Loans

Loans from Stirling Credit Union

From £200 to £15,000. From a few months to 5 years. All our loans are open to all members and our lending Policy is designed to treat all members equally,  fairly and ethically. Our lending rates are quite competitive with high street banks, and much (really much) cheaper than doorstep or payday lenders.

When you borrow from a Credit Union your loan interest creates the income that keeps our doors open to all. If we earn a profit on interest receipts, we pay it out as a dividend.

Your loan is written off if you die before your loan is cleared (exceptions apply).  

How many lenders can claim all of that?

Standard Loan

Standard loan

  • For anyone who is prepared to commit to regular savings
  • Borrow from £200 to £2,000
  • Loan period: 6 to 36 months
  • Rates from 19.56% APR (1.5% per month)
  • No qualifying membership period
  • Pledge to save at least £10 per month

Apply Now! or click here to download an application form. 

 

Loyalty Loan

Loyalty loan for existing members

  • For members who can pledge some of their savings
  • Borrow from £500 to £10,000
  • Loan period: 6 to 60 months
  • Rates from 9.38% APR (0.75% per month)
  • Must have been a member for 3 months
  • Pledge to retain 1/3 of the amount borrowed in share account 

Apply Now!or click here to download an application form.

 

Secured Loan

Secured loan

  • For members who can pledge the amount borrowed
  • Borrow from £500 to £15,000
  • Loan period: 6 to 60 months
  • Rate 6.18% APR (0.5% per month)
  • Must have been a member for 3 months
  • Pledge to retain the amount borrowed in share account 

Call us or click here to download an application form 

 

Handy Loan

Handy loan for the unexpected

  • For members who need a small, short-term loan
  • Borrow from £200 to £1,000
  • Period 3 to 12 months
  • Rate 26.82% APR (2% per month)
  • Must have been a member for 3 months
  • No pledge required
  • May already have a loan, provided loan repayments are current

Call us or click here to download an application form 

Further Information

Click here to download more information about the loans we offer. 

Affordability

When assessing loan applications we access credit reference information, we assess affordability using national average data, and we consider your loan repayment and saving history with us. However, it is primarily your responsibility to ensure that you can afford loan repayments. Sometimes we may recommend a longer loan repayment period to reduce your monthly repayment and if you find you can repay your loan faster you can clear it without penalty.

Repayment
Loans are repaid through your payroll savings, or by Standing Order, or from a savings deposit from DWP.

If your circumstances change and your loan repayments are at risk you must let us know immediately: we may be able to help you to get things back on track, without penalty. However, please note, we will pursue loan arrears to the fullest extent permissible under the legislation. A member who fails to repay a loan is automatically disbarred from membership.

 

fscs kesho

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 214247
© 2016 Stirling Credit Union

Sitemap / Terms & Conditions / Privacy