Loans
Need a loan? We’ve got you covered
At Wishaw Credit Union, we’re here to support you when you need it most. Whether it’s for everyday expenses, a special occasion, or managing your budget, our loan options are designed to fit your needs.
How to apply
While we’re working on building an easy online loan application form, the best way to get started today is by contacting one of our friendly loan officers. They’ll guide you through the process and answer any questions you have.
Our loan products
Personal loan
Our main loan product designed to help you borrow based on your savings and repay comfortably. The personal loan works alongside our budget loan to give you flexible support for your finances.
Budget loan
A loan with a different interest rate and a set borrowing limit. It’s perfect for managing everyday expenses and must be repaid between 12 to 18 months depending on the loan amount. Speak to your loan officer to find out more and see if this option suits your needs.
Joint loans for weddings
Planning a wedding?
You and your partner can apply for a joint loan to help make your special day even better.
Types of loan we offer
Depending on your circumstances, we offer both secured and unsecured loans:
- Secured Loans are backed by your savings, meaning you can borrow up to the amount you have saved. This reduces the risk for both you and the Credit Union.
- Unsecured Loans – Savings are required as security, but you can borrow more than you have saved – lending criteria applies.
Our Loan Officers will help you understand which option works best for you.
How much can you borrow?
You can borrow up to 2.5 times your savings, plus your savings themselves—giving you plenty of flexibility as you build your financial goals with us.
Loan calculator
Want an idea of what your repayments might look like?
Use our loan calculator for an illustration based on our current APR rates.
Please note, this calculator is for illustrative purposes only – final loan terms will be confirmed when you apply.
Try our sample loan calculator
This summary is for illustrative purposes only, actual repayments and interest may vary slightly. The example is to give you, the borrower an overview of the potential cost of borrowing. For more information, please contact our office by emailing enquiries@wishawcu.co.uk
Protect your loved ones
Your Credit Union Personal loan (Loan 1) comes with Loan Protection at no extra cost to you*, provided in conjunction with CUNA Mutual. If you die before your loan is repaid, this cover may help settle the debt, so it isn’t passed on to your family. It won’t take away the pain, but it can ease the financial strain. Being a member means you borrow safely while supporting better loans for all members.
*Subject to terms, age limits, and cover restrictions. Ask your Credit Union for details. Budget loans are not currently insured.
Important information
Borrow with confidence
You are eligible for a loan from 4 weeks of savings and loans are subject to affordability checks and our lending criteria.
Rates, fees, and repayment terms are explained clearly before you borrow.
For unsecured loans, while repaying, your Build and Borrow account (Share 1) is locked until your savings exceed the amount you owe.
No loan is guaranteed—please don’t spend money before you have it.
We encourage saving alongside repayments to support your financial wellbeing and our team is here to help if you ever struggle with payments.
Your information is safe and confidential.
For any concerns, our complaints process is simple, with escalation to the Financial Ombudsman Service if needed.
- Our loan policy is available on request. Email enquiries@wishawcu.co.uk