Co-op Member or Employee?
Join & borrow today for a preferential rate on a Christmas Loan
– or borrow for any purpose, all year round
Spread the cost of Christmas with an affordable loan from YOUR credit union.
We’re a not-for-profit organisation, here for the benefit of anyone who’s a co-op employee or member.
Membership is free. Joining gives you access to a wide range of member benefits and savings & loans services:
● Apply now to join and borrow any amount from £50- £15,000
● Fair, competitive rates of interest, paid back at a pace you can afford
● Easy online application and quick decision. Apply now and you could have the funds in your account and ready to spend within two working days or less.
What does it cost?
As a guide, here’s how much a typical Co-op Credit Union Christmas Loan for £1,000 could cost:
Example for illustrative purposes only
A typical loan of £1,000, repaid in 12 monthly instalments of £95.66, could save you hundreds of pounds on the cost of borrowing elsewhere. We estimate we saved our members over £350,000 in loan interest in one year alone*
How it works
• In addition to loan repayments, all members must save a minimum of £10/month, which is taken directly from payroll for co-op employees, or by direct debit.
• This means you build up savings even when you’re repaying a loan, and savings quickly mount up.
• Because we’re a not-for-profit co-op, we’re able to pass on affordable loan rates to our members.
• You can take a look at example loan rates on our loans calculator
All membership and loan applications are subject to approval
We’ve answered some of the most commonly asked questions here- from how we make loan decisions to how long it takes to receive a loan, but if there’s something else you’d like more information on, please get in touch, the team will be happy to help.
* we conservatively estimate that our lending during the financial year 2020/21 saved our borrowers over £350,000 in interest they would have otherwise paid had they have borrowed elsewhere.