Affordable Loans

Our loans are now more competitive than ever…

Why borrow with us?
  • Now offering competitive interest rates
  • No set up fees or admin charges
  • No fees if you repay your loan early
  • Weekly, fortnightly or monthly repayment options
  • Only pay interest on the reducing balance, so in the long run you pay less
And did you know?
  • Once approved and signed for, money usually in your bank the same day
  • We encourage you to save while repaying your loan. This builds up a nest egg for when the loan is paid back- or you can use it to pay your loan off early.
  • We’re a local, friendly service- we try to help all our members, including thosewith poor credit scores
  • Salford Credit Union is an ethical, not for profit lender
  • Members’ money stays in the community- we don’t have shareholders taking the profits
  • We are Salford’s financial Co op- run by our members, for our members- and putting our members at the heart of everthing we do

Loan Products

The Personal Loan

No need to save with us before applying for our Personal Loan: borrow up to £7,500 on terms from 6 months to 60 months on interest rates ranging from 7.5% to 38.5% depending on amount borrowed.

Example:You borrow £500.00 over 50 weeks at 38.5% APR. You repay £11.71 every week on the loan. Total interest-£85.02. Total repaid £585.02, saving around £350 compared to other lenders such as Provident.

Apply now or find out more.

Savers Secure Loan

Offering our most competitive rates for those members who have enough savings with us : borrow up to £7,500 on terms from 6 months to 60 months on interest rates ranging from 7.5% to 9.66% depending on amount borrowed.

Example: You borrow £1500 over 24 months at 9.66% APR. You repay £68.09 every month on the loan. The total interest – £134.16. Total repaid £1634.16 saving around £313.00 compared to other lenders such as Santander.

Apply now or find out more.

Payroll Loans

If you work for one of our payroll partners, your loan repayment can be taken out direct from your wages on payday. Borrow up to £7,500 on terms from 6 months to 60 months on interest rates ranging from 7.5% to 16.1%.

Example: You borrow £2000 over 24 months at 16.1% APR. You repay £96.99 direct from your wages every month. Total interest – £327.76. Total repaid £2327.76 saving around £172 compare to lenders such as NatWest.

Apply now or find out more.

Responsible lending and borrowing…

Salford Credit Union is about encouraging wealth not debt! That is why we ask you to save.

We encourage all our members to check they can afford to repay a loan.Please use our Budget Planner to helpwork out your Income and Expenditure and see what you have left over! SCU Budget planner

IT IS VITAL TO REPAY LOANS IN LINE WITH YOUR AGREEMENT- if you don’t it is other credit union members who suffer, not faceless shareholders. 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.