Cambrian Credit Union exists solely to serve its members. One of our services is to allow members to access loans at affordable repayment rates (maximum of 42.6% APR). As we are a not-for-profit organisation, any surplus made after running costs are met is returned to our members by way of a dividend which is usually set at the annual general meeting.

In order to activate your account we need to receive a minimum payment of £8.00 into your credit union savings account. This will cover the £3.00 annual service fee and the £5.00 minimum savings deposit.
If your loan is approved the funds will be deposited into your savings account with us. If we have not received the £8.00 minimum payment this will be deducted automatically at that time.

Borrowing money, when done responsibly, can help build or restore a credit rating and can be applied for a variety of purposes.

Credit union loans have key benefits including –

  • A minimum borrowing amount of £50
  • No early repayment fees or penalties
  • No hidden fees
  • Affordable interest repayment rates
  • Free life insurance protection (certain restrictions apply – more information)
  • Repayments are flexible and tailored to suit the individual’s needs
  • Loan interest rate is fixed
  • Interest is charged only on the outstanding reducing balance

Loan repayments can be made the same way as making a deposit into your savings account. This can be through our offices and collection point, your bank or building society or via payroll deduction.

When making a decision on a loan application we will contact Credit Reference Agencies. For more information on this click here.

If you are having problems with existing debt then visit our Financial Health page.

If you have any other questions see our Frequently Asked Questions page.



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