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Support and Wellbeing

At SPCU, we’re more than just a financial institution. We’re committed to helping you achieve your financial goals and improve your overall well-being.

Whether you’re looking to save for the future, manage your debt, or simply improve your financial literacy, we’re here to help you every step of the way.

Here you’ll find resources and information to help you manage your finances, improve your financial health, and build a brighter future.

What is Financial Wellbeing?

Financial wellbeing is a multifaceted concept that encompasses more than just having money. It’s about having a healthy relationship with your finances, feeling secure and in control of your financial situation, and having the peace of mind that comes from knowing you can meet your financial obligations and achieve your goals.

At SPCU, we want all our members to feel good about their money. That means having enough put aside and the right cover for when things don’t go to plan, so you can cover your essentials without worry.

It’s about feeling in charge of your finances – knowing where your money is going, saving for the future, and making smart choices about any financial products you might need. We want to give you clear and simple information to help you with this.

Being financially well also means being able to handle unexpected money problems and get back on your feet. We aim to offer services that are right for our members and give you good value.

We want you to feel confident in managing your money, setting your sights on what you want to achieve, and taking steps to get there. Ultimately, it’s about having peace of mind when it comes to your finances, so you can focus on what matters most to you, without unnecessary stress.

We’re here to look out for your best interests and help you build a more secure financial future.

How can SPCU Help?

In times of financial hardship, a credit union can be a valuable resource. We offer a variety of financial services that can help members manage their finances and weather difficult times.

If you are experiencing financial hardship, it is important to seek help from a qualified financial professional. A credit union can be a great resource, but it is important to understand your options and make informed decisions about your finances.

Payment Waiver Cover

What is Payment Waiver?

Designed to protect our borrowers when they need it most, Payment Waiver is available on all of our loans approved since 14th January 2014. 

Loan Protection Cover

What is Loan Protection Cover?

As a responsible lender we take great care to make sure that you can afford to repay any loan we grant. But what if the worst happens and you are no longer around to make the payments?

Family Payment Break

What is a Family Payment Break?

Members on maternity, paternity, or adoption leave may be eligible for a short-term loan payment break of up to six months.

Financial Support

Tell me more

Financial hardship can arise from a variety of circumstances, such as job loss, illness, or unexpected expenses, leading to a struggle to meet basic needs.

Bereavement Support

Tell me more

During some of the most difficult times for our members and their families, we want to make sure that we can help in anyway that we can.

Budgeting Hints & Tips

Tell me more

Creating a budget is a great way to take control of your finances. Tracking spending, creating goals and using budgeting tools can help reduce financial stress.

The Specialist Money Advice Service

We’re proud to announce our partnership with the Scottish Police Federation (SPF) and Citizen’s Advice Bureau (CAB) in bringing you The Specialist Money Advice Service.

The Specialist Money Advice Service is more than just a way to help you navigate the difficulties of clearing debt. 

The team at CAB can help you maximise your income, making sure that you are receiving any grants or benefits that may be available to you. CAB will also be able to support you should you be facing financial difficulty due to circumstances other than debt.

This service is FREE, IMPARTIAL AND CONFIDENTIAL.

Who can access the Advice Service?
Anyone that is part of the following can access this service by either referral through SPCU or SPF, or self referral.
  • SPCU Members
  • SPF Members
  • Serving Police Officers/Staff based in Scotland
  • Retired Police Officers/Staff
There is no age limit on who can access the Advice Service.

You can access this bespoke service by contacting the following:

Scottish Police Credit Union Ltd
Tel: 0141 771 1314
Email: customer.care@scottishpolicecu.co.uk

Motherwell & Wishaw Citizen’s Advice Bureau
Tel: 07741 735 422
Email: SPCU@MotherwellCAB.casonline.org.uk

If you are a member of the Scottish Police Federation (SPF), please contact your local representative who can refer you via SPCU, or contact CAB directly through the details above.

