Affordable Loans

Affordable, ethical loans- just for our members, so why not join us!

Why apply?
  • Competitive and fair interest rates- we aim to make YOU better off
  • No set up fees or admin charges
  • We encourage you to save while repaying your loan- build your savings and improve your financial independence
  • Run BY members FOR members-no shareholders taking the profits
  • Local, ethical and friendly, we try to help as many people as possible, including those with poor credit scores
How it works
  • Check you are eligible for membership– we can only give loans to our members
  • We look at what’s affordable for your budget
  • We aim to give a decision in three working days once all information needed received (may be longer for FIRST LOANS and in busy periods)
  • Once approved and signed, money usually reaches your account same day
  • No settlement fees if you repay your loan early
  • Only pay interest on the reducing balance
  • Apply online or in the office or phone 0161 686 5880 for an initial discussion
The Personal Loan (up to £10,000 for established members)

NEW to Salford Credit Union or first loan?

  • We can only give loans to Credit union members. If your loan application is successful you will automatically become a member
  • If you are employed you could apply for up to £2000 repayable within 2 years
  • If you are unemployed you could apply for up to £500 if you have a regular income

If you have a very good credit rating then speak to us about a larger loan.



  • If you repaid your previous loan with no problems then we look forward to helping you again


APR from 7.5% to 42.6% dependent on amount borrowed.

Example: £500 Personal loan- Pay £11.52/week for 52 weeks at 42.6% APR- costs £97.01 in interest

Find out more about our Personal Loans here

Savers Secure Loan (now up to £10,000)

A competitive rate and convenient arrangement for those members who want to borrow but keep their savings intact. We generally aim for a same day decision (subject to admin cut off times).

Borrow up to the value of your savings and APR from 7.5% to 12.68% dependent on amount borrowed.


Example: £1,500 Savers Secure loan-Pay £70.60/month for 24 months at 12.68% APR- cost £194.29 in interest.

Find out more about our Savers Secure Loans here

Payroll Loans

If you work for one of our payroll partners take advantage of attractive rates and the convenience of having your savings and loan repayment taken direct from your wages on payday. You will need to become a member to qualify for a credit union loan. If your application is approved you will automatically become a Payroll member.



APR is from 7.5% to 19.9% dependent on amount borrowed.

Example: £2,000 Payroll loan- Pay £101.66/ month over 24 months at 19.9% APR costs- £439.59 in interest.

Find out more about our Payroll Loans here

IMPORTANT INFORMATION- Responsible Lending and Borrowing

We will need proof of your income and we carry out credit scoring.

Use our Budget Planner to help check you can afford a loan.

We encourage all borrowers to include a small amount of savings as part of your repayment.

We may be able to help applicants with County Court Judgements (CCJs) but we will expect you to be repaying them.

We regret we are unable to offer a loan if you are on an Individual Voluntary Arrangement or debt relief order or been declared bankrupt in the last 2 years.

When you get a loan you agree to pay in line with your agreement.If you don’t pay it is other credit union members who suffer and it might affect your credit rating. You should contact us as soon as you think there may be problems so we can see if we can help- don’t put it off!

More information

Give us a call on 0161 686 5880 to speak to one of our friendly team members, use our contact form or email us at if you want more information.

How we use credit referencing information

Credit Reference and Fraud Prevention Agencies

We may make searches about you at credit reference agencies who will supply us with credit information as well as information from the Electoral Register.  The agencies will record details of any search whether or not this application proceeds.  We may use credit scoring methods to assist the application and to verify your identity.  Credit searches and other information which is provided to us and/or the credit reference agencies about you and anyone with whom you are linked financially or other members of your household.

This information may also be used for debt tracing and the prevention of money laundering as well as the management of your account.  In addition, we may ask you to provide physical forms of identification and/or we may telephone you to confirm you identity.

To prevent or detect fraud or to assist in verifying your identify we may make searches of group records and at fraud prevention agencies who will supply us with information.  We may also pass information to financial and other organisation involved in fraud prevention to protect ourselves and our customers from theft and fraud.  If you give us false or inaccurate information, details will be passed to fraud protection agencies.

This information may also be used for tracing and claims assessments and verifying identify.  Information held about you by the credit reference agencies may already be linked to records relating to anyone with whom you have a financial relationship such as a joint account.

More information here- Credit Union difference, regulations & privacy


Terms of Lending

All approved loans are subject to Terms and Conditions. Current terms can be found here.


Our loans

Related pages

Check with us what protection the Financial Services Compensation Scheme offers you.