POA Circulars

105 | 20.06.2013

Police Credit Union (Police CU) - Membership Update - With Two Exciting Developments

First exciting development

As of the 17th June 2013, Police Credit Union has reduced interest rates on selected loans for loan applications made by the 30th September 2013. The reduced rates will apply for the full duration of any loan advanced on such applications. For more information visit www.policecu.co.uk.

Second exciting development

I am now in a position to advise that access to membership of the Police CU, has been extended to family members living at home with POA members of the Police CU, who have payroll deduction facilities. Therefore, if your partner or children live at home with you and you are prepared to pay for their membership of the Police CU, using your payroll facility, they can also benefit from membership of the Police CU. It should be remembered that once you or your dependants become members of the Police CU, you or they can remain members for life.

Further from January 2014, access to the Police CU facilities will be made available for retired POA members and their families living at home without payroll deduction facilities. This will be possible by using direct debit facilities.

General update

Following the adoption of Annual Conference Motion 70/2013 as Finance Officer, I gave an undertaking to update the membership on the Police CU facilities available to POA members in England and Scotland.

I am able to advise the membership that since the facility was launched last year, payroll deduction facilities have been secured with both the National Offender Management Service (NOMS) and the Scottish Prison Service (SPS).

We will continue to try and achieve payroll deduction facilities for our members in the private sector and special hospitals.

To date we have 525 POA members that have joined the Police CU and over £295,000 has been lent out to our members.

As POA Finance Officer, I now attend Police CU Board meetings as an observer, with an undertaking from the Board that in the near future this will develop into a seconded seat on the Board of Directors. This seat on the Board will enable me to have a direct influence on Police CU policy and promote the interests of POA members and their families within the Police CU.

Our links with the Police CU are already proving to be hugely beneficial to our members, who are now able to access responsible, ethical saving and loan facilities. I would encourage all POA members to consider joining the Police CU.

For further information or to join the Police CU online, visit the membership benefits section of the POA website at www.poauk.org.uk alternatively complete the attached joining application form.
 


Yours sincerely

  

PETE CHAPPLE
Finance Officer