Credit Union loans are simple. It takes just a couple of minutes to apply. Use the slider below to see how much it would cost to borrow, selecting whether you’re working. And remember, you'll always get a quicker decision if you opt to use open banking.
When you borrow from us:
You're a member, not a credit score
We focus on your personal circumstances when considering your application. If you have savings with us, you're more likely to get a loan.
Save as You Borrow
This is a painless way to build up your own safety net, even when you’re borrowing. Furthermore, regular savings makes it more likely we’ll accept your loan application in the future.
If you would like to save at the same time as repaying your loan please request this during your loan application.
You can take a loan from a credit union without paying an early repayment charge. In fact, the earlier you pay the less interest you incur.
We make sure a loan from a credit union is affordable. And if your circumstances change we are here to help you.
Loans for those who are working (including self-employed and retired)
If you have an existing loan and want to apply for a further advance you must have paid off 33% of the original balance and had the loan for at least six months.
When stating how much you want to borrow, include any outstanding balance.
THIS IS A REPRESENTATIVE RATE FOR QUOTATION PURPOSES. WE WILL BE ABLE TO OFFER YOU AN ACTUAL RATE ONCE WE HAVE UNDERTAKEN A CREDIT CHECK. WHILST EVERY CARE HAS BEEN MADE IN THE PRODUCTION OF THIS WEB PAGE, THE CREDIT UNION, OR ANY OF ITS STAFF, CANNOT BE HELD RESPONSIBLE FOR ANY OMISSIONS, ERRORS OR OTHER MISTAKES MADE. THIS WEB PAGE IS FOR ILLUSTRATIVE PURPOSES ONLY, SO AS TO GIVE YOU, THE BORROWER, AN OVERVIEW OF THE POTENTIAL COST OF BORROWING. PLEASE ALSO NOTE THAT THE INTEREST RATE FOR CONSOLIDATION LOANS WILL USUALLY BE HIGHER THAN THE RATE QUOTED ON THE SLIDER.
How we make lending decisions
Our credit union loans are based on affordability, your credit report and any history of borrowing and saving with BDCU.
Defaults and CCJs:
- Whilst we can accept a loan if you have defaults, you’re more likely to be accepted if you haven’t missed a payment in recent months.
- The same is true for County Court Judgments. An older CCJ won’t stand in your way, but more recent court action will probably prevent us from lending.
- We cannot consider an application if you are currently going through bankruptcy, an Individual Voluntary Arrangement, Debt Relief Order or Debt Management Plan.
If you have recent defaults, CCJs or are insolvent do not apply for a loan. Submitting an application can actually cause your credit score to fall further because we'll carry out a credit search.
For more help and information, check out out money tips.