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Barrow & District Credit Union offer four simple loans for our members.

As a community enterprise they are designed to offer affordable credit to those who need it at better rates than you’ll find on the high street, and to make loan sharks and doorstep lenders in our area obsolete.

Loan &interest rate Emergency:42.6% Members: 26.8% Advantage: 23.1% Flexi: 12.7% Criteria For emergency ONLY. No saving required. Members who save regularly and for a minimum of 12 weeks prior to application (if £100 saved in 12 weeks, higher value loan may be available). Members who have previously had a loan for 12 months with no missed savings or missed loan repayments.

Debt consolidation but must be permanently employed. Debts are paid off directly by BDCU. Regular/permanent employment, with regular savings, (NOT for debt consolidation). Value Up to £250. £500 first loan.

Up to £7500 on subsequent loans. £1,000 - £7,500. £2,000 - £7,500. Term Up to 6 months 12 months + 12 months+ 12 – 60 months Savings with a loan £1 per week or £5 per month. £1 per £100 borrowed. Every month up to £25. £1 per £100 borrowed. Every month up to £25. £1 per £100 borrowed. Every month up to £25.

The maximum available for second and subsequent loans will be subject to affordability and how well previous loans have been managed.

All loans may be dependent on the amount of shares held by a member and their past credit history.

Self-employed must provide evidence of self-employment earnings.

PLEASE NOTE: All loans (with the exception of emergency loans) will require an up to date 'Clear Score' credit report.