Loans

If you are already a member with us, you can apply online or though the Mobile App. 

If you are new to Cambrian you can become a member and apply for a loan at the same time. Click here and use our loan calculator

You can apply to borrow as much or as little as you need. Borrow from £200 to £15,000. All loan decisions are based on your income, expenditure and your ability to repay.

To apply, you must be at least 18 years old, reside or work in Wales, and not be subject to a Debt Relief Order (DRO), an Individual Voluntary Arrangement (IVA), or bankruptcy.

• Your recent bank statements from the past two months that demonstrate your income and expenditure OR Open Banking

• For a Debt Consolidation Loan: all creditor statements you wish to consolidate showing name, address, outstanding balances and their bank details

• For loan applications over £5,000 we do require applicants to provide Open Banking via our Online banking App

• Proof of Address and Proof of Identification may need to be provided additionally.

• Loan applications are generally turned around in 72 hours  although in times of high demand this may take longer.

• Your application is then given to our Loans Team with all applications subject to an affordability check.

• For existing members we will run a hard credit check via our Credit Reference Agency TransUnion.

• For new members we will run an initial soft credit check via our Credit Reference Agency TransUnion.  Once this becomes a full application a hard credit check will be completed.

• The team will then contact you for any additional information that they require.

Every Cambrian loan is subject to manual affordability and credit checks. Your likelihood of approval increases if:

• You are able to comfortably afford the repayments alongside your other existing financial obligations

• You haven't engaged in risky behaviours that could make it difficult for you to repay, including excessive gambling

• We may share the information you provide on this application with credit reference and fraud prevention agencies to help us make a decision. What we do and how both we and credit reference and fraud prevention agencies will use your information is detailed in the document called the Credit Reference Agency Information Notice (CRAIN).

Yes, you can repay your loan in full at any time without penalty. You can also make additional deposits to reduce the value of your outstanding loan at any time – again without penalty.

We believe in helping our members build a stronger financial future by turning loan repayments into a lifelong savings habit. As part of your agreed weekly or monthly payment, a small portion—either a minimum of £2.50 per week or £10 per month—is automatically tucked away into a regular savings account to help you create a financial safety net. While these funds are generally held until your loan is fully repaid, leaving you with a helpful lump sum, your consistent saving also makes you eligible to enter our £100 monthly prize draw. It’s our way of supporting your long-term well-being while giving you an extra chance to grow your money.

To use our products and services, there is no joining fee. Members must maintain a minimum of £5 in their account at all times to keep it active.

A yearly membership fee of £5 is charged on the anniversary of joining.  Junior members (Aged up to 15 years) do not pay a membership fee until they become an Adult Member (from 16 years of age) 
Deposits can be made via a Payment Link which is sent once the online application is submitted.  Standing Order and Benefits are accepted.

For more information of our fees please click on this link

IF asked please provide one of the following: Photographic ID

• Current signed passport – if the passport is not UK/Irish then we will also need to see their UK VISA immigration documentation.

• EEA member state identity card (which can also be used as evidence of address if it carries this)

• Current UK or EEA photocard driving licence (Full and Provisional) – the address on the Driving licence must be checked against the record in Progress, if this does not match the Driving licence is not valid.

• Photographic registration cards for self-employed individuals in the construction industry -CIS4

• Firearms or shotgun certificate

• Residence permit issued by the Home Office to EEA nationals on sight of own country passport

• UK Citizen Card

• Armed forces identity card – unexpired

Non-Photographic ID

• Full old-style driving licence – not provisional

• Official letter from Benefits Agency/DWP/Local Authority confirming your right to UK benefits, local benefits, UK Pension  - dated within the last 12 months.

• UK Student loan/ grant paperwork – dated in last 12 months

• HMRC coding/assessment/statement/tax credit letter (not P45/P60) (dated within the last 12 months)

IF asked please provide one of the following: Proof Of Address

• Utility bill (gas, electric, satellite television, landline phone bill or broadband bill) dated within the last six months.

• TV licence or confirmation of TV licence renewal letter as long as dated in the last 12 months.

• Water bill dated in the last 12 months.

• Local authority council tax bill for the current council tax year – this must be the bill only not letters relating to the tax.

• Current UK driving licence (but only if not used for the ID evidence)

• Bank, Building Society or Credit card statement or passbook dated within the last three months.

• Original mortgage statement from a recognised lender issued for the last full year.

• Solicitors letter within the last three months confirming recent house purchase or land registry confirmation of address

• Council or housing association rent card or tenancy agreement or Occupation Contract for the current year

• Official letter from Benefits Agency/DWP/Local Authority confirming your right to UK benefits, local benefits, UK Pension  - dated within the last 12 months. Only if not used as Proof of ID.

• HMRC self-assessment letters or tax demand dated within the current financial year

• Electoral Register entry or 
  NHS Medical card or letter of confirmation from GP’s practice of registration with the surgery – note this is not appointment letters from hospital

• HMRC coding/assessment/statement/tax credit letter (not P45/P60) (dated within the last 12 months) Only if not used as Proof of ID. 
  

• Letter from a Prison Governor or Probation Officer (must be on official headed paper)

• UK Student loan/ grant paperwork – dated in last 12 months

• For Homeless – letter from support/social worker dated in last 3 months 

• Members can only apply for a loan after 60 days from their previous loan application, as each application generates a credit report which impacts the member’s credit score. Additionally, if a loan application is declined, the member must wait 90 days before reapplying to allow their credit rating time to recover.

• As ethical and responsible lenders, we require up-to-date information regarding a member’s financial circumstances when reviewing each loan application. We believe it would be detrimental to a member’s financial health if credit reports were generated too frequently.

As some members may have limited or no credit history we ask may for a benefit to be paid in rather than a Standing Order or Direct Debit.  This will help the member to build their credit history with Cambrian. while also providing a secure repayment method.

 The maximum Annual Percentage Rate (APR) that the Credit Union will charge is 42.6%

Yes - Cambrian offer a 1% discount on your loan rate if you are employed by one of our 50+ Payroll partners.  This only applies to our Personal Loan Product.

Yes - Cambrian offer a 1% discount on your loan rate if you are a Homeowner.  This only applies to our Personal Loan Product.