New members can borrow with no previous credit union savings history by using our Handy Loans service. These quick loans are usually available within 5 working days; dependent on a satisfactory application. Click here to apply for a Handy Loan
New members who have saved a minimum of £50 for two months and have demonstrated a pattern of regular saving can apply for a standard credit union loan.
Lump sum deposits are acceptable. For new members these must be deposited for at least three months before they can be used as a basis for loans. For existing members, they must be deposited for one month.
It is free for all children under 16 to join the Allerdale Credit Union - and all the money saved by them is available to withdraw again at a later date. Junior savers are issued with their very own Passbook and 'deposit' and 'withdrawal' slips.
"Credit unions provide an excellent alternative to high-cost lenders and the 'too big to fail' high street banks. Your savings are guaranteed and if you need to borrow, you know you can afford the repayments. I am excited that my savings will be recycled as a local loan, keeping my money working in the community."
You do not need to be an existing member to apply, nor have savings with the credit union. Just complete the online form and forward your last two months' bank statements to the office - by post or email.
If successful, your loan will be paid directly into your bank account by BACS 'Faster Payments' as soon as we have your signature on the Loan Agreement, you have arranged the repayment Standing Order, and you have joined the Allerdale Credit Union. We aim to have your funds available for you in your own bank account within 5 working days of receipt of your completed application.