About our loans

A credit union loan has the following benefits

  • Low rates
  • Weekly and monthly repayment options
  • No fees or penalty charges for paying off the loan early
  • Save while you repay the loan (Save as You Borrow)
  • Free Life and Loan Insurance
  • Easy budgeting with fixed repayments

A credit union loan can be granted to any member aged 18 years and over. You can join and apply for a loan at the same time.

How to apply for a credit union loan

Please read about the loan products below, choosing the one that suits your circumstances.

To apply you will need your national insurance number and bank account and sortcode details.

To get the fastest decision use the Open Banking service. If you provide this access, you do not need to send in your bank statements. You will need online access to your current account, so have your log in details to hand. This will result in a quicker decision.

If you do not submit your details by Open Banking, you can also upload your bank statement. Please have a .pdf version of your most recent statement to hand.

We have provided instructions, showing how the online application process works.

If you would prefer, you can fill in a paper Loan Application Form and bring it into the office with your most recent bank statement.

Do want to take out your first loan with us?

OPPORTUNITY loan

42.6% APR
  • For 1st-time borrowers
  • Borrow up to net monthly income including benefits (£3,000 max)
  • Over 1 to 36 months

Do you want to top-up an existing loan?

OPPORTUNITY loan

42.6% APR
  • For topping-up an existing loan
  • Borrow up to £3,000 (including existing balance)
  • Over 1 to 36 months

OPPORTUNITY PLUS loan

34.5% APR
  • For topping-up an existing loan
  • Borrow £3,001 TO £5,000 (including existing balance)
  • Over 1 to 36 months

HELPING HAND loan

26.8% APR
  • For topping-up an existing loan
  • Borrow £5,001 TO £10,000 (including existing balance)
  • Over 1 to 36 months

Are you an existing member and want to take out a new loan?

OPPORTUNITY loan

42.6% APR
  • For topping-up an existing loan
  • Borrow up to £3,000 (including existing balance)
  • Over 1 to 36 months

OPPORTUNITY PLUS loan

34.5% APR
  • For topping-up an existing loan
  • Borrow £3,001 TO £5,000 (including existing balance)
  • Over 1 to 36 months

HELPING HAND loan

26.8% APR
  • For topping-up an existing loan
  • Borrow £5,001 TO £10,000 (including existing balance)
  • Over 1 to 36 months

Have you been a member for more than 2 years and have savings of more than £500?

Whether you want to take out a new loan or top-up an existing one the LOYALTY loan is the one for you.

LOYALTY loan

12.6% APR
  • For loyal members
  • Borrow up to 3x what you have in savings (£15,000 max)
  • Over 1 to 36 months

Are you an existing member and a homeowner?

HOMEOWNER loan

6.2% APR
  • For homeowner members
  • Borrow £5,000 to £15,000
  • Over 1 to 60 months

Are you an existing member and have more in savings than you want to borrow?

SECURED loan

6.2% APR
  • For members with more in savings than they want to borrow
  • Borrow £1 to £15,000
  • Over 1 to 60 months
  • No credit check!

Are you an existing member and want to repay direct from your wages (payroll deduction)?

PAYROLL loan

19.6% APR
  • For members with an employer on our payroll deduction scheme
  • Borrow £500 to £5,000
  • Over 1 to 36 months

Fequently asked questions about our loans

Working out what you can afford

Need to work out how much you can afford to repay each week or month? Try the budget calculator from the Money Advice Service:

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Business loans

For members who own businesses that need working capital or to make a larger purchase.

Our corporate loans help members grow their businesses by improving cash flow. Rates of interest for business loans varies between 6.2% to 12.7% APR depending on the following:

  • Secured loans attract a lower rate
  • Director Guarantees or charge on a personal asset will attract a lower rate
  • The level of risk attached to the loan
  • The amount borrowed - rates are better for larger loans

Contact us to find out more.