If you have borrowed from us before, but have not been able to save regularly

 

Standard Loans are for Wiltshire and Swindon Credit Union members who have borrowed successfully from us in the past and paid loans off on time.

 

You have not managed to save enough to qualify for our Loyalty or Secured Loans – but we value your reliability and can offer you a reduced rate of interest compared with our Introductory Loan.

 

We will always encourage you to save money while you are borrowing from us. This way you can qualify for better interest rates in the future through our Loyalty or Secured Loan products.

  •  Affordable loan
  •  Flexible repayment terms 
  •  Low interest rate compared to most on-line and door-step lenders 
  •  No hidden cost 
  •  Personal service

How much will my loan cost?

Product Features
  •  For current members with insufficient shares to qualify for Loyalty Loan
  •  Maximum £3,000
  •  Maximum term is 3 years
  •  Interest rate  2.5%-3% per month

 

Eligibility
  •  To be eligible to apply for an Standard Loan, you must have successfully borrowed from us before, repaying the loan on time.
  •  Member must not be Bankrupt, entered into a Trust Deed, DAS, IVA or DRO, and must meet the eligibility criretia to repay the loan.

General Information

Standard Loans are for members who have borrowed successfully before, but have not yet built up enough savings to qualify for a Loyalty Loan

While repaying such a loan you will be asked to pay into your savings account at the same time, in order to build up some resilience in your finances. We request £5 per month for loans up to £500, £10 per month for loans up to £1000 and £15 for loans above £1000. We would always encourage you to save more if you can.

Applicants must be a UK resident and at least 18 years old.

Our handy online loan calculator tool gives lets you check rates out for yourself. Simply slide to the amount you intend to borrow, and how long you want the loan to run, and you can easily try out various repayment scenarios. This facility can also be used to check out credit union rates against other lenders. Remember to include any existing borrowing to find your total repayments.

To apply for a standard loan online, log in as a member and then just select the relevant link from the online application section. Alternatively, to find out more, call our offices now on 01793 522216.

 

Charges

We do not charge any administration fees for accessing our loans. We do not charge for re-paying your loan early.

 

Interest

Interest is fixed throughout the duration of your loan agreement. Interest is calculated daily and in arrears, then charged to your loan account monthly. Interest is calculated on a decreasing balance.

 

Repayment Information

You may make repayments on your loan using Direct Debit or Standing Order, both of which our office team can help you with. Alternatively you can make regular repayments using your own online banking facilities, or pay in cash at one of our collection points.

Our products

Our loan products at a glance

Secured Loan

A loan secured against your savings

Standard Loan

The loan you want - when you need it

Loyalty Loan

Up to 5 times your pot of savings

Family Loan

Loan for parents against Child Benefit

Member of ABCUL

Authorised and Regulated by

Your money is protected up to £85,000

Accredited by FairLife