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Borrowing

Glasgow South Credit Union's loan policy is designed to meet the needs of individual members and is based on the borrowers ability to repay. 

Loans are offered exclusively to members, so to be eligible for a loan you must first be a member of the Credit Union. 

New members can apply for a loan after 8 weeks of regular saving and can be for a maximum of £300.00

Regular loans with an interest rate of 12.68% APR (1% per month on a reducing balance).

Loans can be repaid over a maximum of 5 years.

Loans are offered subject to status, eligibility and terms & conditions.

 

Loan Protection Insurance 

When you borrow from Glasgow South Credit Union you also have loan protection insurance. 

The insurance is offered at no cost to you and covers the outstanding balance of your loan should you pass away before the loan is repaid. 

The protection insurance is subject to terms and conditions, cover limits vary and certain restrictions apply. 

Please ask for more details about individual limits and restrictions.

Loan protection insurance is underwritten by Covéa Life Limited, the UK subsidiary of Covéa Group, a European leader in insurance and reinsurance. Covéa Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial conduct Authority. Registration Number  202178