Latest News

01 Mar 2024

Easter Opening Times 2024

Please be aware that on Friday 30th September 2022 we will be closing at the earlier time of 1pm - this includes telephone calls...

30 Sep 2022

Our new Website is Live!

We are delighted to announce the launch of our new website. We hope you like the look and feel. Check back for latest news and events...

14 Jun 2022

Please Look after your Card!

Just a friendly notice to our members who use our Engage card. Your card is how we send your money to you & this can only be done during...

17 May 2022

New Telephone Number

Due to an upgrade we now have a new telephone number - please save this number to get in contact with us... 01922 661059.

Loans

Take out a Loan

Take out a Loan

You can borrow for less with Walsave Credit Union. One of the major benefits of being a member is access to our flexible, low-cost loans. For more information on becoming a member please click the button below.

Our Loans at a glance

Personal Loan

Personal Loan

(APR 16.3%)
Handi Loan

Handi Loan

(APR 42.6%)
Back to School Loan

Back to School Loan

(APR 42.6%)
Christmas Loan

Christmas Loan

(APR 42.6%)
Payroll Loan

Payroll Loan

(APR 12.68%)

Try out our quick and easy loan calculator below

Maximum Loan Amount :
Maximum Loan Term :

£

Term

Repayment Frequency
£
APR
17.3%
# Repayments
Total
£
APR
17.3%
# Repayments
Total
£
APR
17.3%
# Repayments
Total
£
APR
17.3%
# Repayments
Total

This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.

How to Apply for a Loan

  1. Simply register for online access to your Walsave account by clicking 'Online Banking > Register' at the top of our webpage or using the button below. If you have any trouble with this then please give us a call.
  2. Once you have been activated by us your will then be able to Login to your own secure member area. There is where you will find the Loan Application form. You fill this in online and it is sent to us once you submit it.

If you are registered for Online Access, login today using your Member Number, Date of Birth and 3 digits from your pin.

If you are NOT registered for Online Access, please click on the button below to start the process.

Only members may apply for loans and loans may be granted for any good purpose if:
  • The member shows that they have a need
  • The member can prove their ability and intent to repay
  • Each application for a loan is treated as confidential and on its merits. It is Walsave’s policy to meet the needs of as many members as possible. Within the central policy of equity amongst members, small loans are usually given priority over large ones.
  • The applicant’s record of saving and previous loan repayment, as well as need and ability to repay, are taken into account when considering an application.

A member who experiences difficulty in repaying should immediately explain the situation to the staff at Walsave’s office where the member will be treated sympathetically and every effort can be made to renegotiate the loan to suit the circumstances.

Lending Guidelines
  • The maximum repayment term is 36 months (although with our low interest rates the quicker you repay the less interest you pay)
  • Our Handi loan product is for a maximum of £1000.00 and repaid over a period of 12 months
  • There is a £10.00 next day decision fee this can be requested on the lending application, if you select no the decision will be within 5 to 7 working days. There are no other hidden charges or fees.
  • The interests on all of our lending products are calculated daily. So the quicker you repay the loan the less interest you will pay!!
  • We do not do any cash loans; payments will be allocated to either your nominated bank account or Engage card
  • We ask all of our members to save alongside your loan whilst being repaid. This is a minimum of £1.00 per week or £4.00 per month this will automatically go into your Regular Savings Account.
  • Members wishing to Top Up their lending balance will need to have repaid at least a third of their original lending amount.
  • No more than 3 top ups will be permitted per year
  • All first time lenders will have to provide proof of all income and outgoings. The credit committee will need you to provide 3 months of bank statements. Also we may ask for statements again when members apply for top ups. Failure to provide this information will result in the lending not being accepted.
  • Loans are secured against the savings, withdrawals aren’t permitted unless the outstanding loan is less than regular savings share balance
  • Loan applications may be subject to credit checking
  • We cannot top up any loans with missed payments or failed direct debits
  • We charge interest on the loan from the date it is applied to your account
  • If you are experiencing financial difficulties whilst repaying the loan please contact the office on 01922 661059 and we may be able to renegotiate the loan payments to a more affordable amount
What you need when applying for a loan

We generally require some or all of the following information to accompany Loan Applications i.e.

  • An active Walsave Account with at least 3 Saving deposits
  • 3 months current bank statements
  • Proof of Purchase may be required, additional information may be required depending on the application.

Loans are subject to approval. Terms & Conditions apply.

The more complete the application is, the quicker the decision is made.

Why borrow from Walsave Credit Union?
  • All purpose

    We offer loans for virtually every circumstance.

  • Flexibility

    You can borrow small or large amounts over different periods and the ability to increase the payments if your circumstances change.

  • Fixed rate

    You pay a fixed rate of interest, equivalent to 2.9% per month, and this is only charged on the reducing balance of the loan.

  • No early repayment penalty

    There are no fees if you are able to pay off your loan early, so you'll pay even less interest.

  • No small print

    We don't charge arrangement fees on general lending or have any hidden costs

Saving whilst repaying a loan

Members are encouraged to continue to save whilst repaying a loan.

Remember that when you borrow:

  • you are borrowing the money saved by all the members
  • you have demonstrated your ability to save
  • you have shown integrity and can be relied on to repay
  • you have signed a legal and binding agreement promising to meet your obligation to Walsave

The savings and repayments of all members are the source of funds for those who wish to borrow.