Terms and Conditions

In order to apply for a loan with 1st Class Credit Union an individual must be a member of the credit union making the minimum monthly/weekly contribution.

If not already a member, the applicant must have completed an Application for Membership.  However, the full application process will not begin until the first deposit has been made into the members share account.

Applicants must also be over the age of 18; must make an application using a hard copy Loan Application available from the office, or submit an electronic application via the website.

They must provide current Payslip/Bank Statement as proof of income.


Please read our full Terms and Conditions before applying for a loan application.

Terms and Conditions

Interest Rates for Personal Loans


  • Borrow £100 – £999 at 19.6% APR
  • Borrow £1,000 – £4,999 at 12.7% APR
  • Borrow £5,000 – £7,499 at 9.9% APR
  • Borrow £7,500 – £20,000 at 7.2% APR

How much will my loan cost?

Use our loan calculator to estimate how much you will have to repay. Either use the sliders, or input text to enter the loan amount; the repayment period – and whether you want to pay monthly or weekly. Also, remember to set the amount you wish to save – a minimum of £3 per week or £15 per month.

Please note: The figures given are for illustrative purposes only and may not be the APR you receive. The actual interest rates and repayment amounts may vary subject to loan amount and status.

Also, remember that the monthly figure shown is ONLY the loan repayment. Remember to add the amount you are saving each month/week to get your total deduction.

Member of ABCUL

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Your money is protected up to £85,000