Once a Member, Always a Member!
Posted on Apr 29, 2025Did you know that your Penny Post account is with you for life – we’re with you through it all! Once a member, always a member!
Like most Penny Post members, you probably save straight from your pay, through payroll deduction. We understand that you might leave your current employer or retire, so let’s explore what happens to your Penny Post membership.
The great news is you don’t need to leave Penny Post! Membership moves with you! All you need to do is get in touch with us and we’ll help you set up a direct debit to save into your Penny Post account, and then you can continue saving with Penny Post and reap all the benefits of being a member with us.
Whilst we’re proud to partner with your employer to offer you an easy way to save and borrow straight from your pay, we are an independent business. Penny Post is your credit union, owned by and run for the benefit of members!
Saving made simple
We make saving simple. Whether you’re saving for a summer holiday, home improvements or just for a rainy day, saving is simple with us. Whether you’re saving straight from your pay or by hassle-free direct debit, we’re here to make your saving dreams reality!
Our Christmas Savings Account allows you to save for Christmas each pay day. Saving a few ££s helps spread the cost of Christmas. By saving throughout the year and withdrawing the savings in November and December helps take some of the pressure off the festive period.
Affordable loans
From time to time, we all need to borrow, and Penny Post offers a range of loans. Members can apply for a loan of up to £25,000 with bite-sized, manageable repayments, with rates from just 2.9%
Our loans have been a lifeline to many of our members and have helped them through the highs and lows of life. Whatever the reason, Penny Post is here to help you when we can!
Free Life Cover
By continuing to save as little as £2 a week, our Free Life Cover gives up to £5,000 in financial support at the time of your death —giving your loved ones financial support when they need it most.
As a valued Penny Post member, you’re automatically entitled to this Free Life Cover, which provides:
✅ Double your savings (up to £5,000) in the event of your passing
✅ A £500 Bereavement Fund if your savings are below £250
✅ Full repayment of any Penny Post loan you may have*
For example: Mr A is a Penny Post member. At the time of his death he has £800 in savings and a £3,000 loan. Thanks to the Bereavement Fund, Mr A’s nominee would receive £1,600 (£800 savings, doubled) AND Penny Post will cancel the loan repayment.
All you need to do is make sure your Nominee is up to date, so your money goes the person you wish. Update using our secure Nivo App or contact our friendly Customer Services Team.
Annual return on savings!
Penny Post is your credit union, owned by and run for the benefit of members like you. As a member, you have a say in how Penny Post is run, and receive a share of any profit, in the form of an annual dividend*.
Don’t just take our word for it. One member said “Very friendly staff, great opportunities to save or borrow money. All in all they are brilliant!”
Saving with us is easy! You can save as little as £2 a week or £10 a month to keep your Penny Post account active and watch your savings grow.
Members are at the heart of everything we do, and we’re with you for life!
*Dividends are not guaranteed. The rate payable is dependent on financial performance and voted on by members at the Annual General Meeting.
** A payment from the Bereavement Fund will only be made if loan repayments are up to date, and there are no arrears at the time of the member’s death