Members may apply to borrow up to £25,000 and the maximum rate of APR on our Standard Loans can be found in table 1 below.
Remember we do not use representative rates, the rates are applicable to the amount you borrow and all successful applications get the rate we quote, therefore while we cannot guarantee your loan will be approved we can guarantee the rate you will be charged.
| Loan Value | Standard APR Rate |
| 17.9% | |
| £1001 - £2499 | 12.7% |
| £2500 - £4999 | 10.9% |
| £5000 - £7499 | 7.9% |
| £7500 - £14999 | 6.9% |
| £15000 - £25000 | 7.1% |
Please note all applications are subject to approval and we strongly recommend you have your finance in place before committing yourself to any purchase.
If you already have an existing Standard Loan you can refinance your loan at any time by making a new loan application for the amount you need. Any new funds would be added to your existing loan balance and would be charged at the rate applicable to your new outstanding loan balance.
Payment waiver is our great loan insurance cover and comes as a feature of your Standard Loan, at no extra cost to you.
If you are unable to work due to an accident or sickness you can claim on your payment waiver insurance to make your loan repayments for up to 18 months (terms & conditions apply). This means no arrears build up, your credit rating is not affected and your loan continues to reduce while you are off work. Ask about Payment Waiver when applying for your Standard Loan.
Interest is charged on a daily basis and on the reducing balance each month therefore you pay more capital and less interest each month as your loan reduces.
There are no administration fees for setting up your loan. If you want to clear your loan early we do not charge you for that either.
Your Standard loan is insured at no cost to you, covering death and total & permanent disability giving your loved ones peace of mind. (Terms & Conditions apply)
Your Standard Loan is covered by Payment Waiver, at no cost to you, covering your payments in the event you are off work due to accident or sickness. (Terms and Conditions apply)
Repayment periods can be up to 5 years for loans under £10,000 and up to 10 years for loans £10,000 and over.
To apply for a loan, simply complete the online application in the secure members area or call 0141 771 1314 where our friendly staff will talk you through the loan application process.
To access our online loan application, you will require to be registered for online services, if you have not done so already please click here.
If you wish to cancel your loan application, just let us know you no longer wish to proceed and it will be removed.
However, if your loan has been approved and loan funds have been allocated to your loan account, the folllowing conditions apply under the Distance Marketing Directive.
Loan applications not completed in person at our office can be cancelled in writing within 14 days of signing your loan agreement. Any funds paid to you must be returned within 30 days of cancellation.
Loans completed in person at our office cannot be cancelled under the Distance Marketing Directive. If you change your mind, you simply repay the full amount owing, together with any interest due, as agreed.
Have you checked out our social media accounts @ScotsPoliceCU - just click the icons below. It's a great way to keep up to date with what's going on at YOUR Credit Union.
Saving with your Credit Union is very easy as most of our members can make payments through salary deduction. For those who cannot, payments can be made by direct debit.
Loan Protection, Life Savings Cover and our innovative Payment Waiver Scheme are just some of the ways "We've got your back"
| Day | Open | Close |
|---|---|---|
| Monday | 0900hrs | 1700hrs |
| Tuesday | 0900hrs | 1700hrs |
| Wednesday | 1000hrs | 1700hrs |
| Thursday | 0900hrs | 1700hrs |
| Friday | 0900hrs | 1600hrs |
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This is a rating based on your saving and borrowing behavior with us. Any credit scores or ratings you have with other financial institutions are irrelevant here.
The more you save, the better you are a regular repayemnts, the more products you take out with us all effect your score.
Defaulting on repayments may effect your scrore in a negative manner.
Before completing your application we must make you aware of the important information below. Please take the time to read this information before submitting your application. We recommend you print a copy for your own records.
Note: Your browser may open the pdf in a new window, close the new window when you want to return to this page.
| Key Facts | Download |
| FSCS | Download |
| Terms and Conditions | Download |
Before completing your application we must make you aware of the important information below. Please take the time to read this information before submitting your application. We recommend you print a copy for your own records.
Note: Your browser may open the pdf in a new window, close the new window when you want to return to this page.
| Key Facts | Download |
| FSCS | Download |
| Terms and Conditions | Download |
If you have an existing loan and would just like to "TOP IT UP" then please choose the loan type you already have, e.g. Home Improvement, and then apply for the top up amount you require.
If you need help filling in the form, each section has one of these handy "help" buttons.
If you are still unsure even after reading the help information, please call 01417711314 or email info@scottishpolicecu.co.uk
Back To FormPlease complete your personal details including your full name. Please ensure you provide your email address if you wish to be kept up to date with any changes to our products and services.
Note: To automatically find your address, enter your postcode and click the 'Find address' button. You will need to manually add your house number/house name to the beginning of the address.
Back To FormIf you are employed, please enter your current employer's name and postcode. If you are employed by one of our Payroll Partners then you will just need to select the name of the employer from the list provided.
Reg No./payroll no. is only needed for those employed by our Payroll Partners to help with administration of payments.
If you are retired, unemployed, or a student then please enter Other for Employment Status.
Back To FormPlease enter the name and address of the person you wish to be your beneficiary of any funds held in your account at the time of your death.
Back To FormIf you wish to apply for the Express loan please complete this section and enclose a postal order for £10 payable to SPCU to open your account. Alternatively if you prefer we can contact you and take your payment by debit card by choosing "Debit card Payment" in the "I wish to make my initial £10 payment by" box and providing a contact telephone number.
Back To FormSavings – All members must save a minimum of £10 per month/4 weeks and should enter the amount you wish to save at part (a). If you are not taking advantage of the Express Loan all you now need to do is sign and date your application.
If you are taking advantage of the Express loan and paying by salary deduction, add your savings and loan payments together and enter this amount at part (b). If you are paying by direct debit use part (c)
If you work for Civil Nuclear Constabulary, Ministry of Defence Police, or you are retired it is not possible to make your payment by salary deduction. Please complete the direct debit mandate provided and indicate which of the four collection dates you would prefer. Please also read the Important Information section below with regards additional paperwork we require from you.
Please ensure you have signed the application form and the direct debit mandate.
If you are not able to pay by salary deduction your membership application must be accompanied by original documents proving your identity and residence.
Copies will only be accepted if they have been authenticated by a Scottish Police Credit Union representative or board member who has seen sight of the original documentation. Please contact us on 01417711314 and we will provide you with the names of representatives or board members in your area.
The following documents are acceptable to prove identity: - Passport or Photographic Driving Licence.
The following documents are acceptable to prove residence: - current bank statement, council tax or utility bill. (internet copies or mobile phone bills cannot be accepted)
All original documentation will be returned to you by Recorded Delivery. There is no charge for this service.
Back To FormAll members must save a minimum of £10 per month/4 weeks.
The amount you enter in the savings field will be in addition to any repayments you make on loans.
Once you have selected the amount you wish to save, select the method of payment from the drop down. Further instructions and fields will appear on screen depending on the option you choose. These new fields will need to be completed.