Share Secured Loan

  • Our lowest interest rate of 4.9%
  • Borrow against the value of your savings
  • Preserve your savings & continue to save as you repay
  • Fully flexible with no early repayment fees
  • Fast approval

Get our best rate on a loan

Our Share Secured Loan allows you to borrow up to the value of your savings- and get a special Share Secured Loan rate of 4.9%. Apply Now

Preserve and grow your savings

If you could use some extra cash, it’s a cheaper way to borrow without touching your hard-earned savings. You’ll still have the security of knowing your savings are there to draw on for the future if you need them, all while adding to your savings as you repay your loan. Co-op Credit Union Members must save a minimum of £10 per month.

Fully Flexible

We understand that sometimes things change, so our Share-Secured Loan gives you full flexibility to use all or part of your savings at any time to pay off the loan, with no early repayment fees or penalties.

Fast Approval

With no credit checks, you can benefit from our fastest loan approval time.

What you need to know

Savings to the value of the loan balance must stay for the remaining duration of the loan. Savings above the loan balance will become available again as you repay.
Share Secured Loans are available up to the value of your savings, up to a maximum of £50,000.

(See FAQs below for full details on how our Share Secured Loan works).

Apply Now for a Share Secured Loan

Typical Example – borrowing for a new car

Jenny has £10,000 in her Co-op Credit Union savings account.

She wants to buy a new car but would prefer to keep her savings tucked away rather than spend them.

She can borrow up to £10,000 at our special share-secured loan rate of 4.9% APR, using her savings as security for the loan.

As Jenny repays the loan, she can access her savings above the remaining balance of the loan.

She can also choose to use her savings at any time to repay the remaining balance on the loan. E.g. with £5,000 left to repay on her loan, she could use £5,000 of her savings to clear the loan. She would still have £5,000 left of her original savings, plus any extra savings she has built up during the repayment period.

Example for illustrative purposes only.

Share Secured Loan FAQs