Providing Financial Services to the Police Family

A WORD FROM THE CHAIR Scottish Police Credit Union is your Credit Union and we work hard to ensure we provide you with the services and products you need and deserve. We can only do this through increasing our membership and would like to encourage all Police Officers and Police Staff to take advantage of the great benefits of saving and borrowing from one of Britain’s most successful Credit Unions. Whether you are saving for the short term, long term or any term in between, at Scottish Police Credit Union saving is easy. And with low cost borrowing for those who need it, it’s a winning combination.

WHO ARE WE? Scottish Police Credit Union Ltd is a mutual financial co-operative, which is wholly owned by its members and run by a democratically elected Board of Directors taken from the membership. Formed by police officers in 1989 we are now one of the biggest Credit Unions in the UK today and provide financial services to officers and staff and the wider Police family in Scotland. Being a member owned organisation means:-

With salary deduction in most cases, you can sit back and watch your savings grow, safe in the knowledge that it is securely invested with an ethical and responsible mutual organisation, which is owned and run by its members.

 our members – that could be you – are the most important consideration in everything that we do.

And of course as a member - owned organisation, it’s you and not external shareholders who share in the profits we make.

 Only our members share in the profits that we make – not external shareholders.

Benefits of Membership · COMPETITIVE DIVIDEND ON SAVINGS · LOANS AT LOW RATES OF INTEREST · NO HIDDEN CHARGES OR FEES · PAYROLL DEDUCTION IN MOST CASES

 and it means you are at the very heart of your Credit Union. The only Credit Union in Scotland to offer financial services exclusively to police employees and their families, Scottish Police Credit Union is YOUR Credit Union.

· FAMILY MEMBERS INCLUDING CHILDREN CAN JOIN

Regulation and Security

· EXCLUSIVE TO THE POLICE FAMILY IN SCOTLAND

Your Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Complete the membership application available on our website and join over 9500 of your colleagues currently enjoying the Credit Union difference. A warm welcome awaits you. Austin Dorrian Chairperson Scottish Police Credit Union Ltd

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FINANCIAL SERVICES COMPENSATION SCHEME We’ve got your savings covered We all want to make sure that should the financial institution your money is saved with fails you don’t loose your hard saved cash. That’s why your savings with your Credit Union are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to £75,000. For joint accounts, each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £75,000 each (making a total of £150,000). The £75,000 limit relates to the combined amount in all the eligible depositors' accounts with the credit union, including their share of any joint account, and not to each separate account. As the maximum limit you are able to hold with SPCU at any one time is £25,000 your savings are fully protected up to the current limit of £75,000, should your Credit Union fail. For further information about the scheme (including the amounts covered and eligibility to claim) please refer to the FSCS website (www.fscs.org.uk) or call 0800 6781100.

WHO IS ELIGIBLE TO JOIN Who can Join ? All serving police officers and police staff working in Scotland, as well as retired officers and staff in receipt of a police pension, are eligible to join.

This includes serving and retired Police officers and staff from all 8 legacy forces, Police Scotland, Defence Police, Civil Nuclear Constabulary and British Transport Police as well as the former SPSA, the Scottish Police Authority and employees of National Crime Agency. Membership Account Available to all serving and retired police officers and police staff the membership account is your access to all our other products and services. Family Membership The family membership is available to all family members residing with you at your home address and who are aged at least 16 years old. Junior Accounts Its never too early to start saving and our Kidzplus account enables you to open an account for your children. Available to children aged from 0-15 the account can be transferred to full adult membership from the date of the child’s 16th birthday. A complete list of all eligible police personnel can be found on our website at www.scottishpolicecu.co.uk. Entrance Fee On joining your Credit Union a non - refundable entrance fee of £5 will be deducted from your first payment. All entrance fees are donated to our charity, Scottish Police Credit Union Foundation in the support of other Police charities.

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SAVING WITH US

SAVING WITH US

Membership Account Everyone benefits from regular saving, it allows you to work towards your financial goals and gives peace of mind for emergencies. Regular savings can be difficult to achieve, but at your Credit Union most of our serving police officers and staff can make their savings and loan payments by salary deduction, making it simple and affordable. For those members who are unable to access salary deduction, payments can be made by Direct Debit. Membership Saving with Scottish Police Credit Union is easy and with our Family Membership and Kidzplus Accounts we have a savings account for everyone, making it a great way for all the family to save together with their Credit Union. As a member of Scottish Police Credit Union, all we ask is that you save a minimum of £10 per month/ 4 weeks to your membership account to keep your account active. If you wish to save more, you can save up to £250 per month / 4 weeks during the first two years of membership. Dividend As a member of a credit union you are not just another customer, but a co-owner of your own financial organisation and will normally receive an annual dividend on your savings which is paid directly into your membership account.

