Applying for a loan with Clackmannanshire Credit Union

One of the main benefits of being a member is the ability to obtain a loan. We give out loans for a variety of purposes including home improvements, car purchases, holidays and debt consolidation. 

What sort of loans are available?

Clackmannanshire Credit Union offers Secured and Unsecured Loans.

If the proposed loan balance is lower than the share balance, the application would be for a Secured loan.

The interest rate for an Unsecured loan is 12% (12.68% APR)

A Secured loan has an interest rate of  8% (8.34% APR)

Who can apply?

Any adult who has been a member for a minimum of three months is eligible to apply for a loan.  Please note, however, that no member is guaranteed a loan and that each application is considered on its merits.

How are loan applications decided?

Applications for unsecured loans are considered by the loan committee who meet on a Wednesday afternoon. Loans that are over £5000 above the members share balance are decided by the board which meet on the first Wednesday of the Month. The factors that are taken into account include:-

  • Length of membership
  • Share balance
  • Household income and expenditure
  • Savings history  
  • Loan history of previous loans

Application forms for loans

Here are the application forms for both secured and unsecured loans. Simply print out the form, fill it out and send it off to us. (For unsecured loans you will need to provide evidence of your income and bank statements for the 3 month period prior to the date of your application.) If you have any questions feel free to get in contact with us.

Secured Loan Application form

Unsecured Loan Application form