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Fair loans and flexible savings

Banking run for local people, by local people.

Fair and transparent loans: The CURight Loan

If you’re not a member of Gloucestershire Credit Union or the amount you’d like to borrow doesn’t fit our Savers’ Loan criteria, the CURight Loan is the option for you.

The total amount of a CURight loan that can be applied for depends upon your circumstances:

If you work more than 24 hours/week:

  • you can apply to borrow up to £2,500 over 24 months (2 years)
  • you’ll be asked to add an amount to your savings account each month to create a lump sum when the loan is paid off (you won’t be able to withdraw this amount until the loan is repaid).

If you work less than 24 hours/week:

  • you can apply for a loan of up to £1,000 to be repaid in 12 months (1 year)
  • you’ll be asked to add an amount to your savings account each month to create a lump sum when the loan is paid off (you won’t be able to withdraw this amount until the loan is repaid).

If you are in receipt of a long-term benefit:

  • you can apply to borrow up to £2,500 over 24 months (2 years)
  • you’ll be asked to add an amount to your savings account each month to create a lump sum when the loan is paid off (you won’t be able to withdraw this amount until the loan is repaid).

If you’re not working:

  • you can apply for a loan of up to £1,000 to be repaid in 12 months (1 year)
  • you’ll be asked to add an amount to your savings account each month to create a lump sum when the loan is paid off (you won’t be able to withdraw this amount until the loan is repaid).

Our approach is people-focused so we won’t spring any nasty surprises on you hidden away in the small print – because there is no small print. When you take out a loan with us, from the start you:

  • will know how long it’ll take to repay your loan
  • will know how much the instalments will be
  • won’t be penalised for repaying the loan early
  • won’t pay any set-up costs or hidden fees.

Interest is charged at a rate of 2% to 3% per month (APR 26.82% to 42.6%) depending on the loan terms, your circumstances, and credit history.

Loan Calculator

Loan Amount

£0 £10000

Loan Period

6 Months 60 Months
Your monthly repayment will be .
The monthly interest rate used in this example is .
This is equivalent to an APR of
The total you will pay back will be .

Please Note: the above figures are for guidance only; they are based on a representative interest rate and assume all payments will be made on time.

The actual interest charged will depend upon you personal circumstances and credit history and may be higher or lower, Please Contact us and ask for a personal quotation.

If you choose to pay off your loan earlier than planned, you won’t be penalised and you’ll also pay less interest.

If you’re not a member of Gloucestershire Credit Union, you can still submit a loan application. It’ll be dealt with using our normal process and if it’s accepted, we’ll then ask you to join. This costs £5 admin fee and a £5 deposit into your new savings’ account.

"I am saving regularly which makes me feel a whole lot better!"

"I was in a very difficult financial situation as I needed to stop paying out just interest on my overdraft. The banks didn’t want to help me so I decided to contact Gloucestershire Credit Union and they agreed I could take out a loan with them. So now, not only am I paying off the loan capital, but I am also saving regularly with them which makes me feel a whole lot better!"

A member, Stow-on-the-Wold