Debt support available for Fed members

4 January 2024

Suffolk Police Federation members who are repaying high-interest debts such as credit cards, finance, or overdrafts, may want to consider consolidating their debts with No1 Copper Pot Credit Union.

No1 Copper Pot Credit Union’s consolidation loan allows members to bring together their debts up to £25,000 over a maximum term of 96 months.

Consolidation combines existing debts into a single loan.

This can be done by applying for a new loan and using the funds to repay and close other financial accounts, such as credit cards, credit agreements, and loans.

The process of consolidating debt means that you are charged one interest rate, have one monthly repayment, and, hopefully, have more disposable income.

By consolidating with No1 Copper Pot Credit Union:

• Repayment is available through payroll deduction

• Loan decisions are based on your affordability and the credit union’s lending criteria, not credit score alone

• Clear and fixed interest rates

• No early repayment or overpayment fees

• Life Protection is included up until you are 70 (T&Cs apply).

Find out more about No1 Copper Pot Credit Union’s consolidation loan.

If you are considering consolidating, No1 Copper Pot Credit Union’s debt calculator tool could help you see if it is right for you.

Care should be taken when consolidating debt as it may increase your total amount payable, or the period over which it is to be paid.

If you are unsure about what to do, members are advised to seek independent financial advice.

Make sure you read the key product information and the consolidation loan’s terms and conditions before making an application.

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