Police CU signs Armed Forces Covenant
01 Jun 16
Police Credit Union has become the latest signatory to the Armed Forces Covenant.
The Armed Forces Covenant is a promise by the nation ensuring that those who serve or have served in the Armed Forces - and their families - are treated fairly.
The signing took place at the credit union’s Head Office in Birmingham where Police CU Chief Executive Peter Evans and Colonel Maybery, Deputy Commander of 11th Signal & West Midlands Brigade, co-signed the Covenant (pictured).
Police CU was originally set up to serve the whole of the police family including serving and retired police officers, police staff and members of their households. They have now expanded to serve the wider protective services sector.
Due to the Government's commitment to the Armed Forces Covenant, Police CU has recently been granted authority by the Ministry of Defence to provide credit union services to Armed Forces personnel including Reservists, their families and veterans in receipt of an MOD pension.
Peter Evans said: “As one of the largest credit unions in the country, Police Credit Union has a long history in supporting police officers and more recently, prison officers, probation officers and now Armed Forces personnel. Signing the covenant not only demonstrates, but furthers our support to the Armed Forces community through every aspect of our business.
“It became apparent that those who work so hard to keep us safe, both at home and abroad, should be able to access easy and affordable ways to save and borrow. This helps to tackle an issue that has caused disadvantage and disappointment to some service members.”
Police CU offers an easy alternative to banks, building societies and indeed payday lenders, by offering a range of savings and loan facilities. Armed Forces personnel can now save and pay off loans via payroll deduction, taken directly from an individual's salary or pension at source. Armed Forces personnel receive the same high level of service, savings products and loan products as all the credit union’s members.
Peter added: “Armed Forces personnel, including their families, have to make many sacrifices keeping us safe in addition to facing challenges accessing financial services products that others take for granted. We want the Armed Forces community and the nation to know that we will ensure no member is disadvantaged due to the nature of their service life.”