Fair interest loans

Borrow up to £15,000 through salary deduction.

7.9% to 29.9% APR representative for a loan between £100 and £15,000 over 1 to 5 years.

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Borrow money with peace of mind

Use the money for whatever you need, like buying a car, fixing something at home, or a wedding.

By partnering with your employer, GWCU gets to know you a little more. This means we might be able to loan you money even if a traditional bank has said ‘no’ before.

Your repayments will be manageable as they’re deducted directly from your salary.

Choose how much to borrow and set repayments

You can borrow from between £100 and £15,000 at 7.9% to 29.9% APR representative. Repay your loan over 1 to 5 years.

Loans are subject to status.

Find out how much you will repay

We will show you:

your personalised interest rate
how much your repayments will be
how much the total loan would cost

Loan amount

£100 - £15,000

Interest rate

7.9% to 29.9% APR representative on loans between £100 and £15,000.

Your rate is personal to you. It’s based on things like your credit score, income, and loan amount, so it might not match the Representative APR.

No matter what, we’ll never offer a rate above 29.9% yearly (fixed).

The rate you see in your quote is an estimate and not a guarantee.

Representative example

Representative APR: 29.9%

Representative example: Borrow £1,500 over 24 months, and repay £81.18 per month, total amount payable (including interest of £448.32) is £1,948.32. 29.9% APR representative.

Your actual rate will depend on your credit profile. Rates range from 7.9% to 29.9% APR.

Other examples:

Borrow £4,000 over 24 months, and repay £206.84 per month, total amount payable (including interest of £964.16) is £4,964.16. 23.9% APR representative.

Borrow £10,000 over 48 months, and repay £242.58 per month, total amount payable (including interest of £1,643.84) is £11,643.84. 7.9% APR representative.

Repayment period

1 month - 5 years.

There are no fees for paying your loan off early.

Borrow with your local credit union

Enter your employer to get started:

How are GWCU loans different to other loans?

Low interest rates, which are fixed for the duration of your loan repayment
Borrowers repaying via salary deduction can get discounted rates
No hidden fees or early repayment fees, you’ll know exactly what to expect
Apply easily online with a loan calculator to see how much you can borrow
Automatic salary deductions make money management simple and clear

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

You have to be aged 18 or over
You must be employed by one of our employer partners
You have to have a regular income over £450 per month
You have to have enough disposable income to meet the loan repayments

There are two other eligibility criteria, but these are optional:

If you are a UNITE and UNISON trade union member from the South-West
If you are a tenant of one of our partner housing associations

Personal mobile phone number

We need this so we can contact you easily.

Personal email address

This is important so we can send your loan documents to you.

Your national insurance number

This is to prove your identity.

How to find your national insurance number.

Evidence of your income

We use Open Banking to securely confirm your income, so there’s no need to provide bank statements or payslips.

Your bank details

We need these so we can set up your loan repayment.

Not sure if you have this information?

Get in touch

What is a salary deduction loan?

A salary deduction loan is a discounted loan offered as part of a financial wellbeing service, provided in partnership with your employer and GWCU.

Repayments are easy and come straight from your salary via payroll, so there’s no extra hassle.

Who can apply for a salary deduction loan?

You can apply for a salary deduction loan if your employer is one of our listed employer partners. If they are not listed, you can browse and apply for one of our other loan products.

Can I use a salary deduction loan to consolidate debt?

Yes, if you want to combine your debts into one easier payment, you may qualify for our consolidation loan. Just let us know in the application that you need this loan for debt consolidation and answer some questions about your current debts.

Can I make extra payments to my salary deduction loan?

Yes, you can choose to overpay with payments through the online member portal. You can also pay off your loan entirely at any time, without extra charges or penalties.

Can I apply for a salary deduction loan if I have a poor credit rating?

Even if you have had difficulties managing credit or bills in the past, you may be able to qualify for a loan with Great Western Credit Union, subject to affordability.

We do carry out a credit check, but a poor credit history does not necessarily mean we won’t lend to you.

We do not judge our members. We take every applicant’s personal circumstances into account when we make our decision.

Why didn't I get the rate I was expecting?

We tailor your APR to you. It’s based on your credit history and personal circumstances, so you’ll always get a rate that reflects your situation.

More than half of our approved customers receive the representative APR. If you’re offered a different rate, it may be because you applied for an amount with a different representative APR, or your individual circumstances mean a different rate is a better fit for you.