Savings Secured Loan

Savings Secured Loan

If you are looking to borrow less than your Member Savings Account balance, why not consider securing your loan against your savings?

Our Savings Secured loan allow you to benefit from lower interest rates with no need for a credit check.

You can borrow up to the maximum value of your savings between £100 and £25,000 as long as you leave the minimum £1 in your savings.

Your savings will continue to be eligible for Dividend and you'll make affordable monthly loan repayments until your loan is fully repaid.

You can only secure a loan against Member Savings. ISA accounts money saved in pots are not eligible to be used as security for this loan product.

Secure your loan against savings

Borrow between £100 and £25,000 with fixed monthly repayments over a choice of terms up to 7 years with the balance secured against your Member Savings Account..

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Loan amount

£7500

APR

Loan term Monthly repayment Total repayment
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Loans are only available to qualifying members aged 18 and over and you must save at least £10 a month in addition to your loan repayment. All loans are subject to you meeting our lending criteria and other terms and conditions apply.

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Why borrow with us?

Borrowing from us is easy. You can apply via our handy mobile app or on our website. 

If approved, we'll pay your loan into your nominated bank account and you'll make your repayments via your regular credit union Direct Debit or Salary Deduction. 

Loans are subject to status and meeting our lending criteria. You must also remain a member throughout the term of your loan and save £10 to your Regular Savings account each month. 

If you have difficulty repaying your loan, contact us to discuss your options.

  • Flexible loan amounts

    Depending on your loan requirements and eligibility, borrow from £500 - £25,000.

  • Competitive Interest rates

    Transparent and competitive market rates, which won’t increase after application.

  • No early repayment fees

    If you wish to pay off your loan early, you won’t be charged early repayment fees.

  • Fixed Repayments

    Choose your loan repayment over a flexible term.

How to apply

Become a member

- Complete our online application to join.

- Create your Login details.

- Receive our Welcome Letter to your home address; this will include your unique member number and Activation Code.

Apply for a loan

- Download our mobile app and Login details.

- Input the Activation Code from our Welcome Letter to verify your account.

- Apply for your loan.

Receive your Decision

- You will receive a decision by email, usually within 1 working day.

- If approved, we’ll email you the loan agreement to review and digitally sign.

- We'll then send the funds directly to your nominated bank account same day.

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Frequently asked questions