Pennine and Affinity Credit Union have recently merged after PCCU extended its common bond to include the county of Cumbria.

This venture hopes to provide a sustainable and prosperous credit union for people living and working across the Cumbria region, whilst also creating a larger and financially stronger credit union for all account holders. It was an honour for PCCU to be approached in April 2021 after being chosen because of its financial and business strength, and the success it has achieved over the last 39 years. Through careful consideration and adequate due diligence PCCU believes this is of the best interest of its account holders and the communities we currently serve.

What does the merger mean for Cumbrian members?

A possible dividend on savings. Pennine’s financial results in recent years have allowed PCCU to pay a 1% dividend on savings. Please note that whilst your savings are safe in your name, in your account, they will still be used to allow the people of Cumbria to access affordable loans just as they have since 1994.
The possibility of a loan interest rebate. Pennine’s financial results last year allowed us to pay a 6% rebate to borrowers.
Affordable Loans available up to £15,000.
PCCU’s £500 Family Loan & Savings Scheme. We’ve helped thousands of families with the Family Loan & Saving Scheme. Complete a user friendly application online – No need for full credit checks. A brilliant alternative for members who typically use higher cost lenders. Click on the buttons below to read more about the different loan products we offer and apply online today.

PCCU's Affordable Loans £500 Family Loan & Saving Scheme

Loan applications processed and paid to members within 24 working hours.
Increased operating hours. Pennine staff are available 9.30 – 4.00pm, 5 days per week.
Manage your account via telephone, Online Accounts Area, email, and NIVO.
Share withdrawals in members’ bank accounts within 2 working hours.
Additional free to open savings accounts, including the Christmas Club which allows you to save throughout the year, but withdrawals can only be made during November and December. This means that Christmas Savings really are just for the Christmas period. Last year over 900 members saved £230,000.
Free life insurance; £15,000 loan insurance and £5,000 savings insurance (subject to rules).
Engage prepaid card.
Improved member engagement to the whole of Cumbria.
No annual membership fee.

PCCU sees this merger as an opportunity to expand our financial services offering to more people who require ethical savings and affordable loans through its advances in technology that have been heightened due to the recent coronavirus pandemic and our developments in to Preston. During this period, PCCU have observed a shift in the way a lot of our members choose to transact with us through the use of our online Online Accounts Area and Nivo app. Therefore, we feel these online services, through continuous developments, will provide a valuable, efficient and thorough service to our Cumbrian membership.

There will be changes

After careful consideration Pennine feels that it is not financially viable to operate branches in Cumbria and feels that the introduction of efficient technology will provide greater value for account holders, allowing Pennine to service a larger area more thoroughly. Therefore, Affinity has closed down the branches within Cumbria in order to allow staff to vacate the offices.

What happens with your Affinity Credit Union account

Now the merger has been completed, you should have received a letter from us which will include your new membership number. You do not need to do anything unless you are a cash depositor. All transfers such as direct payments, standing orders, and loan repayments will occur automatically and will be eligible to use the full range of services and products that Pennine offers.

If you are a Cumbrian member who had previously relied on the branches for depositing then please make yourself known to PCCU. A member of our team will contact you to discuss alternative options.