Saverplus A second savings account only available to existing members, the Saverplus Account allows you to deposit up to £200 a month over and above anything you save in your membership account and is an ideal way to save for annual events such as Christmas, holidays or car servicing. The withdrawal of funds is restricted to 4 withdrawals in any 12 month period and the account has a maximum balance limit of £2400. Upon reaching the limit we will return a value equivalent to 12 months payments to the nominated bank account you provide upon opening the account. E.g saving £100 a month upon breaching the maximum balance limit we would return £1200.

If you would like to open a membership account for yourself or your spouse or partner you can apply online here. Alternatively adult and children's’ memberships and Saverplus accounts can be opened by downloading an application from our website or by calling 0141 771 1314 and requesting an application form.

We have been able to return an average dividend of around 3% on your savings over the last 5 years however previous performance does not guarantee future performance. Dividends are not guaranteed and will depend on the surplus made during the preceding financial year. Tax Please note dividends are paid gross of tax and any tax liability is the responsibility of the member.

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BORROWING WITH US

BORROWING WITH US

Taking out a loan can be a confusing experience. At Scottish Police Credit Union, we pride ourselves in providing simple and ethical loan products that always reflect the total cost of borrowing.

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We don’t use headline grabbing representative rates that bear no resemblance to the rate you are actually offered - at your Credit Union the rate you see is the rate you get and if you keep saving with us you could qualify for a discount of up to 2.5% on our standard loan rates.

Leisure Loan - available to all members who have made at least one payment by salary deduction or direct debit you can borrow up to £10,000 with our dedicated Leisure Loan.

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Winter Loan – borrow up to £1000 and take up to 12 months to pay back. The winter loan is ideal for Christmas.

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Flexiloan - The Flexiloan is a revolving credit account and allows you to select a credit limit in multiples of £500. and with a maximum limit of £2500 you must pay at least the minimum payment applicable to the limit chosen, however if you wish to pay more you can.

Remember you must be a member before being able to borrow. Loans available include 

· Welcome Loan – a £200 interest free loan available to all new police employees including officers and staff of Police Scotland and Scottish Police Authority, British Transport Police, Defence Police and Civil Nuclear Constabulary.

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· Express Loan – a £250 loan available to all new members immediately upon joining.

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· Standard Loan –available to all members who have made at least one payment by salary deduction or direct debit you can borrow up to £25,000 with our Standard Loan .

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· Car Loan - available to all members who have made at least one payment by salary deduction or direct debit you can borrow up to £15,000 with our dedicated Car Loan. · Home Improvement Loan - available to all members who have made at least one payment by salary deduction or direct debit you can borrow up to £20,000 with our dedicated Home Improvement Loan. Car Repairs Loan - available to all members who have made at least one payment by salary deduction or direct debit you can borrow up to £3,000 with our dedicated Car Repairs Loan.

Our latest loan rates are set out below. Information on our discounted loan rate scheme can be found on the next page.

Loan Value

Standard Rate

Up to £1000

17.9%

£1001 - £2499

12.7%

£2500 - £4999

10.9%

£5000 - £7499

7.9%

£7500 - £14999

6.9%

£15000 - £25000

7.1%

BORROWING WITH US While you are borrowing from us you will be unable to access any savings balance in your membership account less than or equal to your outstanding loan balances, however as a reward for borrowing rather than withdrawing your savings we operate a discounted loan scheme where by leaving your savings you can access a discount on the standard loan rate.

Discount available on loans up to £14,999

BORROWING WITH US Signing your Loan Agreement At the time of application you will be given the opportunity to receive your loan agreement through R –Post, our password protected electronic signature system. Alternatively we can send your paperwork to the secure inbox in our members area where you can download the paperwork to sign and return by post. You must be registered for online account access to be able to receive this service.

You can of course elect to receive your forms by post to sign and return. % shares to loan

Discount on standard rate

0-10%

Standard rate applies

11% - 25%

0.5%

26% - 49%

1%

50% - 74%

1.5%

75% - 100%

2%

Discount available on loans up to £14,999 % shares to loan

Discount on standard rate

0-10%

Standard rate applies

11% - 25%

0.5%

26% - 49%

1%

50% - 69%

1.5%

70% - 84%

2%

85% - 100%

2.5%

Loan Approval If you can provide us with a mobile telephone number we will notify you by text to let you know your loan has been approved and your loan funds have been sent to your nominated bank account. There is no charge for this service.

Transfer of Funds We use the Faster Payments System for the transfer of funds for all our loan fund transfers and aim to have your funds in your nominated bank account the same day your loan is approved.

PEACE OF MIND

MONEY ADVICE

Other Loan Features

Managing Debt

We all need insurance in some form, and most of us hope we don’t need to use it; but what do you do when something goes wrong, and how do you plan for your family’s future?

As an ethical and responsible lender, we take great care when approving loans to ensure that they are affordable. However, many people find themselves in a situation where they have accumulated too much debt or their circumstances have changed and they can no longer afford to keep up repayments.

At Scottish Police Credit Union all our loans come with life protection cover and all but our special loans come with payment waiver cover through our insurance partners Cuna Mutual Group all at no cost to you.

