Tel: 01922 653310 Email:

17 August 2017
Revolving Credit

Walsave offers revolving credit, (the credit unions answer to the credit card) it can set it up by checking the table of repayments and corresponding credit limits for the stucture of the Flexi-Credit agreement. Rather than making individual applications like our regular loan facilities.

You must be invited by Walsave to enable you to use the Flexi-Credit facility that is available from Walsave. Not all members will not be invited to use this facility and applications are assessed and granted by our loan assessment team.

A Walsave Flexiloan is ideal for members who like the idea of a credit card facility but hate the high interest rates, fees and form filling. With a Flexicredit, you can:

Flexi-Credit - How it Works

1. To qualify for a Flexi-Credit Account you must have been a member for at least 18 months.

2. Flexi-Credit Accounts are only available to members who make regular deposits.

3. Your credit limit will be based on your ability or capacity to repay and any previous credit history.

4. You will be making one constant payment no matter what your current Flexi-Credit balance is - making it easier to budget.

5. You should receive access to the requested funds as quickly as Five business days following the receipt of completed paperwork for the initial advance or a completed Flexi-Credit slip.

6. Like our normal loans you can still make extra repayments or pay off the loan early without penalty fees.

7. Save as you repay your loan (part of each deduction is added automatically to your Membership account)

8. Make ongoing fund requests up to this limit as and when you require-just by sending in a Flexi-Credit slip (£50 minimum).

9. In addition to being a simple way to put you in charge of you finances, with a Walsave Flexi-Credit you also benefit from:

    • Personal and professional service from our Member Service and Loan Advisors
    • No hidden fees or charges
    • Interest calculated daily
    • Payments made easily by Payroll Deduction Direct Debit or Standing Order
    • Free loan protection insurance (conditions apply)

10. Credit limits available are £500, £1000, £1500, £2000, £2500 or £3000 and all applications are subject to approval and regular reviews.

11. Minimum repayment is based on repaying the maximum credit available over approximately 3 years e.g. £2000 = £80 per month plus savings.


Flexi-Credit Unit Regular Monthly Payment £ Regular Weekly Payment £
£500 £20 £5
£1000 £40 £10
£1500 £60 £15
£2000 £80 £20
£2500 £100 £25
£3000 £120 £30

12. Funds will be paid by BACS in to your designated bank account or an Abcul Pre Paid card on receipt of a completed Flexi-Credit Payment Request.

13. You maybe able to renegotiated you credit limit after your Flexi-Credit Account has been running for 1 year.

14. You may have a Flexi-Credit Account in addition to existing borrowing, subject to ability to pay.

ClickDownload Revolving Credit Application Form (156.1kb)

To ensure that your application is dealt with promptly, complete and supply all information requested.

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Walsave Credit Union Tel: 01922 653310 Email: Web:
Authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority registration no 213796