No1 CopperPot Credit Union Savings

Helping the Police Family save for the future

We aim to help the Police family lead a financially healthier and happier life. That’s why we’ve partnered up with No1 CopperPot Credit Union to bring you a range of their savings accounts.

No1 CopperPot Credit Union are one of the biggest Police credit unions in the UK offering savings and lending products to meet the needs of the Police family.

Whatever you are saving for, joining No1 CopperPot Credit Union allows you to become a regular saver.
With a No1 CopperPot Credit Union savings account you can:
  • Save up to a maximum of £1,000 per month (across all No1 CopperPot Credit Union accounts excluding the Junior Account)
  • Open a savings account online
  • Pay into your savings account through payroll deduction or Direct Debit – you can request to change your savings contribution at any time
  • Withdraw your money at anytime
  • Manage your savings account online or through the app.
You are eligible to open a No1 CopperPot Credit Union savings account if you:
  • Are a serving or retired Police Officer, Police Staff, Police Special or PCSO
  • Are related to an existing No1 CopperPot Credit Union member who works for / has worked for the Police Family. You must reside at the same address as your family member
  • Are aged 18 or over and a UK / Isle of Man resident.
  • Can save £5 a month minimum (there is no minimum monthly savings amount for a Junior Account).
Types of savings accounts available
Partnering with No1 CopperPot Credit Union we are introducing you to their range of savings accounts to meet your and your family’s needs:

  • The flexibility of this account gets you into the routine of saving each month, whilst building up savings for you to fall back on, should you ever need to.

    • You need to work for, or be retired from, a UK Police Force to apply
    • Monthly savings from a minimum of £5 to a maximum of £1,000 either as a deduction from your salary (where available) or by Direct Debit
    • You can change the amount you save at any time
    • You can withdraw your money at anytime.

  • The Family Member Account works the same way as the Member Account but allows direct family members* of a qualifying member, who are 18 years old or over and reside at the same address as a qualifying member to open a No1 CopperPot Credit Union savings account with the same great benefits as the Member Account.

    A qualifying member is someone who is employed by or has retired from the UK Police and also holds a Member Account with No1 CopperPot Credit Union.

    *Family members include, spouses, co-habiting partners, children, grandchildren, parents, guardians, step parents/children and legally adopted family.

  • The account will be in the name of the junior but controlled by the qualifying adult member. Control of the account can be passed to the junior any time from the age of eight upwards and they may change their account to adult status from age 16 should they wish to do so.

    The junior must be a child, grandchild or someone under the guardianship of a qualifying member and reside at the same address..

    A qualifying member is someone who is employed by or has retired from the UK Police and also holds a Member Account.

    The junior must be between the age of 0-17 and be related to a qualifying member.

    The junior must reside at the same address as the qualifying member at the time of application.

    • Junior Accounts do not require regular monthly savings
    • Funds can be paid into a Junior Account via payroll deduction or Direct Debit. You can make ad-hoc payments when you wish by calling the No1 CopperPot Credit Union office to pay in using a debit card, or you can submit an internal transfer through the No1 CopperPot Credit Union app
    • A Junior Account can hold a maximum of £10,000 until they reach the age of 18
    • The Junior member must always have at least £5 in their account
    • No1 CopperPot Credit Union put £5 into the account to start the junior saving.
Things to think about
  • Your eligible deposits with No1 CopperPot Credit Union are protected up to a total of £85,000 by the Financial Services Compensation Scheme in the event that No1 CopperPot Credit Union are no longer trading
  • No1 CopperPot Credit Union have the discretion to terminate your membership if minimum regular payments into the account are not maintained
  • Life Protection is included with all No1 CopperPot Credit Union savings accounts and covers you up until your 65th birthday. This does not cost you anything, it is simply another benefit of saving with the Credit Union. All benefits are paid at the discretion of the Board of Directors. Life Protection is not an insurance policy and is not guaranteed
  • Instead of an interest rate an annual savings account dividend rate is agreed each year. The savings account dividend rate is agreed at the No1 CopperPot Credit Union Annual General Meeting (AGM). The dividend is calculated daily and paid once a year, the following working day after the AGM. Dividend payments are not guaranteed.
Important things you need to know

PMGI Limited, trading as Police Mutual acts as an introducer for Number One Police Credit Union Limited who provide a range of savings accounts for members. This introduction is not regulated by the Financial Conduct Authority.

No1 CopperPot Credit Union is a trading name of Number One Police Credit Union Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number 213301. Registered number IP000078.  Registered office: Slater House, Oakfield Road, Cheadle Royal Business Park, Cheadle, Cheshire SK8 3GX.

PMGI Limited, trading as Police Mutual, is registered in England and Wales, company number 1073408. Registered office: Brookfield Court, Selby Road, Leeds, LS25 1NB.
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