We offer different types of loans, dependent on your circumstances. There are loans for homeowners, loans for members who have been saving with us and loans for those who are neither of those.
If you apply for a loan, we will collect information about you. Please see our Privacy Notice
Click below to see which kind of loan is likely to be best for you.
Members who have saved regularly with us for at least three months can borrow three times their savings for an initial loan and five times for a subsequent loan. Other members may also qualify for this loan if they can show that they are able to meet certain financial criteria. Interest on a saver loan will normally be charged at 1% per month. (APR 12.7%) → How much can I borrow with a Saver Loan? → Apply online for a Saver Loan
For those who are in employment and can show that they are able to meet the repayments, but who do not meet the criteria for saver loan. For those who can show that they are able to meet the repayments, but who do not meet the criteria for a saver loan. Please note that the maximum loan will normally be £500 for those whose income is wholly or mainly from state benefits. In some circumstances, we may require a suitable guarantor If you are not already a member of St Albans District Credit Union, you will be required to join before a loan can be issued. Join Today Interest on a standard loan will normally be charged at 2% per month but in some cases (e.g. people with a good credit history and/or people with a regular income, etc.) the rate can be 1% per month. → How much can I borrow with a Standard Loan? → Apply online for a Standard Loan
Loans of £5000 or more for people who own their own home outright or with a mortgage that is less than 80% of the home’s market value. Such homeowners also need to have a good credit history. Interest on loyalty and guaranteed loans will normally be charged at 0.48% per month. However, interest rates may vary dependent on individual homeowners’ circumstances. If you are not already a member of St Albans District Credit Union, you will be required to join before the loan is issued. Join Today We do not charge fees for arranging loans and loans can be repaid early at any time without penalty. → How much can I borrow with a Homeowner Loan? → Apply online for a Homeowner Loan