Home Improvement Loan
- Borrow between £250 and £15,000
- Spread repayments over 5 years
- APR rates starting from 6.9%
- Savings contributions included
Why Choose a Home Improvement Loan?
- No early repayment penalties
- Reducing balance loans
- Savings contributions included
- No hidden set up or admin fees
- Free loan protection included
Loan Calculator
Whilst every care has been made in the production of this calculator, Thistle Credit Union and its 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. Please note that our loan calculator only applies to personal loans.
Range, Rates and Repayments
Whether you’re dreaming of a new kitchen, a new bathroom or covering unexpected repairs, Thistle Credit Union offer a range of loans that are built with your and your financial wellbeing in mind.
Range
You can apply for a loan between the value of £250 and £15,000.
Rates
We offer affordable tiered rates starting at 6.9% APR to 36% APR depending on borrowing amount.
Repayments
You can choose repayment terms between 3 months and 60 months.
Why Choose Thistle Credit Union?
Part Owner with Full Control
Your voice matters and as a part owner, have a say in how we operate.
Simplified Savings Solutions
Easy deposits with standing order, card payment and direct debit.
Borrowing Built for You
Our member focused, affordable loans are designed with you in mind.
Life Protection Included
Enjoy peace of mind with an extra level of financial security for your loved ones.
Banking at Your Fingertips
Manage your Thistle Credit Union account on our free mobile banking app.
Safe and Secure Savings
Your hard earned savings are protected under The FSCS.
Exceptional Member Service
Customer service that goes above and beyond, tailored to your needs.
Share in Our Success
Earn dividends on your savings whenever Thistle Credit Union turns a profit.
Community of Support
Join a community that values providing mutual aid and support to local people.
Eligibility
To be eligible for a loan from Thistle Credit Union you must meet all of the following criteria.
- Over the age of 18
- A member of Thistle Credit Union
- Living or working within our common bond
** Please note that loan acceptance is subject to terms and conditions.
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 Important Legal Information
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 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. Failure to repay your loan will negatively impact your credit score and your ability to borrow from both us and other financial institutions in the future. Thistle Credit Union is authorised by The Prudential Regulation Authority and regulated by The Financial Conduct Authority and The Prudential Regulation Authority. We follow the same regulations as other banks and building societies and require robust financial systems, staff training and internal and external audit systems. Our loan agreements are legally binding documents and by signing your loan agreement you are agreeing to repay the loan plus interest in instalments by either payroll deduction, standing order, paypoint, cash or direct debit. We recommend you seek independent advice before signing any loan agreement. Please find the full list of terms and conditions here.
Manage Your Loan on Our App
Managing your Thistle Credit Union account has never been easier with our free mobile banking app. Join over 4,000 members across the West of Scotland managing their account wherever they are.
- Check your balance
- Track income and outgoings
- Make quick withdrawals
- Easily deposit into your savings
- Calculate loan repayments
- Apply for a loan
- Track and make loan payments
Let's Get Started
Applying for a loan with Thistle Credit Union is quick and easy. Our online application form is designed with you in mind. Before your start, you’ll need:
- Your member number
- Proof of identity and proof of address
- Proof of employment and/or income
- Information about your current spending
- Your bank details so you can save with us
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.