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Personal Loan

Personal Loans are (unsecured), for members who want to apply for more than their current credit union savings.

Minimum application £500.

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  • To be eligible to apply for a Personal Loan, you must have at least £5 in your Regular Savings Account (minimum shareholding).
  • Members must have their first month loan repayment in their account to be able to apply.
  • New members must have made their first contributions to the Credit Union, in line with requirements set out in their welcome letter, before they can apply for borrowing.
  • Your savings must be the equivalent of a first month loan repayment.
  • Affordability checks will be carried out for repayments, re total borrowing, you can apply for further borrowing three months after a loan application.
  • 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

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 minimum Unsecured Loan available is £500 and the maximum is £25,000.
  • Unsecured Loan terms are between 6 and 84 months.
Members Login & ApplyJoin NHS Credit Union
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 documents 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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