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Our loan policy sets out the general criteria by which we assess the eligibility for lending to our members. The policy changes from time-to-time to reflect the needs of our members and the credit union as a whole. We use a share multiplier on our larger products (Affiliate and Non-Affiliate Loans) to determine how much you can apply for. The smaller loan products (Everyday and Member loans) are not subject to the share multiplier for up to £7,500. This means you can have a total outstanding loan balance spread over these products of up to £7,500 with minimal shares. For loans over this amount we use the following share multiplier:

3 x shares* + £2,000 = Maximum total loan balance (up to £20,000). So, for example, if you have £4,000 in savings you will be eligible to apply for a loan of up to £14,000.

Please note that the share multiplier does not overrule product capacity limits so you should check individual loan products for eligibility.

*Shares must be held in a Membership account.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (No.213995)