We know that terms and conditions aren’t the most exciting thing to sit down with a cup of tea and read. However, they are an important part of being an account holder with Northern Community Bank.
We have two types of terms and conditions – general and loan. The general terms and conditions cover savings accounts and being a member of Northern Community Bank. They give information on payments of dividends, statements and the Financial Services Compensation Scheme.
The loan terms and conditions are for any account holder who has a loan with Northern Community Bank. They cover things such as your cancellation rights, making payments and loan duration.
As we have made some changes over the past 12 months – such as the introduction of the new app, we have had to make updates to our terms and conditions. To make it easier for you though we have used red to highlight the removed text and blue represents the replacement text.
General Savings Terms and Conditions updates
These terms and conditions are available online on https://www.Northern Community Bank.co.uk/terms-and-conditions/ or can be requested at any time. You can request these by calling us on 01282 691333, emailing us at enquiries@Northern Community Bank.co.uk, or requesting them in person. If you require alternative format of the document, please contact enquiries@Northern Community Bank.co.uk.
1.1 Introduction
1.1.1 These terms and conditions relate to all PCCU savings accounts.
1.1.4 A privacy notice is available at https://www.pccu.co.uk/privacy-policy/ and can be requested at any time.
1.2 Membership
1.2.2 There is a one-time £1 account fee for all adult members.
1.2.2 Your membership will automatically start when you have deposited £1, which could be withdrawn at the end of the membership.
1.3 Payment of Dividends/Interest
1.3.3 Membership must be held at the time of the dividend being paid to be eligible for it. That means any members withdrawing from membership before it is paid will forfeit any dividend that may be payable.
1.3.4 Any dividend shall be declared at joining the credit union during the financial year accounting year will be entitled to a proportional part of the dividend on any shares savings held for less than the full year. For new Members who join after the financial year end accounting year end but before that year’s AGM, the dividend will be paid after the following year’s AGM.
1.3.6 Dividends will be paid to active members. Members with status Dormant, deceased, left or bad debt accounts will not accrue dividend or loan interest rebate.
1.3.8 Dividend and loan interest rebate, which is paid by the end of March, will be withdrawable in the same financial year. it is paid.
1.4 Tax
1.4.1 Dividends and interest are paid gross of any tax but are not tax-free. You must therefore declare your dividends and interest payments on your tax return. You can find some more information on https://www.gov.uk/tax-on-dividends
1.5 Rules around different types of savings accounts:
Please note that the right to set off overrides all other saving deposit rules. For further explanation, see point 2.10.
1.7 Dormant Accounts
1.7.1 If your account became dormant Northern Community Bank will request a form of identification to reactivate your account.
1.8 Statements
1.8.1 You can request a free statement of your account at any time, which will show your savings/ loan balance, repayments/ deposits and interest paid. Statements can also be viewed anytime in the member’s area, which you can find at https://pennine.cuaccount.com/login/. These will no longer be issued to members periodically.
1.9 Transactions and Payments
1.9.3 Funds that are paid into the Credit Union by Standing Order or benefit will only be available for you to withdraw on the same day as receipt following processing.
1.9.3 Standing Orders, Payroll Deductions, Continuous Payment Authorities or Benefits that are received by 8am on the working day will be available for you to withdraw at least by the end of that day. Payments received after 8am will be available on following working day.
1.9.6 Any increase or decrease to Payroll payment need to be made via employer employee. Signed Payroll Deduction Amendment Mandate may be requested with any change.
1.9.7 Withdrawals for payments that have been made by card within 30 days will may be paid back to the same card.
1.9.8 Card payment can only be made up to the value of £500 towards savings deposits. Any amount will be accepted to settle the loan balance.
1.9.9 Card payments can be cancelled within 14 days of transactions occurring. Funds will be paid to the same card and fees may be charged.
1.11 Financial Services Compensation Scheme
1.11.1 PCCU is covered by the Financial Services Compensation Scheme (FSCS). This means that your savings are protected by the scheme up to £85,000 per member. For more information about the compensation scheme please visit www.fscs.org.uk.
