Pennine Community Credit Union Ltd is an ethical not for profit financial co-operative, offering savings and loan facilities to its members across the whole of Burnley and Pendle. Started over 30 years ago, PCCU now has over 4,600 members with collective savings of nearly £2.6m and loans out of over £2.1m. PCCU is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. It is also covered by the Financial Services Compensation Scheme giving members peace of mind that their money is safe. Free life insurance is also offered on accounts in the event of a member’s untimely death.
PCCU offers various savings accounts, ranging from long term savings to Easy Access and Bill Paying accounts offering accessible withdrawals with no minimum saving value. Members can take advantage of the Christmas Club whereby savings can be made all year round but withdrawals are only permitted in November and December, meaning Christmas savings really are for Christmas. This also has the added advantage of withdrawals not being made in vouchers or for specific shops so the money can be spent anywhere a member chooses. Younger people can join too with the Young Savers account from birth right up to age 18. All saving accounts attract a yearly dividend.
Loans are available from PCCU at affordable repayment rates and are worked out on a decreasing balance so members only pay interest on what they owe. PCCU offers smaller loan values that you would only get with high rate lenders but there is no extra charge for this. There are no administration, early settlement or transaction fees to pay so you know exactly what you are paying back. Even if you have an existing loan with PCCU you can still top this up. There are many payment methods and you are guaranteed a professional, confidential service.
PCCU’s flexible, low-cost Visa Prepaid card is another way to make life easier. Ideal for weekends away or holidays abroad, members can ‘load’ money onto the card then use it to withdraw from ATMs or make purchases in person or online, get cashback or use the card abroad wherever Visa is accepted. This card has no overdraft facility so means that charges cannot be run up. The card can be automatically loaded so there is no need to come into a branch.
The Co-operative Electrical scheme is available through PCCU enabling members to purchase brand new electrical goods from a reputable company but still have the option to pay weekly, cutting out the need to use a weekly payment store and paying higher interest rates.
Members can pay into the credit union by cash, cheque, card, Benefits direct, wage deducts or direct from the bank and can use any of the three high street branches available below: