that we are currently not offering new ISA accounts. If you already hold an ISA with us we have already written to you with changes to our ISA conditions.

Our existing Cash ISA holders are entitled to benefits such as:

Tax free saving
Ideal for the taxpayer, even outside the Personal Tax Allowance
Life cover at no extra cost
To double savings (of up to a total PCU saving of £25,000 per member) in event of a claim

Dividend calculated daily
And credited to account annually in April
Access to savings without penalty
No transfer out fees

The Police Credit Union is a member of the Financial Services Compensation Scheme. The Scheme guarantees to pay 100% of a maximum £85,000 should the Credit Union fail.

Police Credit Union is part of the Financial Ombudsman Scheme.

Improving the financial resilience for those who serve & protect

Police Credit Union Ltd. is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority & the Prudential Regulation Authority (Registered No 213306)

Police Credit Union Ltd. is a member of the Financial Services Compensation Scheme. This means a members savings are covered by the FSCS Depositor guarantee scheme up to the value of £85,000. Under the Distance Marketing Directive, you have the right to cancel your savings account within 14 days of opening without financial or other penalty.

Prepare for the future. Start saving today.

Deductions straight from your Police pay. Minimum savings £10 per month. FREE to join. Close at anytime. Quick and easy access to withdrawals Life cover at no extra cost*

Regular Saver

To join the Credit Union every member must save a minimum of £10 per month into the Regular Saver. It is completely free to join and you can change the amount you save at anytime.

Become a member today for FREE

Annual Dividend

Open an account and you’ll soon be rewarded

Withdraw your money at anytime.

Minimum savings £10 per month

Easy access with no notice or penalty

Simple saving through payroll deduction or direct debit

Flexibility to change your savings amount when required by contacting our team

Life cover at no extra cost up to age 65 (conditions apply)

Receive a return in the form of an annual dividend

Maximum monthly savings £1,000