That is why we introduced our debt counselling service, which is available to all Credit Union members. The service is provided free of charge by a qualified debt counsellor and is carried out in the strictest of confidence. We do not inform your employer if you access this service.

Loan Protection & Life Savings Cover (LPLS) means that in the event of your death or permanent disablement we can make a claim and your next of kin can have peace of mind that there is no outstanding loan left to pay. Terms and conditions apply and are available on request.

If you are starting to find things are getting more difficult financially, then don’t delay in doing something about it. Here are some helpful tips to get you started. What you need to do · Contact your Credit Union - we are here to help

Payment Waiver means that in the event of an accident or illness

that results in you having to be off work for more than 4 months you can activate your payment waiver cover. This could mean your payments would be met for up to 18 months.

Both LPLS cover and Payment Waiver are features of our loan products and therefore cost you nothing, they are just two of the ways of showing our commitment to ethical and responsible lending and delivering the products our members deserve.

· Face up to your situation and use the help available to you · Get in touch with creditors immediately to explain your difficulties · Give priority to those debts that may see you lose your home or utilities What not to do · Don’t ignore the problem - it won’t go away · Don’t be bullied or threatened in to making promises you cannot keep · Don’t keep borrowing more money to pay off your debts · Don’t pay for money advice that is widely available for free · Don’t be afraid to ask your Credit Union for help - call 0141 771 1314 and ask to speak to a money advisor

WEBSITE

WEBSITE

Our website is a great source of information on all our products and services but it also gives you an easy and secure way to keep up to date with your Credit Union accounts.

Registering for online access Registering for online access is easy - just log on to www.scottishpolicecu.co.uk and click on the Register button at the top of the homepage and submit your details. Once your details have been verified you will receive an email confirmation that your account has been activated and you are ready to go.

Your Credit Union on the go If you like to access your accounts on the go then download our free SPCU app available for both Android and IOS platforms. Enter SPCU mobile in the Google play or App store to download or scan the applicable QR code below.

Android

IOS

Your money online As well as being able to apply to join and borrow online, once you are registered for online access you will be able to withdraw funds from your savings accounts or from your Flexiloan account any time, day or night. Social Media If you are an avid user of social media then send us a friend request on Facebook or follow us on Twitter and we will follow you back. You will find our accounts on here:

Facebook: Scottish Police Credit Union Limited

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Twitter: @ScotsPoliceCU

READY TO JOIN Applying for membership? Applying to join Scottish Police Credit Union is simple. Join online by visiting our website at www.scottishpolicecu.co.uk and clicking the JOIN NOW icon. Complete the membership application and provide your passport or driving license number and submit your application. Please note we may have to contact you for further documentation if we are unable to identify you. If you would prefer to complete an application manually please download and print a form from our website or call 0141 771 1314 to request one by post. Completed forms should be returned to Scottish Police Credit Union Ltd, 163- 165 Baillieston Road, Glasgow, G32 0TN.

SIGN UP TODAY and you will be joining over 9000 of your colleagues already enjoying the great benefits of saving and borrowing together with their Credit Union. Important information for the following groups:· Family · CNC Officers & Staff

FREQUENTLY ASKED QUESTIONS How much can I save?

•The minimum amount you are required to save is £10 per month/4 weeks, however you cannot save more than £250 per month/4 weeks for the first 2 years of membership.

Can I have more than one membership account?

•You can only have one membership account, but we do have a second savings account known as Saverplus which you can save up to £200 a month/4 weeks.

Do I need to save for a specific time?

•No, this is not a fixed term savings plan, but you must save on a regular monthly or 4 weekly basis.

Can I make additional deposits to my account?

•Yes, up to £1000 or 50% of your savings in your membership account whichever is the greater in any 12 month period.

If I close, will I get all my money back?

•Yes, except for the non - refundable joining fee of £5 which we deduct from your first payment and after any outstanding loans have been cleared first.

Can I leave my membership account inactive?

•You can request that your account becomes inactive subject to agreement for up to 12 months before being subject to dormancy procedures. We reserve the right to charge a dormancy fee of £5 per year.

What if I have a loan?

•Your account cannot be made inactive if you have an outstanding loan balance. If you are having difficulty repaying your loan please contact us immediately

· MOD Officers & Staff · All Retired Officers & Staff Postal applications from all of the above groups must be accompanied by original documents confirming the applicant’s home address and identity. Copies will only be accepted if they have been authenticated by a Credit Union representative or board member who has had sight of the original documentation. Please contact us on 0141 771 1314 and we will endeavour to provide you with the names of a representative or board member in your area. The following documents are acceptable to confirm identity: Passport, Photographic Diving Licence The following documents are acceptable to confirm address: Current bank statement, council tax or utility bill. Please note mobile phone bills are not acceptable. All original documentation will be returned by Recorded Delivery

For full details on all of the above please see our website at www.scottishpolicecu.co.uk or contact our staff on 0141 771 1314