Page 28 - Insight edition 1 2017

A CREDIT UNION How we can help you - PCU benefits:

Available to: serving
policecu.co.uk OF YOUR OWN and retired police £250 - £25,000 Borrowers who fall into
loans for any purpose
difficulty benefit from direct
contact with their credit unions
officers, police staff,
Life cover** on
prison officers,
armed forces and savings and loans No fees or early
family members* at no extra cost settlement penalties
Police CU is one of the largest credit unions in the country
Credit Unions are a cross between a co-operative and a bank.
Since PCU was formed in 2003: Credit Unions - the big numbers:

BANK THE CREDIT UNIONS PCU established
DIFFERENCE
? 40,000 70%

credit unions in of the Irish
population
Can be privately owned & pay dividends to shareholders. Owned by their members. 80 countries belongs to a
Can borrow money to lend to customers. Only lend the money that members have saved.
More than credit union
£200m lent
Anyone (with a good credit rating) can open an account. Only people sharing the ‘common bond’ can join. around the world

Credit Unions ethos Financial welfare:

Set up by, and serving, people with a common 33%
interest, such as where they live or work. of people develop mental health issues Thank you and your
They offer loans, savings and sometimes bank where debt is a struggle team for the help, advice and
accounts, and aim: PCU survey results way you processed my
20% Payroll facility via Survey Monkey application. I will recommend

of employees take time off work due to implemented in 30 forces January 2014 - January 2017 the PCU to my colleagues.
To encourage debt worries (including POA, NAPO & MOD) 99% of 332
members to respondents would John M, POA member.
November 2016.
save regularly 58% recommend taking out
a loan with PCU
of enquiries† report severe anxiety and
depression as a result of pay day loans 95% of 65
recommend saving in
3 in 5 respondents would I've never taken a
To help members were receiving More than Membership grown from a PCU savings account loan out before but it's been
in need of financial advice medical so easy and fuss free, I
and assistance treatment 91% 10,000 to 26,000
as a of people reported will recommend PCU to my
‡
result of family and colleagues.
To provide loans debt problem health problems from
at competitive rates DEBT Nina L, Police Officer.
Source: 2017 November 2016.
Chartered Institute of
Payroll Professionals

POLICE CREDIT UNION LIMITED
Call 0845 241 7504 or 0121 700 1243 Email liverpool@policecu.co.uk /police.cu @police_cu
Head Office, Guardians House, 2111 Coventry Road, Sheldon, Birmingham B26 3EA
Loans, subject to status and credit checks, are available to members 18 or over. Police Credit Union is a member of the Financial Services Compensation
Scheme. The Scheme guarantees to pay 100% up to a maximum £75,000 of savings, should the Credit Union fail. Police Credit Union Ltd is authorised
*Family members living at the same address as the main member are eligible to join PCU. **PCU provides life cover for members (subject to terms and conditions). The Police Credit Union Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulatory
by the Prudential Regulation Authority and regulated by the Financial Conduct Authority & the Prudential Regulation Authority (Registered No 213306).
This cover is provided at the Credit Union’s discretion and is at no additional cost to the member. † to Step Change debt charity. ‡ interviewed by the Legal Services. Authority. (Registered No. 213306). PCU are protected by the Financial Services Compensation Scheme up to a maximum of £85,000 per member. Further
information can be obtained from their website at www.fscs.org.uk. A copy of the information sheet and exclusions can be provided on request.

28 Insight Magazine of Merseyside Police Federation - Issue 1 of 2017 • www.merpolfed.org.uk Insight Magazine of Merseyside Police Federation - Issue 1 of 2017 • www.merpolfed.org.uk 29