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The service provided by CAB is independent of Scottish Police Credit Union and/or Scottish Police Federation and any personal data provided by the individual to CAB remains strictly confidential and is processed in accordance with (UK) GDPR and the Data protection Act 2018.

CAB will not share any information provided by the individual in the provision of the service with Scottish Police Credit Union, Scottish Police Federation or employer, including but not limited to Police Scotland.

Any complaints with the delivery of the Specialist Money Advice Service should be made to CAB.

Get in touch, we're here to help.

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You can call us at the office to discuss your account, potential loans, or for any questions you may have, on 0141 771 1314.

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Mon: 9:00am – 5:00pm

Tue: 9:00am – 5:00pm

Wed: 10:00am – 5:00pm

Thurs: 9:00am – 5:00pm

Fri: 9:00am – 4:00pm

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The Legal Stuff

Insurances

Terms & Conditions

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Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority
and the Prudential Regulation Authority – FRN 213597. Details can be found www.fca.org.uk and www.bankofengland.co.uk

Made in Scotland

Payment Waiver

The Scottish Police Credit Union Limited (SPCU) launched the first payment waiver protected loans in Scotland with ethical insurers CMutual.

Payment Waiver is available on all of our loans approved since 14th January 2014. In addition to these loans, members who have a Budget Booster approved after 14th January 2014 will also benefit from payment waiver cover. 

Unlike most loan protection plans, we don’t charge you extra for this benefit. It’s built right into your loan because we believe in supporting our members.

If you’re unable to work for more than 120 consecutive days due to illness or accident and have a loan with us, contact the office right away. We’ll then be able to help you make a claim that could cover your loan payments for up to 18 months. If your claim is successful, your loan repayments will be covered, however this does not cover the first 4 months of sickness.

This means your regular payment will go back into your monthly wage, your credit score is not affected, and your loan balance will continue to reduce while you are off sick.

If you have previously been off from work due to illness or an accident since the 14th of January 2014, we may be able to submit a backdated claim. Please contact the office.

*Terms & Conditions apply. Additional information and documentation may be requested in support of any claim made.

Contact us about Payment Waiver

Loan Protection Cover

All of our loans come with Loan Protection Cover as standard up to the age of 75 and includes cover on pre-existing conditions. Provided by our trusted insurance partner CMutual who offer insurance products exclusively to Credit Unions.

Loan Protection Cover is provided at no cost to you, and gives you the peace of mind that you’re not leaving a financial burden on your family.

For full details on our Loan Protection Cover please click here.

Contact us about Loan Protection

Family Payment Break

Our Family Payment Break applies to members with any outstanding loan balance and must be requested within the first six months following the birth or adoption of a child.

The maximum term you can request a payment break for is 6 months and you may be asked for documentation in support of your request.

For full details on our Family Payment break click here.

Contact us about a Family Payment Break

Financial Hardship

The stress and anxiety associated with financial hardship and debt can take a toll on mental and physical health. It’s important to remember that there are resources available to help individuals navigate these challenges. 

Whether you’re dealing with debt, struggling to pay bills, or simply need advice on managing your finances, help is at hand.

  • Citizens Advice Scotland (CAS) provides free, impartial, and confidential advice on a wide range of issues, including debt, benefits, housing, and employment. They can help you understand your rights and options, and provide practical support to improve your financial situation.
  • StepChange offers free, expert debt advice and can help you create a debt management plan. They provide online and phone support to help you take control of your finances.

There are also others organisations you can approach such as:

  • Money Talk Team (CAS)
  • National Debtline
  • Shelter Scotland
  • Scottish Welfare Fund
  • Turn2us
  • Local Council Support

You may find other organisations by searching online, joining online groups, speaking with your local council or visiting our Useful Links page.

If you are struggling with your SPCU payments please contact the team on 0141 771 1314 or by emailing using the button below. We may be able to help.

Email Us

Bereavement and how we can help

When you lose a loved one, it can be hard to know where to start with their financial affairs. At SPCU, we understand the unique challenges that families face during this difficult time and hope that we can bring a small amount of peace by making our insurance process as straightforward as possible.

