Wirral Credit Union can only provide loans to our members. If you would like to become a member but aren’t looking to borrow right now click here to join online and open a savings account only.

If you would like to become a member and apply for a Starter Loan or Family Saver Loan then read on to discover our Join & Borrow options.

When Can I get a loan and how much can I borrow?

We offer loans to our members based on their circumstances and affordability. All our loans are subject to the terms and conditions of Wirral Credit Union and an application for credit does not imply acceptance.

Starter Loans

Starter Loans of up to £500 and credit union membership can be applied for online by new members, once repaid you may then become eligible for our Regular Saver loans. Typical APR is 42.6%.

Click here to become a member and apply for a Starter Loan

Family Saver Loans

Family Saver Loans of up to £500 and credit union membership can be applied for online by new members and are repaid via your Child Benefit. Once repaid you may then become eligible for our Regular Saver loans. Typical APR is 42.6%

Click here to become a member and apply for a Family Saver Loan

When applying for a loan online we will require new applicants to provide financial information to allow us to perform our affordability assessments. This will usually be in the form of 3 months bank statements and can be provided by utilising Open Banking, uploading documents or providing paper copies in branch. Open Banking data allows us to make faster, more accurate and fairer decisions on your loan application.

Regular Saver Loans

If you have been a member with us for a longer period of time or have built up savings before borrowing with us, you may be eligible for our regular saver loans, these loans are based on the savings amount you hold in your credit union account and are subject to our lower interest rates.

If saving via payroll deduction then members are eligible for a loan of up to 3 times the amount of their savings and can apply for a loan after one regular payment has been received.
If saving via standing order then members need to make 3 consecutive monthly payments into their savings account. After this time members can then apply for a loan of 2 times their savings. Typical APR is 12.68% – 26.8%

To apply for a Regular Savers Loan please contact the Credit Union Offices on 0151 638 4332 or 0151 201 1051. (Online applications coming soon)

Use of Credit Reference Agencies

We will use Credit Reference Agencies to assess credit applications. If you are granted a loan, we will also continue to exchange information about you with CRAs on an ongoing basis. For more on how we use your personal information, please visit

NB Terms & Conditions apply

We will not consider loan applications if you are in a Debt Management Plan or an Individual Voluntary Arrangement (IVA) or going through a Debt Relief Order or Bankruptcy or if you have recent county court judgements against you.

How do I apply for a loan or withdrawal of my savings?

Current Members can apply for a loan or withdrawal by contacting Wirral Credit Union in person at any branch office, via telephone or using our mobile app (Loan Applications coming soon). When the application is approved funds will be paid via BACS transfer into your bank account, usually by the next working day.  (NB: a BACS authorisation form must be completed to be eligible for this service).

Alternatively, a cheque can be posted to your home address or collected in person from one of our branches. We do not issue loans or withdrawals in cash at any of our branches.

New Members who wish to join and apply for a loan of upto £500 should Click Here

A minimum balance of £5 is required to keep your account active.

NB. Withdrawal of savings can only be made to the level of any outstanding loan balance.
NB. You must be at least 18 years old to apply for a loan.

How much interest will I pay?

The Credit Union offers low cost loans to its members and interest is based on a members personal circumstances. The standard rate of interest is between 12.68%APR and 42.6%APR. If a loan is paid off earlier than the agreed term there are no early repayment fees.

The tables below show an example of the total amount to be repaid on loan amounts over varying time periods.

Example 1: Loan interest calculated at 12.68%APR

Period 6 Months 12 Months 24 Months 36 Months
Loan Amount Total Payable Total Payable Total Payable Total Payable
£100 £103.53 £106.62 £112.98 £119.57
£500 £517.64 £533.09 £564.88 £597.85
£1000 £1035.29 £1066.18 £1129.76 £1195.70

Example 2: Loan interest calculated at 26.8%APR:

Period 6 Months 12 Months 24 Months 36 Months
Loan Amount Total Payable Total Payable Total Payable Total Payable
£100 £107.12 £113.47 £126.88 £141.20
£500 £535.38 £567.35 £634.41 £706.17
£1000 £1071.13 £1134.71 £1268.89 £1412.34

Monthly loan repayments have to be equal to any loan repayment due plus a minimum of £10 per month savings. This ensures that when the loan is repaid a member has an increased savings balance in their account compared to their savings balance at the time the loan was taken:

E.g. : Member has £50 in savings and wants to borrow £100:

Loan Amount £100
Loan Period 6 months
Total Loan Repayable £103.53 (12.68%APR)
Monthly Loan Repayment £17.26
+ £10 per month saving contribution 6 monthly payments of £27.26 = £163.56
£103.53 to pay back loan £60 extra into savings
Savings balance at end of 6 month period £110

 Can I change my monthly payments?

The amount you save through your regular monthly contributions can be changed by simply contacting any of the Credit Union branches.

– Members paying via payroll deduction:

  • Payroll deduction changes are requested by the Credit Union on behalf of the member. We will contact your employers’ payroll department directly when you instruct us to do so.

– Members paying via standing order:

  • Members must contact the Credit Union to arrange for a new standing order mandate to be produced. This is then completed by the member and returned to the Credit Union. We will then forward this to your nominated bank. Members should not change monthly standing order contributions directly with their bank without first informing Wirral Credit Union.

If you have taken a loan from the Credit Union then your monthly payments are calculated to ensure loan payments and saving contributions satisfy the legal obligations of the loan agreement and as such are fixed for the term of the loan agreed. Therefore, you are not able to reduce your monthly contributions while a loan is outstanding. You are able to increase your monthly contributions during this period and the extra funds will go directly into your savings account.

Can I pay extra money into my account on top of my monthly contributions?

Yes, members are able to pay extra money into their savings account if they wish to do so. However, any extra payments made will not be taken into account when calculating the amount of loan a member is eligible to apply for. The loan amount calculation is based on the consistent and regular contributions a member makes to their account.

I already have a loan with WCU, can I get another?

Members can apply for a top-up loan on their account. The amount available depends on the figures involved, account status and the method of payment, but as a guide we usually work out top-up loan amounts as: 2 or 3 times your savings balance minus current loan balance. Please contact the office to apply for a top-up loan. Top up loans typical APR is 19.68% – 26.8% You must have made at least three months’ repayments before applying for a top up loan.