The Scottish Police
Credit Union
Serving the Police Family since 1989
We are a ‘member owned’ financial services company exclusively serving the law enforcement community in Scotland.
To see if you qualify to join thousands of your colleagues and their families who save and borrow sensibly with their Credit Union, just click the “Can I Join” on the button below.
A Credit Union that Knows How...
We understand the impact that this time of year has on the already strained resources within the police. So many of us across the country don’t see the tireless efforts of the Police and the supporting emergency services during the festive period.
At SPCU, we see you. We know how stressful this time of year can be professionally and personally. Since 1989, the Credit Union has been there to support the police family reach their financial goals and 35 years later, we are proud to continue to do so.
Keep reading to see what support and services we have to offer you.
Making Saving Simple
We are here to help you get closer to that perfect work life balance by supporting your financial needs whether you need a safe and secure place to save the extra pennies, or if you need a helping hand doing the final touches to make your house a home.
Save between £10 and £1,500 each month straight from your salary (after tax) and get access to the benefits of our membership.
Change your monthly savings amount by contacting the office, we’ll handle the rest for you!
Life Savings Cover, Loan Protection and Payment Waiver are all included at no extra cost to our members! Your savings are also covered up to £85,000 by the Financial Services Compensation Scheme (FSCS).
Payroll Deduction
Your monthly savings and loan repayments come straight from your salary, no need for standing orders or manual transfers.
Once you have retired, you can set up a Direct Debit to continue your SPCU membership.
Earn a Dividend
You could earn a dividend by saving regularly with us! Each year the Credit Union returns any profit above running costs to our members – there are NO third-parties or private shareholders that will profit from your hard earned savings.
The proposed dividend for 2023/24 is 3.1% on main savings and corporate accounts! Check back after our AGM on the 3rd of December for the confirmed rate.
For more information on our dividends please click here.
24/7 Online Access
Unlike many other financial institutes, we offer full 24/7 online access to your account.
You can login through the website or download our mobile app on iOS or Android.
Life Savings Cover
As part of your membership with us, your savings are covered up to the age of 65 by our Life Savings Cover.
This product is applied at no extra cost to you and is there to provide additional financial support for your loved ones should the worst happen.
For more information please click here.
Loan Protection
All of our approved loans come with Loan Protection Cover as standard up to the age of 75 and includes cover on Pre-Existing Conditions.
Provided at no cost to you, saving you money and giving you the peace of mind that you’re not leaving a financial burden on your family.
For more information please click here.
Payment Waiver
As with our Loan Protection Cover, our Payment Waiver is included in all approved loans at no extra cost to you.
If you’re unable to work for an extended period due to illness or accident and have a loan with us, contact the office right away.
We’ll then be able to help you make a claim that could cover your loan payments for up to 18 months.
If your claim is successful, your loan repayments will be covered, however this does not cover the first 4 months of sickness.
For more information please click here.
No Early Repayment Fees
When you borrow with SPCU, there are no additional fees or hidden extras on your loan.
You can repay your loan early at any point and will only be charged interest up until the date that we receive the funds to clear your outstanding balance.
Please contact the office on 0141 771 1314 or message through your online account for more details.
Parental Payment Break
Contact us on 0141 771 1314 to pause your MONTHLY SAVINGS for up to 6 months! We only require a MATB1, birth certificate or adoption Certificate
You can also apply to pause your LOAN REPAYMENTS for up to 6 months. Please note:
- Credit Reference will apply
- Available within the first 6 months of birth or adoption
- Available to both parents
Please contact the office for more information.
The Christmas Countdown...
Christmas Saver
Save up for Christmas with our Christmas Saver! Save between £20 and £250 each month up to a maximum of £3,000.
Access your Christmas Saver between the 1st of November and 24th of December each year and give yourself peace of mind for the winter months.
Contact the office to open your Christmas Saver today.
Christmas Loan
Apply to borrow up to £1,500 over 6 – 12 months at a GUARANTEED loan rate of 12.7% APR with our Christmas Loan!
Available all year round and don’t worry if you already have a Christmas Loan, you can apply to top it up.
Loan Protection and Payment Waiver are included at no extra cost! T&C’s Apply.
Budget your Bills
Budgeting over the winter months isn’t always the easiest. With the upcoming changes to the Energy Price Cap in January, many will see their monthly bills increase.
Make sure you stay on top of your bills by shopping around for the best deal possible, ask yourself, “Could I get this cheaper by switching?”
Don’t forget about your police family membership discounts like Scottish Police Recreation Association (SPRA).
- Consider switching providers. Switching energy, broadband, and insurance providers can save you money – take advantage of the introductory offers!
- Shop around for the best deals. Compare prices and look for discounts on the food shop, utilities, and other essential items.
- Track your spending. Use a budgeting app or spreadsheet to monitor your income and outgoings. This will help you identify areas where you can save costs. Use our financial statement as a guide to help get you started – SPCU Financial Statement
- Stay informed and keep up-to-date with the latest financial news and advice.
- Take care of your mental health. Financial stress can take a toll on your mental health. Seek support from friends, family, or a mental health professional if needed.
Remember, these are just general tips. It’s important to tailor your financial plan to your individual circumstances.
Additional Resources
If you find that you are struggling this winter, please do not suffer in silence.
There are many organisations that will offer you free impartial help and advice that are completely confidential.
