Leicestershire  Police Federation


No1 CopperPot Credit Union

No1 CopperPot Credit Union offers savings, loans and mortgages exclusively for members of the police family.

To find out more or to join visit our website.


Helping Student Officers at the start of their career:

No1 CopperPot Credit Union offers products to help the Police Family financially throughout their careers. We are a not for profit organisation with our business model centred around people helping people. We continually review our products to ensure they can help our members the best way possible.

We have offered a Student Offer Loan for many years. It was created with the idea of helping Student Officers in their first two years of service. It is the cheapest unsecured loan rate we offer. Some of the most common reasons Student Officers will take out this loan is to buy a vehicle, or home improvements if they are settling into new surroundings.

This loan exists to reduce the need for Student Officers to turn to credit cards, or other high interest forms of credit. The rate is clear and set at 5.5% APR for all members, it is not representative. Therefore, the rate you see is the rate you get as it is not linked to a member’s credit score. We have a loan calculator available on our website, which shows what the monthly repayments would be if the loan were approved. This allows members to carefully decide if a loan is affordable before they apply.

We have reviewed this product and decided to increase the limit from £7,500 to £10,000. This is to give members more flexibility on what they could use the loan for. Student Officers can apply for the product within their first two years of service and make repayments direct from their payroll. The maximum repayment term for this loan is 5 years.

For more information please visit the website where you can find all information about the loan and use the loan calculator to look at potential repayments.


Click here: https://www.no1copperpot.com/loans/student-loan/

                    Student Officer Loan poster


All loans are subject to affordability and our lending criteria.


An Alternative to Overdrafts:

Since April 2020, many banks have said they’re going to charge around 40% APR on overdrafts, but temporary restrictions came into play during covid-19 whereby it was delayed by three months. It’s around now when people will start to be hit with 40% rates. No1 CopperPot have got an alternative which costs 12.68% which they are trying to raise awareness of for anyone struggling to move away from their overdraft.

For more information, please click here: https://www.no1copperpot.com/an-alternative-to-your-overdraft/


Debt Consolidation:

Debt Consolidation Booklet



Consolidation Loan:

Financial goals are different for everyone, but one of the ways that we frequently help members is by supporting them to manage their existing borrowing. Unfortunately we can't clear your debts, but we could help you to manage them in a smarter, more cost effective way with a Consolidation Loan.

Another way in which we help members is to build their financial resilience, and we find the New Year is the perfect time to do this. Whilst everyone might have their own definition of financial resilience, the most important criteria is being able to survive unexpected financial shocks or costs, such as a drop in income or temporary unemployment.

We encourage members to save to improve their financial resilience and prevent them from having to turn to high-interest credit, such as payday loans or overdrafts, but if you've already had to do so, we're also here to help you manage your outstanding borrowing.

How could consolidation help you?

There are three reasons that members consolidate their debts with us:

  • To reduce the total amount of interest paid over the duration of the debt
  • To reduce the monthly repayments to increase disposable income
  • To have a single repayment for all of their debts, straight from payroll*          *Available in 28 forces

As we don’t offer financial advice, we are unable to advise you if debt consolidation is the right thing for you. We can however, explain the process and how it may or may not benefit you.

A benefit of consolidating your debts is that it could reduce the rate of interest you are currently being charged. However, you should be aware that it may also increase the amount of interest you pay if your consolidation loan is on a higher rate than your average APR or if you extend the term over a longer period. In these cases your monthly repayment could still be cheaper than repaying your existing debts separately but you need to check that you are happy with the total amount of interest you will be paying.

With our loans, everyone gets charged the advertised interest rate regardless of credit score, so you’ll be able to find out exactly what your repayments would be before you apply. You can do this by using our loan calculator. This can help to assist you when trying to work out if it would be a cheaper alternative.