Notifying us of someone’s passing:

We may have already been notified of a member’s passing, in which case our team will contact the listed beneficiary on the account to help begin our insurance process. However, anyone can notify us on behalf of the beneficiary, next of kin or executor.

You can find guidance on how to register a death on the UK Government website: Register a death – GOV.UK

Once registered, to help ensure all important organisations are notified, you can use the Tell Us Once service provided by the UK Government and the Death Notification Service to notify other financial institutes.

Dealing with the SPCU account:

For guidance on dealing with a deceased member’s SPCU account, please click here.

If you have any questions or need help talking over the insurance process with SPCU, please give us a call on 0141 771 1314, visit the office during opening hours or click the button below to email us. We are more than happy to help you with anything you may need.

Email Us

Budgeting Hints and Tips

Income and Expenditure

Navigating the current financial climate requires careful budgeting. Start by tracking all income and outgoings meticulously using a notebook, spreadsheet, or app. It can be helpful to categorise spending into:

  • Essential (rent/mortgage, bills, food, essential transport, debt)
  • Non-essential (entertainment, eating out, unused subscriptions, impulse buys).

Calculate your disposable income by subtracting your total expenses from your total income (after tax) to understand what you have remaining each month. 

If your disposable income is negative, you may wish to review any non-essential expenditure and see if there is anything you can reduce or cancel. 

You can download our Financial Statement to use as a starting point by clicking the button below. Please note that this should only be used as a guide.

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Disposable Income – In essence, your ‘take home pay’. It is money remaining after any taxes, pension contributions, etc. have been deducted from your salary. 

Energy and Bills

It can help to reduce spending by focusing on energy efficiency especially in today’s financial climate.

Try making small changes around your home to help save the pennies on your energy bill:

  • Switch off unused lights and appliances
  • Wash clothes at lower temperatures and air dry

Consider the Energy Saving Trust for free, impartial advice on saving energy, heating your home and much more.

If you are due to renew your accounts it is worthwhile to shop around and make sure you are getting the best deal possible. Look for introductory offers that come with discounts!

Household Groceries

Smart food shopping is crucial if you want to reduce your monthly food bill. Planning meals in advance will help you stay on track. Use your meal plans to help create shopping lists and only buy what you need.

It’s helpful to compare different supermarket prices to make sure you are getting more for your money. Check if your supermarket or shop has a membership option or discount card that you can sign up for!

TIP: Check the unit price on items when comparing different brands. Most items will come with a price per weight and you may be paying more for less!

Try to buy in bulk for non-perishables and shelf stable food. If you are bulk buying fresh meats or vegetables, consider cooking meals in advance and freezing them!

It is important to note the difference between best before or best by dates and use by dates when reducing food waste.

  • Use by dates are there for safety and you should not consume food past this date.
  • Best by or Best before dates are for quality – some foods may be safe to eat after this date however the quality of the food is not guaranteed.  

Check the Food Standards Agency (FSA) website for guidelines on getting the most out of your food and safe ways to reduce food waste.

Helpful Organisations

Other ways to help save money on your day to day life is checking out any police family memberships you may be eligible for!

There are some free and paid membership subscriptions that will give you access to discounts, days out and rewards programs. 

Before signing up to any subscription, it is important to consider the cost vs the benefit. It is only worthwhile if the discounts and rewards you receive outweigh the cost of your membership.

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If you are struggling to find somewhere to start budgeting or to review your finances, there are free, impartial money advice services you can contact. These organisations can offer advice on

  • Budgeting and money management
  • Debt advice and repayment options
  • Benefit entitlements to maximise your income
  • General financial planning

Organisations like MoneyHelper, Citizens Advice Bureau, StepChange Debt Charity and National Debtline are only a small handful of those you can approach.

You can also speak to your local council for advice on benefits and housing.

 

Download our Financial Statement