1.11.1 FSCS can pay compensation to members of a credit union when it fails. Set up by parliament and funded by the financial services industry, FSCS is a completely independent and free service. This means FSCS can pay back any money you hold with a failed community bank, up to its compensation limit of £85,000 per person. For more information about the compensation scheme please visit https://www.fscs.org.uk/.
1.12 Proof of Identity
1.12.2 Northern Community Bank can request carry out an Identification and Verification (ID&V) check at any time of membership.
1.12.3 Northern Community Bank will carry out screening of membership which will be completed by a 3rd party scanning company semi-annually, this will search for matches on the Sanctions list, Adverse Media and any Politically Exposed Persons.
1.13 How we will use your information.
1.13.2 A privacy notice is available at https://www.Northern Community Bank.co.uk/privacy-policy/ and can be requested at any time.
1.17 Making a Complaint
1.17.1 If you wish to make a complaint you can contact us by telephone on 01282 691333, in person and in writing on Northern Community Bank, 54 Manchester Road, Nelson, Lancashire, BB9 7EJ, by email enquiries@Northern Community Bank.co.uk or through our Nivo app. We will always do everything we possibly can to sort out the problem, however if you are unhappy with the outcome, you can make an official complaint. We’ll send you a written acknowledgement within three working days and keep you informed on our progress until your complaint has been resolved. The maximum timescale for a final response is 8 weeks and if for any reason it takes longer, we will keep you fully updated. For more information about our complaints procedure please visit https://www.pccu.co.uk/complaints/
If you do not feel you have been treated fairly you have the option to refer to the Financial Ombudsman Service. For more information about the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk.
1.17 Life Cover Terms and Conditions
1.17.1 Discretionary
Life Protection is automatically provided with membership at no extra cost, to members from 0 up to the age of 80.
It may double the balance of your savings and clear any outstanding loan balance you may have with us, subject to the following criteria:
– Savings are covered up to a maximum of £5,000 across all accounts with 100% cover for funds deposited up to the age of 64 years and 364 days and 25% cover for funds deposited between the ages of 65 to 79 years and 364 days. Loans are covered up to a maximum borrowing of £7,000 across all loans held per Member up to the age of 80.
– There is a pre-existing medical condition clause that is included as standard. The terms are as follows:
Each new savings deposit or loan agreement that you make is governed by a six-month pre-existing medical condition clause.Benefit will not be paid on your outstanding savings or loan balance if death results from a pre-existing illness or injury for which medical advice, consultation or treatment was received within six months prior to making the savings deposit or loan.The pre-existing medical condition clause lasts for a period of six months from the start date of each savings deposit or loan. If you were to die six months or more after the date of the savings deposit or loan, this would not apply.Please note each case is subject to terms and conditions of CMutual Insurance, which can be found on https://www.cmutual.co.uk/terms-conditions.
– Exclusions:
War: Life cover benefits may not be payable if a Member is injured, becomes ill or dies resulting from an insurrection of any war, declared or undeclared, or service in the armed forces of any country.Suicide: Benefits are not payable with respect to any savings deposit or loan paid into a Member’s account if a Member commits suicide, while sane or insane, within six months from the date of the savings deposit.Loans with no repayments within 3 months prior to death.
1.17.1 Life Protection is automatically provided with membership at no extra cost to members up to the age of 80.
1.17.2 Savings are covered up to a maximum of £5,000 across all accounts with 100% cover for funds deposited up to the age of 64 years and 364 days and 25% cover for funds deposited between the ages of 65 to 79 years and 364 days.
1.17.3 Loans are covered up to a maximum borrowing of £7,000 across all loans held per Member up to the age of 80.
1.17.4 There is a pre-existing medical condition clause that is included as standard. The terms are as follows:
- Each new savings deposit or loan agreement that you make is governed by a six-month pre-existing medical condition clause.
- Benefit will not be paid on your outstanding savings or loan balance if death results from a pre-existing illness or injury for which medical advice, consultation or treatment was received within six months prior to making the savings deposit or loan.
- The pre-existing medical condition clause lasts for a period of six months from the start date of each savings deposit or loan. If you were to die six months or more after the date of the savings deposit or loan, this would not apply.
