Consolidation Loan

Simplify your debts by having one credit union loan. Use our loan calculator to see how much you'll save and repay. 

Borrow from £500 to £15,000

How would you like to pay back?
(Select a time period)

Take control of your finances

Consolidation loans are designed to help you easily manage your debt. Give yourself peace of mind and put your debt into one manageable payment. 

 

Why choose a credit union consolidation loan? 

  • Pool your debt into one simple payment 
  • Choose a personalised repayment schedule
  • Chance to reduce your monthly payments

Why choose Great Western Credit Union?

If you are in the South West we are your local credit union and we are here to help you.

We have 25 years of community finance and ethical lending experience and a 4.9 reviews rating with Smart Money People.

Our loans are affordable with interest rates as low as 13.9% and tailored to your needs. Pay back weekly, fortnightly, four weekly or monthly, whatever suits you.  

Borrow as little as £500 or as much as £15,000, for up to 5 years. Our interest rates are fixed with no hidden fees.  

The online application takes only 15 minutes and is assessed individually by qualified lenders. 

Some important information regarding consolidation loans

Our consolidation loan is specifically designed to help you pay off your existing debts more effectively. We aim to support you in managing your debt and provide a more seamless, stress-free way to become debt-free. 

For this reason, and as laid out in the terms and conditions, please note that this loan can only be used for the purpose of debt consolidation.

Interest rate

From £500 to £1,749.99 - 42.6% APR
From £1,750 to £2,499.99 - 32.9% APR
From £2,500 to £4,999.99 - 22.9% APR
From £5,000 to £7,499.99 - 18.9% APR
From £7,500 to £15,000 - 13.9% APR

Representative example

Borrow over months, and repay per month, total amount payable (including interest of ) is . % APR representative.
Try our calculator to see what your payments would be and the total interest you would pay based on your borrowing requirements. Try the calculator

We’ve been helping local people borrow better for over 20 years

We’ll consider you for a loan, even if you’ve been turned down elsewhere

99% of our borrowers are happy with our service

We are regulated by the Financial Conduct Authority

FAQs

Your consolidation loan with Great Western Credit Union can only be used for the purposes of paying off your existing credit.

It’s easy! Take 15 minutes to apply for a consolidation loan here. Once we have processed your application, you will receive a decision.

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Yes, you will be responsible for paying back your existing credit using the loan from GWCU. We will not be involved in this process.

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Check if you are eligible

To apply for a loan, you need to meet the following criteria:

  • Age 18+ and live, work or study in Bristol, Bath, South Gloucestershire, North Somerset or Bath and North East Somerset.
  • Or you're a UNITE and UNISON member from the South-West, or a tenant of one of our partner housing associations
  • You have a regular income over £450 per month
  • You have enough disposable income to meet the loan repayments

Choose how much you would like to borrow

We offer loans from £100 to £15,000, subject to status.

Our rates are fixed and depend on the amount you are asking to borrow.

Take a look at our loan calculator to see how much you could borrow and what the loan would cost.

Try our loan calculator

Have your documents ready

You’ll also need an email address and mobile number to apply. Make sure you have your National Insurance number, income details and your bank details handy, plus proof of identity. 

If you are unable to provide these during your application, you can save and get in touch to discuss your options. 

Get in touch

Start your application

Now that you have everything you need, you can get started on your application. It takes about 15 minutes to apply online and get a decision, and you can save your application at any time and come back to it later. 

Get started

Not sure this is the right loan for you? Have a look at our other products

View our other loans

Need some help with your application?

Get in touch