Looking to install solar panels, improve your home’s energy efficiency or purchase an electric vehicle?
Our Green Loan offers discounted borrowing for eligible environmentally beneficial purchases, including heat pumps, insulation, double glazing, energy-efficient home improvements and electric vehicles.
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)
What you can use the Green Loan for
Green Loans can be used for a range of energy-efficient home improvements and sustainable transport purchases.
| Loans for home energy improvements | Loans for electric vehicles |
Including:
| Including:
|
To benefit from the Green Loan discounted rate, you’ll need to provide evidence of your planned purchase or project, such as a quotation, estimate, invoice or proof of purchase, as part of your application. A discounted rate is a lower rate than our member loan for the equivalent borrowing amount.
Interest Rates for the Green LoanÂ
| Amount borrowed | APR |
| Under £5,000 | 11.89% APR |
| £5,000 – £35,000 | 6.9% APR |
Use the calculator below to check your rate, monthly repayments and total borrowing costs before you apply.
Key Product Information
Loan terms and conditions can be found here and should be read prior to application.
| 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 96 months on borrowing up to £14,999. The maximum loan term on borrowing between £15,000 and £35,000 is 120 months. This loan must be repaid by your 70th birthday. |
| Amount of loan available | You can borrow up to £35,000 maximum across all unsecured lending with us. |
| Application/ Arrangement Fee | None. |
| Missed Payment Fees | None. However, charges may apply if debt management or recovery action is required. |
| Other Fees | None. |
| Early settlement | You can repay the loan, in full or in part, at any time without charge. |
| Early settlement | You can repay the loan at any time fully or partially without charge. |
Key documents:
Frequently asked questions
What can I use a Green Loan for?
Green Loans can be used for eligible environmentally beneficial purchases, including solar panels, heat pumps, insulation, double glazing, electric vehicles and EV charging points. If you are unsure you are welcome to email us to ask if your purchase would qualify at info@no1copperpot.com.
Do I need to provide evidence of my purchase?
Yes. You’ll need to provide evidence such as a quotation, estimate, invoice or proof of purchase to qualify for the Green Loan discounted rate.
Can I apply if I’m not already a member?
Yes. If you’re eligible to join the Credit Union, you can apply for membership as part of your loan application.
What interest rate will I pay?
The interest rate depends on the amount you borrow. Please see our Interest Rates section for the current Green Loan rates.
Can I repay my loan early?
Yes. You can make additional payments or repay your loan in full at any time without any early repayment charges.
Is a Green Loan right for me?
A Green Loan may be suitable if you’re planning an eligible home energy improvement or sustainable transport purchase and can comfortably afford the repayments.
Can I apply for additional borrowing?
You may be eligible to apply for additional borrowing if your total borrowing would remain within our £35,000 lending limit. Any request for additional borrowing is subject to a full affordability assessment and our lending criteria. You can find more information about top up borrowing here.
You’re covered with Life Protection
Life Protection is included with all our loans and covers you up until your 70th birthday. 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.
Cheadle Royal Business Park,
Cheshire, SK8 3GX
