Personal loan

Planning a big purchase or unexpected expenditure?

A personal loan could be for you if you’re needing to replace your washing machine, or car, planning a holiday, or want a really special family Christmas.

NEW to Salford Credit Union or first loan?

  • 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

Key Facts

  • Personal loans are from £300 to £10,000
  • APR is from 7.5% to 42.6% dependent on amount borrowed
  • Maximum repayment term of five years
  • No set up or arrangementfees
  • No admin charges
  • No early repayment penalties

Salford Credit Union Personal Loan current rates [from October 2018]

  • £300- £1499: 42.6% Representative APR
  • £1500- £2999 26.8% Representative APR
  • £3000- £4999: 19.9% Representative APR
  • £5000-£6999: 12.68 % Representative APR
  • £7000- £10,000: 7.5% Representative APR
How to apply

NOT A MEMBER? You will need to become a member to qualify for a credit union loan. If your loan application isapproved you will automatically become a member.

NON MEMBERS- apply for loan & membership here



  • You can also apply at the office
  • Give us a call on 0161 686 5880 to speak to one of our friendly advisers or email if you want more information.
Loan assessments
  • All loan decisions are made on an individual basis and subject to status.
  • We look at factors including income and expenditure, ability to repay, previous savings history and history of managing credit. This may include credit scoring but we are regularly able to help members with poorer credit scores.
  • We may be able to help applicants with recent defaults or County Court Judgements (CCJs) but we will expect you to be repaying them. If in doubt you can carry out your own credit search which should not harm your score –there are free checks available.
  • If it’s your first loan with us then a loan similar in value to your monthly income might be a realistic starter loan. Once you’ve shown you can pay this back with no issues then you are more likely to be successful with an application if you need larger loans in the future.
  • After your first loan you can usually apply to ‘Top Up’ future loans once you have paid at least half of it back in line with the loan agreement.
  • We recommend you use our Budget planner to help check you can afford the loan repayment
  • IT IS VITAL TO REPAY LOANS IN LINE WITH YOUR AGREEMENT. Failing to repay loans means other credit union members –your friends and neighbours- suffer. Contact us as soon as you think there may be problems, we will try to help if we can. If you do not contact us and payments cease it may affect your credit rating and we may have to pass the debt to a third party collection agent.
Representative exampleSee how we compare
Salford Personal Loan

£500 loan repaid over 52 weeks at 42.6% APR

Repay £11.50 every week.

Total interest £97.01


Provident Loans

£500 loan repaid over 52 weeks at 299.3% APR

Repay £18 every week.

Total interest £436



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.

Terms of Lending

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

Our loans

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