Serve + Protect Credit Union
Serve and Protect Credit Union, formerly known as Police Credit Union, is a not-for-profit financial cooperative designed to help employees in the Police, Prison, Military, Fire, and Health services save money and access affordable loans throughout their careers and beyond. It operates in partnership with various police federations, providing financial services tailored to the needs of emergency service personnel.
Membership is open to employees in the eligible services and their family members. Joining is free, and members are required to save a minimum of £10 per month into a Regular Saver account. Members can adjust their savings amount at any time. The credit union is member-owned, meaning profits are returned to members as dividends, which were 3.5% in the 2024-25 financial year.
Savings Options
Serve and Protect offers a variety of savings accounts, including:
Regular Saver – flexible monthly savings
Fixed Saver – fixed-term savings with guaranteed returns
Cash ISA – tax-free savings with guaranteed 4% AER for 2025/26
Prize Saver, Junior Saver, Flexi Saver – tailored for different needs
Savings can be deducted directly from salary, making it easy to save automatically. Deposits are protected up to £85,000 by the UK Financial Services Compensation Scheme.
Loan Services
The credit union provides ethical and affordable loans with repayments deducted from salary. Loan amounts range from £500 to £25,000, with flexible repayment periods of 6 to 96 months. Loans are subject to standard credit checks and proof of identity, and there are no early repayment penalties or hidden fees. Life cover is included on savings and loans at no extra cost.
Community
Serve and Protect emphasizes financial resilience and community support. Members’ savings help fund loans for fellow members, creating a cycle of support. The credit union also offers financial webinars, tools, and calculators to help members manage their finances effectively. It has a strong reputation, with thousands of positive reviews reflecting trust and satisfaction among members.
Key Benefits of Membership
- Free to Join (Minimum savings £10 per month)
- Easy Access Savings with deductions from your BTP pay
- 3.5% Dividend Paid 2022-23 Financial Year
- Loans of up to £25,000
- Life Cover on savings and loans at no extra cost
- No early repayment penalties or hidden fees
- Not-for-profit organisation 'owned by and run for our members'
Further Information: Serve and Protect Credit Union | Make Every Payslip Count
