Introducing: personalised rates for loans
Introducing: personalised rates for loans
At Great Western Credit Union, we know no two members are the same. Everyone’s circumstances, needs and financial situation are different, so we believe borrowing should reflect that too.
That’s why we’ve introduced personalised rates for our personal loans. It’s a more thoughtful way to lend, designed around real lives and individual situations.
What are personalised rates?
With personalised rates, the interest rate you’re offered is tailored to you.
When you apply for a personal loan, we look at a range of information to understand your situation better. This includes things like your credit history, how affordable the loan might be for you and how much you want to borrow. By looking at the full picture, we can offer a rate that’s more suited to your circumstances.
This means the rate you’re offered may not always match the representative APR but instead of applying the same rate to everyone, we focus on what is fair and affordable to you.
Looking beyond just a number
We know a credit score alone doesn’t tell the whole story. Life isn’t simple, and finances rarely are either.
That’s why our approach looks beyond a single number. We take time to understand your wider circumstances so we can lend responsibly and support your financial wellbeing, both now and in the future.
Why we’ve introduced personalised rates
Personalised rates reflect who we are as a credit union. Rather than treating everyone the same, we take the time to understand each member and their needs.
Our mission is to make finance fairer and more accessible. By tailoring rates, we can offer support that aligns with our values as a co‑operative, helping members borrow with confidence and avoid being pushed into unaffordable or high‑cost options.
It’s about offering fair, affordable and long‑term support, not quick decisions.
What you’ll see when you apply
When looking at loans, you’ll see a ‘representative APR’. This is a guide rate that we show as an example, based on at least 51% of our members being likely to receive that rate. It’s there to help you compare options, but because we look at your individual circumstances, the rate you’re offered may be different, giving you something more tailored to your situation.
Once we’ve reviewed your application in full, we’ll confirm your rate based on your personal circumstances and credit history, so it closely reflects your situation.
The aim is always the same: borrowing that feels manageable and works for you.
A more human way to borrow
As a member‑owned credit union, we’re here to support people with fair, affordable support. Introducing personalised rates is part of our ongoing commitment providing personalised support to each of our members.
We believe borrowing should feel clear, supportive and built around real needs. When finance works that way, it puts people in a better position and strengthens our communities.