Borrowing Overview

Whether you need a loan for essential bills, to fix the car, or fun things like holidays and Christmas presents, we aim to offer loans at rates of interest which are fair and reasonable for all people in our community.

We especially want to give a reasonably priced alternative to people on low and medium incomes, who may have no other choice than the high interest rates charged by doorstep and payday lenders, and some credit cards and banks.

How much we would lend you depends most of all on keeping the repayments down to a level you can really afford. Our maximum limit is £15,000 above the balance of your Shares Account.

Your track record with our Credit Union is more important than your credit score.

Our aim is to help members to gain better control of their finances. So if you have had difficulties in the past, we will work with you to help you get over them.

We know that unexpected bills can arrive at any time, so we are always willing to top-up a loan when needed.

If your circumstances change for the worse, just come and talk to us about rescheduling payments – we will always be as helpful as we can.

And if they change for the better, you can pay a loan off quicker - and pay less interest – without any penalties.

Loans may be paid out by BACS transfer to a bank or e-money account or by cheque. If you prefer, you can take a cheque to the Co-operative Bank, who will cash it for you.

Repayments may be paid by cash or cheque at our office counters and outreach service points; by Standing Order from your bank account to ours; or deducted from welfare benefits or wages paid in through the Credit Union’s bank account.