Members Quotes
Borrow up to £20,000
(no savings required)
Interest rate from 9.4% (9.9% APR) to 26.5% (30% APR)
Borrow 4 x Retail CU savings balance
(borrow £1,000 – £15,000)
Interest rate 9.4%pa (9.9% APR)
Borrow 5 x Retail CU savings balance
(borrow £8,000 – £25,000)
Interest rate 4.75% pa (4.9%APR)
Borrow your Retail CU savings balance
Interest rate 2.86% (2.9% APR)
Loan Calculator
Use our loan calculator to see how much you could borrow and how much you would pay back.
Loan FAQs
For help and guidance on applying for a Retail CU loan and everything you need to know to guide you through the application process.
There are no arrangement fees or hidden charges with Retail CU loans. Members can pay off loans early, without incurring penalties – instead you will save money on interest.
Repayments are on a weekly or monthly basis, and members should be aware that there are some legal limitations to length and amount of loans. Our general advice is to try and repay a loan in as short a time as possible (this way it will cost you less).
Members who are bankrupt or taken an Individual Voluntary Arrangement (IVA) that shows on their credit report (normally six years after the event) are welcome to save with Retail CU and benefit from the Annual Divided (profits allowing), however, loans are not available to these members.
Members must save on a regular basis while repaying their loans.
As part of the loan assessment, we use a licensed Credit Reference Agency. The ways in which they use and share personal information are explained in more detail in the Credit Reference Agency Information Notice (CRAIN) here.
We would encourage members who experience financial difficulties to contact us at the earliest opportunity to discuss the possibility of a revised repayment plan.
