Personal Loans

Personal loans

Our personal loans offer you the freedom to do what you want. So whether you need a new item of furniture, your car is in need of repair, or maybe you need some extra money to tide you over, our personal loans can help you.

We have a quick and easy application process and you can apply in branch or online. You will have a decision within 7 working days.

Features and Benefits
  • Apply for up to £7,500 with a savings account minimum balance of £10 (subject to an affordability check)
  • Choose to repay weekly, fortnightly, every 4 weeks or monthly
  • Interest is only charged on the reducing amount of your balance
  • Pay off your loan in full at any time – there are no penalty charges
  • Free loan protection insurance is included on all loans up to the value of £5,000 – your loan will be written off in the event of your death*
What you need to know:

Loan terms between 3 – 60 months

When considering how quickly you repay a loan you need to ensure you have enough disposable income to meet daily living expenses, but paying of a loan quickly means you pay less in total interest. Our loans can be repaid in full at any time with no penalty.

How much interest do we charge?

Our Annual Percentage Rate (APR%) ranges from 14.9% to 42.60%. The rate is dependent on the amount you borrow and we charge no additional fees or costs.

Unlike other lenders, we do not charge different interest rates based on your credit score. So the Representative Rate is the rate you will pay.

To see how much interest you will pay, enter the amount you wish to borrow in our loan calculator.  

Please Note
  • LCCU loans are available to members who make regular contributions to their savings
  • The amount requested is subject to change as per LCCU eligibility.
  • A satisfactory loan application is subject to you providing acceptable proof of identification, residence and income
  • If you miss loan repayments and do not take action to rectify the situation it may affect your ability to obtain credit in the future and further action to recover the outstanding sum will be taken.

*terms and conditions apply