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The latest news and details on PCS Credit Union will be made available from this page. Check back regularly for updates.

UPDATED: 3rd October 2018
To improve security all payments are made using BACS so can take up to 4 days to reach your normal bank account from which we collect your monthly direct debit. If you wish to use another account you will need to notify us in writing. After checking the validity of the new bank account details it will be added to your account and should appear in the list of accounts when you complete the withdrawal application on line.

Changes at the PCS Credit Union

As of 1st October 2018 the PCS Credit Union is now part of 1st Class Credit Union.  Emails will be sent to members with more information in the near future, however in the meantime all contact with the credit union, deposits, withdrawals and loan applications continues as it was before.

Telephone contact is still to the credit union number 0207 924 2727 Menu Option 9 and available between 11am and 2pm.   Outside of these hours there is an answering machine service which is dealt with the following morning.

Email is still the preferred method of contact at

Christmas Savings Club Funds

The funds from Christmas Savings accounts have now been transferred to members saving accounts and are available for withdrawal.  Please remember requests must be made by before 29th September, otherwise they will be processed after 3rd October.

Dates for Christmas 2018

The office will be closing on Friday 21st December.  Please note the below dates should you wish to make any loan applications or withdrawals from your PCS Credit Union account.

For guaranteed payment before Christmas:

Signed Loan Agreements must be received by Wednesday 19th December

Applications for withdrawals must be received by Wednesday 19th December

Loan Applications (With full supporting documentation)

To enable applications to be assessed, decisions given, Loan Agreements sent (where accepted) and returned to us by the date above must be received by Wednesday 12th December

Unable to accept Debit Card payments from 30 August 2018

Sadly due to circumstances outside our control we will be unable to accept debit card payments from 30 August 2018.  We can still accept payments direct to the PCS Credit Union bank account.  Should this change we will update the website and our Facebook page. 

New Loan Application Privacy Policy 

To enable us to process new applications we request you confirm you have read our new Privacy Policy.  To confirm you have read and accept these terms please email the office on submission of your loan application.

Contacting the Office 

Please Note : You will be required to confirm your PCS Credit Union membership number in ALL communication with the PCS Credit Union office (both email and telephone communication).  We will not be able to help with any queries without this information.

Whilst every effort will be made to make ONE telephone line available  from 1100 to 1400 on weekdays (closed weekend and bank holidays) there will be occasions when this will not be possible and calls will be diverted to an answerphone that is checked at the start of each working day where you can leave a message, which if it includes your Credit Union (not PCS) membership number we will aim to respond to as quickly as possible. The most reliable way to contact us is by email to but please remember to quote your Credit Union membership number.

PCS Credit Union will not tolerate abuse of its staff or volunteers by any means in the performance of their duties and will consider it a serious offence which may result in expulsion

Online Portal

To increase its progress towards becoming self sufficient the Credit Union will change its focus to providing services through the Online Portal (Internet Banking). Please ensure you are registered so that you can make paperless applications for Loans, Withdrawals and can view your account or download a statement at your own convenience.

The Board are implementing a programme of continuous improvements to the Online services and as more become available may charge to process hard copies to reflect the additional costs incurred.

Changes to the Annual Membership Fee and Minimum Holdings

Because of increased costs and reduction in investment income received, the Directors have decided to make the following changes

  • With immediate effect the minimum holding in a savings account will increase from £1 to £5. Each £1 will still constitute a share and the monthly minimum saving amount remains at £5.

  • From 1 October 2017 the annual membership fee has increased from £1 to £2. This will be deducted automatically from savings accounts in mid-October. Please ensure you have sufficient funds in your account as if there are insufficient funds the account will go into deficit and interest may be charged daily at the highest loan rate, presently 3% monthly (42.6% APR). Under Rule 15C any member without one fully paid up share ceases to be entitled to the benefits of membership.

Deficit Accounts and Debt Recovery

With immediate effect any accounts that go into deficit will be charged interest at the highest prevailing loan rate and instigate court action to recover the debt. The Board has taken this step with great reluctance but has to balance the needs of the individual member with those of all the members. However if you contact the CU when you realise you are experiencing difficulties or respond immediately to any contact from us we will do all we can to help you.

Financial Services Compensation Scheme

PCS Credit Union is covered by the Financial Services Compensation Scheme (FSCS). If we fail, the Financial Services Compensation Scheme (FSCS) protects your eligible deposits up to the deposit protection limit. An eligible depositor is currently entitled to claim up to £85,000.

Your eligible deposits held with us are added up in order to determine the coverage level. If, for instance, you hold eligible deposits in both a monthly savings account and a Christmas savings club account these amounts will be combined. Currently the maximum total savings amount that you can hold with PCS Credit Union is £15,000 therefore you would be repaid the full amount.*
For further information about the scheme please refer to our savings page, the FSCS website or call 0800 678 1100.

*Exclusions do apply.


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