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Tel: 0141 445 0022 Fax: 0141 440 2294 Email:

28 March 2017
The loan that helps you Budget
Here’s a problem that might sound familiar in many households: Money is tight; the family finances need a little top-up ... but you want to know exactly where you stand.

It’s a dilemma, but your credit union might just have the answer - our Budget Loan.

The Budget Loan is a revolving credit facility that allows you to take out a loan - even if you have another one outstanding - with fewer restrictions - and fixed monthly repayments.

As the table below shows, the amount you can borrow is fixed; repayment terms are fixed and the amount you pay each month is fixed. The budget loan offers the facility to borrow £500, £1,000, £1,500 or £2,000.

The only thing that isn’t fixed is the flexibility to use the loan as and when you need it.  You only start repaying when you actually draw down the money. So if you think you need £1,000, you apply for that in a budget loan. However, you draw down £500 - and if that proves enough, you keep the other £500 in reserve ... and only pay interest on the £500 you have used. It’s a pre-approved loan in your back pocket.

Drawing down £500 will cost you £30 per month; £1,000 will cost £55 per month; £1,500 will cost £80 per month - and £2,000 will cost £100 per month.

As with all credit union loan facilities, eligibility is based on affordability. We will not encourage you to take out a loan you can''t afford to repay.

Members can now apply for a Budget Loan online. Click here to log into your account and then select the Budget Loan form from the list of Online Application Forms.

 Alternatively, to find out more, call our offices now on 0141-445-0022.


NHS Credit Union Limited Tel: 0141 445 0022 Fax: 0141 440 2294 Email: Web:
NHS (Scotland & North England) Credit Union Ltd is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. ‘NHS Credit Union Ltd’ is a registered trading name of NHS (Scotland & North England) Credit Union Ltd.