Secured Against Savings
Do you have savings in your credit union account? Why not secure your loan against it and borrow from £50-£15,000 at our lowest rate of 3.9% APR.
Loan application process
Be a Member with shares
You must be an existing Member with shares in the credit union to apply for the Secured Loan
Login to Online Banking
Login to or register for Online Banking to access the online Loan Application
Apply for loan online
Complete your application with the relevant attached documentation
Sit back and relax!
We will get back to you within 2 working days with our decision
Who can apply for a Secured Loan?
Members of Cambrian Credit Union with savings in their account can apply for the Secured Against Savings Loan. By securing against your savings you can borrow from £50-£15,000 and benefit from our lowest rate of 3.9% APR.
The benefits of borrowing from Cambrian CU
A minimum borrowing amount of only £50 with affordable interest repayment rates
Easy application online or in branch
No early repayment fees or penalties and no hidden fees
Repayments are flexible and tailored to suit the individual’s needs
Interest is charged only on the outstanding reducing balance
Decisions made within 2 working days
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For your convenience, below is an illustrative example of the costs associated with a loan of a specific amount.
Interest rate - APR
Total cost of credit
The requirements of a Secured Loan
- Must be a Member with shares
- Apply Online
- Member to have funds available in share account to cover the loan value
- Benefit notification may be required
- Additional information may also be requested if partners income added or loan purpose.
Have a question? Check below to see if it is answered in our Frequently Answered Questions.
You can apply to borrow as much or as little as you need. Our maximum unsecured loan is £15,000 and the minimum amount £50. All loan decisions are based on your income, expenditure and your ability to repay.
You can become a membership and apply for a loan at the same time. Cambrian Credit Union does not currently require a member to save before they apply for a loan.
We usually complete and have funds in place within 2 working days.
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.
Every member of Cambrian Credit Union must keep £5 in their share account at all times. – annual membership fee of £3 taken on the anniversary of joining the credit union.