Joining Forces Credit Unions

Who is it for?

All military personnel (Regulars and Reservists), veterans, family members and Defence civil servants.

What is it for?

Set up in 2015, Joining Forces Credit Unions (JFCU) offers an alternative to commercial banking, running on a not-for-profit basis – owned by and run for the benefit of its members.

The JFCU provides competitive dividend rates and affordable loans from:

• Serve and Protect Credit Union

• First Defence Finance

• Forces Finance

All three credit unions are fully regulated and all deposits protected under the Financial Services Compensation Scheme, up to £85,000.

Repayments can be made straight from military pay or pension, and for civil servants via direct debit – rather than payroll deduction.

What do I get?

Serve and Protect Credit Union 

Serve and Protect (formerly the Police Credit Union) offers affordable options to:

• Save with a range of accounts to suit your needs.

• Borrow responsibly throughout your career and beyond.

Once you become a Serve and Protect member, any family members you live with can also join the community.

Sign up for free today and receive £10 to jump-start your savings! Simply quote: PROMO10JF.

Find out more: Serve and Protect Credit Union

First Defence Finance

First Defence Finance is a dedicated service from one of the UK’s largest and longest-standing credit unions, Plane Saver.

Supporting financial well-being and resilience, First Defence Finance offers straightforward savings accounts, affordable loans, payroll deduction options, exclusive member discounts, and ongoing free access to financial guidance. Find out more: First Defence Finance   

Forces Finance 

As part of the London Mutual Credit Union, Forces Finance provides:

• Rescue Loans: Receive up to £400 with an instant decision – offering a fair alternative to commercial payday lenders who can charge significantly higher interest rates.

• Homeowner Loans: Borrow up to £25,000 payable over 84 months at an interest rate of 4.9%APR – whether you’re looking to make essential home improvements, or to buy a new car.

• Gold and Platinum Loans: If you’re in full-time employment and have a strong credit history, you could be eligible to borrow from £5,000 to £7,499 at 6.9% APR, repayable over 6 to 60 months, or from £7,500 to £15,000 at 5.9% APR, repayable over 12 to 60 months.

In addition to loans, with Forces Finance you can open a current account that includes access to online banking, an easy mobile app and an overdraft with interest calculated at 42.6%. You can also open an account to make saving for Christmas and holidays more manageable.

Find out more: Forces Finance

Next Steps