The loan for loyal members

Amina Shariffi
Amina Shariffi
02/11/2021
Verified
So easy and fast when applying for a loan , everything was explained and talked though with me clearly I would definitely recommend south Manchester credit union to anyone
Martin Kavanagh
Martin Kavanagh
02/11/2021
Verified
I have been with credit union for years, it’s really simple to apply for loans and interest is very good, the staff are very polite and helpful.
David Wilson
David Wilson
02/11/2021
Verified
Fantastic and Quick response when applying for a loan excellent staff
John Ashton
John Ashton
01/11/2021
Verified
5 star professional service! Communication great!
Tracey ONeill
Tracey ONeill
01/11/2021
Verified
Fabulous! If there were 10 stars they would achieve them all!! Been a fabulous service to me from the first time I applied, then today they have enabled me to deal with a personal nightmare within 2 hours excellent service and staff ❤️
Leanne Parkinson
Leanne Parkinson
28/10/2021
Verified
Service is amazing couldn’t ask for nothing more nothing less and the staff are amazing!
Chevonne Lancett-weir
Chevonne Lancett-weir
26/10/2021
Verified
Easy and fast , brilliant customer service
Chan Gilmore
Chan Gilmore
25/10/2021
Verified
Very friendly, Surprisingly fast. Went through different options to find which was the best for me.

Be rewarded with a Saver Loan

Now that you’re a top saver, we want to reward you.

That reward comes with a bespoke Credit Level and we drop the annual interest right down to 24% (APR 26.8%). 

The interest continues to only be charged on the reducing balance – just Like the Welcome Loan.

Let’s have a quick look at an example:

If you borrow £500 from 1st July and pay £20 per week, it will be fully repaid by 6th January. You’ll pay £32.51 in interest – repaying a total of £532.51.

You can apply to refinance your loan up to 4 times a year between 1st October and 30st September. The minimum refinance is £150. 

From a sneaky bill to the fun stuff, the Saver Loan is there to help with your expenses.

This is how it works...

Enjoy the fruits of loyalty

Since you’ve continued to better your finances with us, we want to give back to you. 

Our Saver Loan gives you a lower interest rate and a bespoke Credit Level up to £3,000.

Build your Locked Savings

Your Locked Savings are a pledge against your loan. 

What you’ve built up makes a difference to how much you can apply to borrow. 

To work out how much you can apply for, we multiply your Locked Saving by 3.

Borrow within a Credit Level

A Credit Level is the maximum amount of credit that you can have with a Saver Loan. 

It is a bespoke amount designed around your finances.  

If you have a third of your Credit Level in your Locked Savings – you can top-up your loan balance to your Credit Level.

If you are still growing your Locked Savings you can top-up your loan balance to 3x your Locked Savings.

 

Apply to borrow from £150

The minimum loan you can apply for is £150.

Members have let us know that this is a handy amount to cover the cost of a broken fridge or help with the stress of unexpected bills.

Apply up to 4x a year

We found that 4 loans between 1st October and 30th September is the perfect amount. 

It’s useful for members to plan the the big things as well as  overcome any unwanted surprises.