Credit Union Royal Mail

About Penny Post

If you work for Royal Mail Group, Parcelforce Worldwide or the Post Office, or are a CWU or Unite member, Penny Post is the easy way to save, and borrow when you need to, straight from your pay.

Penny Post Credit Union is a financial co-operative which provides savings, loans and a range of financial services to its members.  Our members are our customers and shareholders and are at the heart of everything we do.

Want to know more about Penny Post Credit Union? Then watch our Explainer Video now.


Secure, instant messaging with members

Safely share personal information, discuss your finances, complete identity checks and send us photos of payslips and bank statements

Life Cover

Peace of mind in the event of a member’s death

The Penny Post Bereavement Fund is a FREE benefit for all Penny Post Credit Union members

Members Update

Monthly updates about our services and products.

 Penny Post is owned by and run for the benefit of members. Our members matter.

Debit Card Payments

Make online loan repayments using a Debit Card

Members can use their Debit Card online to make loan repayments using Online Banking and the secure WorldPay platform

Penny Post Roadshows

A great way to meet new Penny Post members

Throughout the year, the team visits Mail Centres, Delivery Offices, Service Centres and other locations across the country.

Who owns Penny Post?

Penny Post is owned by and run for the benefit of our members. When you join, you become a ‘member’ and a ‘shareholder’ in Penny Post Credit Union.

Penny Post is your credit union. You have an equal say in how we are run, and you receive a share of any profits in the form of an annual dividend*. All adult members are invited to our Annual General Meeting, which is held each Spring. You can make your voice heard by electing our volunteer Board of Directors at our Annual General Meeting.

*Dividends are not guaranteed. The rate payable is dependent on financial performance and voted on by members at the Annual General Meeting.

How does a credit union work?

Members’ regular savings create a “pool of money” which is used to offer affordable loans to other members. The interest earned on loans covers the credit union’s administration, with any surplus being put into reserves or paid back to members as an annual dividend.

Credit union interest rates are capped by their regulators which makes them cheaper than many other lenders. Loan repayments are tailored to suit a member’s budget, and there are no hidden costs or penalties. Credit Unions promote responsible lending and do not lend more than a member can afford to repay.

As with banks and building societies, all savings up to £85,000 are protected under the government’s Financial Services Compensation Scheme (FSCS).

Our History

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

From small beginnings, Penny Post has grown and is now proud to be one of the largest credit unions in the UK.

Penny Post App

Once you are registered for Online Banking, you can download the Penny Post Mobile App. Using the App, you can manage your money ‘on the go’, conveniently from your mobile, whenever you wish – securely request withdrawals, view account balances, transfer between accounts and view transaction history.

Find out more here


It’s so easy to save with Penny Post. Save a few £s straight from your pay and watch your savings grow. With a range of saving accounts from the Christmas account to the interest-bearing Prime account, Penny Post is here to help you save. Read more…


From time to time we all need to borrow, and Penny Post is here to help. We offer members a range of 5* award winning Personal Loans with manageable repayments straight from your pay. Read more…

Who can join?

All Royal Mail Group, Parcelforce and Post Office employees, CWU and Unite members can join Penny Post and it’s free to become a member. Family living at the same address are also welcome to join. Read more…

Online Banking

Manage your account, request withdrawals, apply for loans and so much more…

Members Quotes

“Staff always helpful. You feel like you are speaking to a member of your family.”


“The service is fantastic. Always very helpful. I can't fault them.”


"Very friendly staff, great opportunities to save or borrow money. All in all they are brilliant!"


"The automatic deductions from my wages has allowed me to save and repay loan without planning."


"Nivo is a great service & really simple to use. Very clear instructions & seems very secure with ID face recognition. The response times are very quick, impressed with the service."

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