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Budget Booster

Our Budget Booster Account is a credit facility that offers members the flexibility to access funds when they need them, along with the certainty of fixed monthly repayments.

Member Login & ApplyJoin NHS Credit Union
Eligibility
  • Borrow up to £2,000
  • Fixed monthly repayments
  • Access funds as and when you need them
  • Build up your savings as you repay the loan
  • To be eligible to apply for a Budget Booster Loan, you must have at least £5 in your Regular Savings Account (minimum shareholding).
  • Members will require the equivalent of a first month loan repayment to apply.
  • New members must have one month’s payroll/direct debit in their account and a first month loan repayment before a loan application is granted.
  • Members must not be Bankrupt, entered into a Trust Deed, DAS, IVA or DRO, and must meet the eligibility criteria to repay the loan.

View Loan Documentation

Budget Booster Podcast

Key Facts

  • You must be a member of the NHS Credit Union.
  • You must be over 18 years old.
  • Free Life Insurance Cover for your Personal Loan up to the age of 79. The Loan Protection Cover allows us to make a claim upon your death or permanent disability and clear your outstanding loan balance. T&C’s apply.
  • We do not charge a Loan arrangement fee or an early settlement fee.
  • The Budget Booster Loan is available for specific amounts: £500, £1,000, £1,500 and £2,000.
Member Login & ApplyJoin NHS Credit Union

Benefits of the Budget Booster

Short-Term Help

The Budget Booster is designed for short-term borrowing needs and for temporary financial shortfalls or to use in emergencies.

Borrow Wisely

Consider accessing funds periodically and take out money only when you really need it, not the whole amount at once.

Flexible Access

Optimal use involves accessing a portion of the credit limit. Get funds when you need them, not all at once. It’s like a safety net for your money and this will help with financial stability.

Talk About Long-Term Needs

While the Budget Booster is primarily designed for short-term needs, Members have the option to discuss long-term borrowing requirements with us if you need money for a longer time. Speak with a member of the team and we can discuss options together.

Repay and Stay Ready

Pay back what you borrowed quicker keeps your safety net full and ready for the next time you need it, enhancing your financial resilience.

Loan Protection

As a member of the credit union your borrowing is protected by our Loan Protection and Life Savings insurances.
Life Insurance Benefits: In the event of the death of a life insured while this policy is in force, life insurance benefits up to the insured loan balance are payable.
Life Insurance Benefits: In the event of the death of a life insured while this policy is in force life insurance benefits up to the insured balance are payable.

Loan Protection

 

Documentation Required to support your Loan application

To ensure your Loan application is assessed as quickly as possible, we may need you to share the following information with us.

When assessing your loan application:

  • We may carry out a credit reference check as part of my application.
  • We may require additional supporting documentation.

Documents we may request.

  • Your own most recent payslip
  • Open Banking or 1-month recent bank statement(s) required to verify income and all household expenditures.
  • If including a partner’s income, they must complete a consent form and provided their most recent payslip/proof of income and a 1-month bank statement(s) verifying their income and expenditure.

Need Help? Contact the NHS Credit Union team today

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