We like to keep our members updated on everything going on at No1 CopperPot Credit Union, here you can find a round up of our news.


Let’s talk about leasing a car

  Leasing a car The number of ways to finance a new car is continually growing, with lease (also known as Personal Contract Hire (PCH)) agreements becoming increasingly popular. The process of leasing a car involves signing an agreement with a broker for the long-term hire of a new vehicle. When the agreement ends, you… Read more »

Let’s talk about premium bonds

  Premium bonds: what are they and should I buy them? Premium bonds were introduced by National Savings and Investments (more often known as NS&I) to encourage people to save. They were established in 1956 and are now owned by approximately 23 million people in the UK! You don’t get paid interest, but instead there’s… Read more »

Let’s talk about savings tax

  Many of us try to put some hard-earned savings aside each month to save for the future. But it’s important to be aware of how they’re taxed. I’m going to try and help to make things clearer, so that you have a better understanding of how taxes are applied to your savings. Many people… Read more »

Let’s talk about the new 95% LTV mortgage scheme

  The government has backed a new mortgage scheme which was introduced on the 19th April. The new scheme aims to turn “generation rent” into “generation buy” by helping make purchasing a home more affordable for aspiring homeowners. The pandemic has made it difficult for people to get onto the property ladder as it has… Read more »

Let’s talk about taxes

  In the UK most people have their tax automatically removed from their salary each month however this is not the case if you are, for example, self-employed. The amount of tax you pay will depend on how much you earn per year. This is because the government has different band rates for each earning… Read more »

Let’s talk about making up for lost time

  Lockdown has been a difficult time for many of us. Slowly but surely restrictions are being lifted and normal life will hopefully resume in the not-too-distant future! You may be thinking about making up for lost time, maybe you are planning to see family and friends or have a shopping spree. The pandemic changed… Read more »

Let’s talk about junior savings

  Let’s talk about saving for your children We understand the importance of saving and believe that the earlier an individual starts to save, the better. Encouraging children to save can help them to understand money and create good habits early on. If you were to save £20 a month for 18 years, you would… Read more »

Stamp Duty holiday extension

  What is Stamp Duty? Stamp Duty Land Tax (SDLT) is applied to some residential property purchases in England and Northern Ireland. Ordinarily, there are different tax rates for different purchase prices ranging from 0% (up to £125,000) to 12% (in excess of £1,500,000). About the Stamp Duty holiday The Stamp Duty holiday was first… Read more »

Let’s talk about payday lenders

  The decline of short term lenders Short-term lenders, often known as payday lenders, are financial companies that can lend applicants small amounts of money quickly and generally over a shorter period of time. You may have heard of a few infamous short-term lenders such as Wonga, Sunny, Lending Stream and Quick Quid. You may… Read more »

What is a credit union?

  Credit unions first appeared in the UK in the 1960s, but the first credit union in the world is thought to have been set up in 1852. They were set up with the idea of people helping people, and still operate this way. Credit unions are member owned, not for profit cooperatives that operate… Read more »