CURight Loans

This is the loan for new members who have not built up any savings. It may also be useful for members wanting to borrow more than they can with a Savers Loan.

If you are employed for 24 or more hours per week, or in receipt of along term benefit, then you can apply to borrow up to £2,500 over 24 months. If you are employed less than 24 hours per week (or not working) then you can apply for a loan of up to £1,000 to be repaid in 12 months.

Interest is charged at 2% to 3% per month (APR 26.82% to 42.6%) depending on circumstances and credit history.

You will be required to save a small amount with your loan repayments, you will not be able to withdraw these savings until the loan is fully repaid so that at the end of your loan you will already have built up some savings.

Example Repayments

Loan amount Agreement length Interest Total due Monthly repayments
£1000 18 months £309.09 £1309.09 £72.73
£500 12 months £102.91 £602.91 £50.25

The APR is 42.6%.

Please note that the above figures are for guidance only and assume that the required number of payments will be made. Contact us and ask for a personal quotation.

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

If you are already a member of Gloucestershire Credit Union you can Apply for a Loan Here

If you are not yet a member of Gloucestershire Credit Union you can Join the Credit Union and Apply for a Loan Here