Affordable Loans with Thistle Credit Union
At Thistle Credit Union we offer a range of affordable fixed rate loans built to meet your needs. Whether you’re planning a dream holiday, making home improvements, paying for an important milestone or just covering unexpected costs; Thistle Credit Union is here to help.
Loan Calculator
Our loan calculator is designed to give you information on your repayments should you wish to apply for a loan with us. Rates will differ from this calculator depending on the type of loan you choose.
Whilst every care has been made in the production of this calculator, Thistle Credit Union and it’s staff cannot be held responsible for any omissions, errors or other mistakes made. This calculator is for illustrative purposes only in order to give you an overview of the potential cost of borrowing.
Why Choose a Thistle Credit Union Loan?
Fair Finances for All
Our not for profit approach provides a truly sustainable alternative to traditional and predatory lenders.
For Better Banking
Join a growing movement working to build a better and fairer financial future for everyone.
Fixed Interest Rates
Our interest rates are fixed for the entire life of the loan, meaning your repayments will never increase.
Save While You Repay
Continue to build on your savings while repaying your loan, helping you set money aside once your loan is paid off.
No Hidden Charges
Unlike other lenders, we have no hidden costs and will not charge any additional fees for repaying your loan back early.
Free Loan Insurance *
Included in every loan agreement, this means your loan could be paid off in the event of your death (T&Cs apply).
Build Your Credit Score
Our affordable loans help you build a track record of repayments to help you boost your credit score.
Regulated by The FCA
We’re fully regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
30+ Years' Experience
We have over 30 years’ experience providing high quality financial services to people across the West of Scotland.
Thistle Credit Union is at the forefront of the growing movement revolutionising how we bank.
Our not for profit approach puts our members at the heart of everything we do and helps to provide a truly sustainable alternative to traditional and predatory lenders.
By borrowing from us you are helping to build a better financial future for yourself and your local community.
Borrowing Built for You
What Our Members Say
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How to Apply
Required Documents
In order to process your application, we require a number of documents that will allow us to confirm your identity and assess your ability to afford the repayments.
Documents should be downloaded and emailed to staff@thistlecu.co.uk as a PDF file or paper copies handed into a branch. Please note that we cannot accept the original document.
Payslips and/or benefit award letters for the last three months.
Bank statements for the last three months for all active bank accounts.
The Small Print
At Thistle Credit Union, we offer affordable interest rates and are proud advocates of fair and responsible borrowing. Therefore, we assess every loan with care and consideration. We operation on a points based system in order to ensure fairness and that any loan taken out with us will not cause your financial situation to worsen. We assess all applications on a first come first served basis. Failure to repay your loan will impact your credit score and your ability to borrow from us and other financial institutions in the future. Please find the full list of terms and conditions here.
Frequently Asked Questions
How much can I borrow?
You can apply to borrow up to £15,000 however, we cannot guarantee that you will be awarded the full amount. We operate on a points based system in order to ensure fairness and that any loan taken out with us will not cause your financial situation to worsen. We assess all applications on a first come first served basis.
How do I repay my loan?
Repayments are made through payroll deduction, standing order, paypoint, cash or direct debit. Unless otherwise agreed between us, the whole of each payroll deduction standing order, paypoint, cash or direct debit may be applied towards the repayment of the loan and the interest due on it.
How do I manage my account?
You can manage your Thistle Credit Union account online, on our free mobile banking app, over the phone or in one of our six branches across the West of Scotland where our friendly and highly trained staff are more than happy to help.
I'm struggling with repayments
We understand that life circumstances can change quickly. However, missed payments will have a negative impact on your credit score and your ability to borrow in the future. If you are struggling with repayments, please reach out to our team by phone or email. We are committed to doing what we can to support our members and find a sustainable way to continue to repay your loan without causing additional financial harm.
When can I apply for a loan?
You must be a member of Thistle Credit Union and over the age of 18. We recommend that you build a habit of regular saving for at least eight weeks before applying for a loan, it is a credit union requirement that you hold at least £10.00 in your savings account before you are eligible for a loan.
When can I reapply for a loan?
If your loan application has been declined, we recommend continuing to consistently save for at least eight weeks before reapplying. If there is advice specific to your circumstances, our member services officers will inform you when they confirm your loan decision.
When will I receive the money?
Once you have signed and submitted your final document showing you have agreed to the terms of the loan, you should receive the money the next working day.
Why was my application declined?
We reserve the right to decline certain applications and if we do reject an application, this will be following an assessment of the application by our personal lending team. A loan refusal simply means that on this occasion we feel unable to offer the amount you have applied for. In some circumstances, we may offer a reduced amount.
New to Thistle Credit Union?
Join a growing movement revolutionising how we bank by setting up your Thistle Credit Union account.