- Suicide: Benefits are not payable with respect to any savings deposit or loan paid into a Member’s account if a Member commits suicide, while sane or insane, within six months from the date of the savings deposit.
- Please note each case is subject to terms and conditions of CMutual Insurance, which can be found on https://www.cmutual.co.uk/terms-conditions.
1.17.5 Exclusions:
- War: Life cover benefits may not be payable if a Member is injured, becomes ill or dies resulting from an insurrection of any war, declared or undeclared, or service in the armed forces of any country.
- Loans with no repayments within 3 months prior to death.
1.18 Online/App Access
1.18.1 Online/app access may be only available for active members. To access your online account via the website or the Northern Community Bank app, you will need to activate your account first.
1.18.2 Online/app access is not available to junior accounts; however, statements can be requested anytime but only with the authorisation of the beneficiary.
1.18.3 To allow Northern Community Bank to provide automatic withdrawal facilities, greater restrictions for withdrawals received through the app and online access apply. The limits apply to each individual savings account and work using rolling data. This means that if you withdraw from your account at 9 am, you will not be able to process another automatic withdrawal until the following day at 9 am. Likewise, if you withdrew your weekly limit on Wednesday, you won’t be able to withdraw from this account until the following Wednesday. See the restrictions outlined in the table below:
- Regular Savings/ Easy Access/ Bill Paying/ Savings 2/ Christmas Club

*Christmas Club yearly maximum number of withdrawals is limited to 24.
1.18.4 If you wish to withdraw a larger amount or more frequently than detailed below, please get in touch with Northern Community Bank.
Loan Terms and Conditions
2.1 Cancellation
2.1.1 Your right to cancel starts the day after the date you received the funds and lasts for 14 days after that.
2.2 Making payments.
2.2.2 Your loan repayment date may be changed in accordance with date of payment received.
2.2.5 A regular savings repayment is required alongside your loan repayments. This varies between £1.00 per week and £5.00 per week depending on the loan product.
2.3 Rules around loan products:
2.3.1 Family Loan:
- If you have taken the Family Loan product, you will be asked to sign into your Government Gateway account and change
to sign a letter to be sent to the HMRC arranging foryour Child benefit payment to be paid to your Northern Community Bank account.This may take up to 6 weeks to be completed and these delayed payments will be added to the end of your loan term, extending this where necessary. - When we are waiting for your child benefit to be paid to us daily interest charges will be occurring. You may make manual payments via card or bank transfer in order to avoid this.
- Loan repayments on family loan must be paid fully or partly via child benefit on this product unless an alternative method of payment is agreed with the Member Solutions Team.
2.3.2 Family Loan Plus:
- To be eligible to apply for Family Loan Plus member would need to complete all stages of a family loan and need to be an active member for the last 12 months.
2.3.3 Standard Loan
- May be a subject to creditworthiness check.
- Various forms of repayments are available.
2.3.4 Payroll Plus
To be eligible you need to be employed by one of our payroll partners. A list of payroll partners can be found on https://www.Northern Community Bank.co.uk/payroll-partners/
2.4 Eligibility
2.4.1 Family loan applications are accepted 90 days after the previous family loan application.
2.4.2 Family loan + applications are accepted 180 days after the previous family loan + application.
2.4.3 Standard loan applications are accepted 90 days after the previous standard loan application unless stated otherwise.
2.6 Credit Check
2.6.1 Northern Community Bank reserves the right to run a credit check on any loan application, consent will be obtained prior.
2.9 Payment difficulties
2.9.1 Please contact us at the earliest possible opportunity should you find yourself in financial difficulty and struggling to make repayments on your loan. Our Member Solutions Team will discuss your personal circumstances and review your repayment options. More information can be found here https://www.Northern Community Bank.co.uk/cant-pay-loan/
2.9.3 Failure to get in touch and set up an appropriate repayment plan will lead to arrears being recorded on your credit file, affecting it negatively. This will make it difficult for you to obtain credit in the future.
The full Loan Terms and Conditions can be found here.