About our loans

Apply for a loan now

We could save you money on the cost of a loan. Borrow from £50 up to £15,000 – at fair and affordable rates. Apply online and potentially receive your loan within 2 working days.

Why chose us?

  • Our interest rates are competitive because we are a not-for-profit organisation owned by members and run for the benefit of members.

  • We pride ourselves on being fair and transparent – there are no joining fees, hidden charges or early repayment penalties with our loans and we only charge interest on the reducing loan balance to save you money.

  • Members are required to save a minimum of £10/month – so as you repay your loan, you’ll build up a pot of savings for future use.

  • Savings and loan payments can be taken by payroll deduction (for qualifying employee members) or by direct debit, making repayments easy.

    Please note, all loans are subject to our lending policy and affordability checks. See below for full details..

Apply for a loan now

Representative example:

To borrow £1,000 over 12 months:
12 x monthly repayments of £95.71.
Total repayable £1,148.52. Total cost of credit £148.52. APR 29.8%

Example for illustrative purposes only. Use our loans calculator to get an idea of what your monthly payments might be.

Any Questions?

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.

All loan applications are subject to our Loan Approval Policy. Members who have been declined for a loan with us in the last 3 months are not eligible to apply. We will check your credit history and assess the affordability of loan repayments by reviewing your bank account(s). We may also request additional supporting information depending upon your circumstances, such as payslips, ID documents or immigration paperwork. All lending decisions are ultimately at the discretion of our team. We always do our best to say “yes” but unfortunately that is not always possible. We will be happy to provide information about how we made any decision upon request.

Jacci Marcus
Jacci Marcus
2024-02-02
Co-op Credit Union provide an excellent service and they make is easy regarding all of the application and credit checking mostly thanks to a lovely team and a credit app that deals with all the communication. Quick responses, clarity on what's required for application, and prompt decision making and payment. 🙂
Craig Heyes
Craig Heyes
2024-02-01
Very easy to use and very quick response
David Gourlay
David Gourlay
2024-01-29
The process for a loan was really simple and the app made communication seamless. Would highly recommend the Coop credit union.
Linda Burns
Linda Burns
2024-01-25
Really good experience, quick and easy to deal with. Replied promptly.
Gbenga Awelogun
Gbenga Awelogun
2024-01-23
I love the swiftness in the review and appproval process for both registration and loan request. The team were supportive and took time to look into my circumstances hence their flexibility as regards my application is greatly appreciated. Overall, everything was seamless and stress free with no ambiguity. Thank you Co-op Credit Union
Stephanie schofield
Stephanie schofield
2024-01-23
Really good, straight forward.