Budget Account

The Budget Account is a short term facility that is designed to help you manage your finances on a day to day basis. We have designed this account for our members to fund short term items for example a bill or even a holiday. With this account you can spread the costs of an item over a few months or until you are expecting additional funds and works similar to that of an overdraft. We advise that longer term and more expensive items, for example a car, may be better suited being obtained via a loan.




Fees for the Budget Account

Account Limit Monthly Fee
£500 £5
£1,000 £10
£1,500 £15
£2,000 £20


Key Product Information

All applicants must be aged 18 or over and a UK resident. 

Interest charging information Pay a monthly fee depending on what amount you have borrowed.
Repayment information You can repay the fee on your loan by payroll deduction or Direct Debit. To see if we offer payroll deduction in your force click here
Repayment period The maximum loan term is 12 months as it is reviewed annually and must be repaid by your 70th birthday.
Amount of loan available You can set a limit of what you can borrow, up to a maximum of £2,000.
Application/Arrangement Fee No application or arrangement fees apply.
Other Fees None.
Default Fees None.
Early settlement You can repay the loan at any time fully or partially without charge.

All loans are subject to affordability and our lending criteria.
Loan terms and conditions can be found here and should be read prior to application.


Withdrawing funds

You can request withdrawals through your online account over the phone or by email.

Repayment structure

Your account will be reviewed annually and the decision of whether to renew your limit will be made with the best interests of you and your finances. All we would remind you of is that it is an annual facility and is intended to be fluctuating with funds going in and out not just drawn on and never repaid.

You’re covered with Life Protection

Life Protection is included with all our loans and covers you up to the age of 70. This does not cost you anything, it is simply another benefit of borrowing from the Credit Union and has been created purely to help our members.

Loans are protected up to a maximum of £40,000 per member. This means your loan would be cleared, ensuring your debt does not remain outstanding, subject to our terms and conditions.

All benefits are paid at the discretion of our Board of Directors. Life Protection is not an insurance policy and is not guaranteed. For more information please click here.

Additional Borrowing

If you have an existing loan with us and want to borrow extra, there are two options available. Click here to see more information.

Need help?

If you are experiencing financial difficulty, or are struggling to repay your loan with us, please contact us as soon as possible and a member of our team will be able to assist you.