Rating based on 47 reviews

Penny Post Credit Union


  • Credit union loans up to £25,000
  • Low-interest starting from 4.9%
  • Repayment up to 80 months

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Author Penny Post Credit Union. Screenshot of Penny Post Credit Union website. [Accessed September 5, 2019]

About Penny Post Credit Union

We’re owned by members who all have a fair say in how we run.

Penny Post was launched in 1996 as a joint project between Royal Mail, the Communication Workers Union (CWC), Communication and Managers' Association(CMA) and Welfare Services.

About Penny Post Credit Union

  • Members savings are used to finance loans to other members at fair and reasonable interest rates.
  • The interest repaid from online loans is used to finance a return or members' savings.
  • Our Savers receive a yearly dividend which is based on our performance and is agreed by our annual general meeting.
  • As with banks and building societies or credit unions, all savings up to £85 000 are safeguarded under the government’s financial services compensation scheme.

Quality short-term loans

Normal saving with Penny Post Credit Union provides the security of FSC projected savings alongside alternatives for flexible and simple to access loans. Our general advice is to try and pay back a loan in as short a time as possible. The current maximum short-term loan period is set at six months and five years for the others.

Penny Post Credit Union Services

This dividend is dependent on performance during the year and is then agreed by the Board of Directors and members at the AGM.

Paybacks are on a weekly or monthly basis and members should be aware that there are some legal limitations to length and amount of personal loans

The rapid Loan

  • The interest rate on the loan is 42,6% APR
  • Up to £500 over a maximum of 6 months can be loaned.
  • Members can also hold other Penny Post loan.
  • Interest rate is fixed and your paybacks won’t vary.
  • More competitive interest rates than a payday loan it doorstep loaner.
  • No application fees or early payback charges.

Silver loan option

  • For our credit union members with 1 year Royal Mail service a Penny Post membership.
  • The interest rate is 24,9% APR.
  • Maximum loan period of 6 years.
  • Normally attached to savings giving the freedom of withdrawing savings as you wish.
  • Can apply for a top-up once you have paid offs minimum of £500.
  • No online loan application fees for early repayment charges

Penny Post Credit Union Product Details

  • Loan Type Credit union loans
  • Interest Rate from 4.9%
  • Loan Amount up to £25,000
  • Repayment 1 month to 80 months

Summary of Services

  • Quick decision
  • No early repayment fees
  • Affordable repayments

Get a quick and affordable loan with Penny Post Credit Union

Penny Post Credit Union will conduct loan applications from members for any worthwhile motive.

It is a credit union policy to meet the loaning retirement of as many members as possible, based on the available funds. Applications for fast cash loans are made on a customary loan application form.

Planning and managing repayments

Members have normally advised to pay back a loan in as short a time possible five years in currently our maximum loan term. Should a member experience difficulties in meeting payback commitments, they should immediately explain the situation to the credit union, which will treat the matter sympathetically and will be renegotiated if possible.

The gold loan

  • Get up to £15 000 over a maximum of 6 years.
  • With an interest rate of 9,9%
  • Members can apply for up to four times their savings.
  • Savings comes along with the loan.
  • A ¼ of the agreed loan stays in the savings until the outstanding loan is less, then the amount above can be withdrawn.
  • Members with 2 years Royal Mail Service or Penny Post membership.
  • No application fees or early payback charges.

The platinum loan

  • From £8000 to £20 000 over a max of 7 years can be loaned.
  • The interest rate of 4,9% APR
  • Members can apply for up to 4 times their savings.
  • For members with 5years Royal Mail Service or Penny Post membership and a superb payments history.

We also offer a seasonal loan

This loan is for spreading a cost of a yearly expense such as Christmas, a holiday or car insurance.

  • Maximum loan of £2000 over a maximum of 12 months.
  • The interest rate of 19,7% APR
  • For members with 1 year Royal Mail service or Penny Post membership.
  • Interest rate is fixed and your paybacks won’t vary.

Customer Reviews & Testimonials

April 2019

Very affordable. Their interest rates aren't high

Becky L
— Leicester —

May 2019

Penny Post is one of those friendly lenders. I always get good service from them

Seth C
— Edingburgh —

June 2019

Thanks to them I was able to pay my sister's hospital bills

Carl F
— Cardiff —

Penny Post Credit Union Contact Details

Contact Number



Physical Address

  • Penny Post Credit Union, North West Wolverhampton England WV1 1AA United Kingdom
  • Get Directions

Opening Hours

  • Monday 09:30 – 16:00
  • Tuesday 09:30 – 16:00
  • Wednesday 09:30 – 16:00
  • Thursday 12:00 – 16:00
  • Friday 09:30 – 16:00
  • Saturday – Closed
  • Sunday – Closed