Police Credit Union

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Not to be confused with the Police Scotland or the Police Service of Northern Ireland in Northern Ireland.
Police Credit Union
Credit union
IndustryFinancial services
Founded1986; 33 years ago
HeadquartersGuardians House, 2111 Coventry Road, Sheldon, Birmingham, B26 3EA
Area served
United Kingdom
Key people
  • Nigel Rabbitts (Chairman)
  • Paul Norgrove (CEO)
ProductsSavings, Loans
Total assets£63.4 Million (Q4, 2018)
Members27,727 (Q4, 2018)
Websitewww.policecu.co.uk/ Edit this on Wikidata

Police Credit Union is a credit union headquartered in Birmingham, England. Police Credit Union operates under the terms of the Co-operatives and Community Benefit Act Societies 2014 and the Credit Union Act 1979. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Police Credit Union is also a member of the Association of British Credit Unions Limited (ABCUL). As of 30 September 2018, Police Credit Union has over £63.4 million in assets, and 27,727 members, making it the largest credit union within ABCUL.


Police Credit Union was originally formed in 1986 as West Midlands Police Credit Union. The credit union was established by several employees from the West Midlands Police force. West Midlands Police Credit Union later became known as Mid West Police Credit Union in 1997, before adopting the name Police Credit Union in 2003. Merseyside Police Credit Union (established 1988) and Money Mate Credit Union (established 1997 and known as Avon and Somerset Constabulary Credit Union until 1999) transferred engagements to Police Credit Union in 2003, followed by Northumbria Police Credit Union (established 1988) and Devon and Cornwall Constabulary Credit Union (established 1990) in 2004.

In 2012, Police Credit Union expanded its membership to include all personnel working for the Prison Service and Probation Service. This made prison service officers, senior officers in prison and related service and probation officers eligible to join the credit union.

In 2015, Police Credit Union opened its membership further, to include the British Armed Forces. With the support of the Ministry of Defence (United Kingdom), Police Credit Union began to provide financial services to members of the Royal Navy, British Army and the Royal Air Force, including: Service personnel Reservists and Veterans.

Police Credit Union runs a payroll deduction scheme in conjunction with a number of providers to facilitate monthly salary deductions, including a number of police forces, Her Majesty's Prison Service and the Scottish Prison Service, and the Ministry of Defence.


As with all credit unions, membership to Police Credit Union is limited to individuals sharing the criteria set within its common bond. Admission to membership of Police Credit Union is restricted to:

  • a. an individual who follows an occupation in the following “Minor” or “Unit” Groups of the Office of National Statistics’ Standard Occupational Classification:
    • I. 331 Protective Services Occupations
    • II. 411 Administrative Occupations: Government and Related Organisations
    • III. 117 Senior Officers in Protective Services
    • IV. 244 Welfare Professionals
  • b. an individual associated with other members by virtue of receiving a pension as a result of following the occupations listed in (a).
  • c. an individual who is a member of the same household as, and is a relative of, an individual who is a member of the Credit Union and falls directly within (a) or (b) of the common bond specified above.
  • d. A body corporate, an individual in his/her capacity as a partner in a partnership, an individual in his/her capacity as an officer or member of the governing body of an unincorporated association, if the body corporate, partnership or unincorporated association is associated with the individuals in (a) or (b) above in the following way:-
    • I. It employs or otherwise engages persons who follow the above occupations and/or associated occupations
    • II. It relates to the above occupations and/or associated occupations in the following way:-
      • It is a provider of and/or employs or otherwise engages individuals involved in trade union, credit union, social and welfare, ancillary or contracted services to the above occupations and/or associated occupations.


The credit union operates through a number of local branches and regional offices in Bristol, Exeter, Liverpool, Stockton-on-Tees and Welwyn Garden City. At the end of the 2017/18 financial year, operating expenses are deducted from income and a dividend based on any surplus is paid gross to savers. In 2018, the board recommended a dividend of 1% at the Annual General Meeting.

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