Our Christmas Loan can help you spread the cost of the festive season with affordable monthly repayments up to 10 months. You can apply to borrow up to £2,000. If you’re planning ahead for future celebrations, our Festive Fund could help you build your savings throughout the year.
All loans are subject to affordability and our lending criteria. Missing repayments could negatively affect your credit file.
Eligibility
To apply for a loan, you must:
✓ Be aged 18 or over and live in the UK or Isle of Man
✓ Be in paid employment or receive a regular income
✓ Be a serving or retired Police Officer, Police Staff member, PCSO, Special Constable, or an eligible immediate family member living at the same address
✓ Be a No1 CopperPot member (if you’re not already a member, you can apply for membership as part of your loan application)
Interest Rate of the Christmas Loan
| Annual Percentage Rate | 15.89% APR |
| Interest charging Information | The APR is fixed for the life of the loan. Interest accrues daily and is charged on a monthly basis. |
Key Product Information
| Interest charging information | Interest is fixed for the life of the loan. It accrues daily and is charged monthly. |
| Repayment information | You can repay your loan by payroll deduction or Direct Debit. |
| Repayment period | The maximum loan term is 10 months. The loan must be repaid by your 70tth birthday. |
| Amount of loan available | You can borrow up to a maximum of £2,000 using the Christmas Loan. If you already have borrowing with No1 CopperPot, the total amount you can borrow across all our unsecured loan products is £35,000. |
| Application/arrangement fee | None. |
| Missed payment fees | None. However, charges may apply if debt management or recovery action is required. |
| Early settlements | You can repay the loan, in full or in part, at any time without charge. |
Key documents:
Included with your loan at no extra cost
When you borrow from us, your loan includes Life Protection at no additional cost. For eligible members, this benefit may help clear any outstanding loan balance if you pass away before your 70th birthday.
Life Protection can cover loans up to a maximum of £40,000 per member, helping to ensure that qualifying debt does not remain outstanding, subject to our terms and conditions.
Life Protection is a discretionary benefit provided by the Credit Union. It is not an insurance policy and is not guaranteed. All benefits are paid at the discretion of our Board of Directors. For full details, please visit our Life Protection Page 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.
Festive fund
If you’re planning ahead for future celebrations, our Festive Fund could help you build your savings throughout the year.
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.
Cheadle Royal Business Park,
Cheshire, SK8 3GX
