Member Loan
Need an affordable loan to smooth out those larger financial purchases? A Member Loan might be the perfect solution for you with longer repayment options.
Apply now
Benefits for you
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Stress-free financial flexibility and security
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Convenient and hassle-free fixed repayment process
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Save on interest costs with no fees or penalties for early repayment
Your Member loan
- £2,501 – £20,000
- 6.2% – 26.8% APR
- 84 months max repayment term
- Loan repaid by direct debit monthly, four-weekly, or weekly
You’re eligible to apply if you…
- Are 18 years or over
- A member of GMB Credit Union
- Can provide proof of ID and regular income
- Agree to save a minimum of £10 per month
Terms & Conditions
- No fees or penalties for early repayment
- Subject to a credit search and Open Banking
- Members with a loan are asked to save a small amount each month or week on top of their loan repayment. Savings are locked and act as security for the loan. Members can withdraw from their savings when their loan balance falls below their savings balance.
Member Loan
representative example
- Loan Value: £5,000
- Repayment Term: 48 months
- Monthly Repayment: £131.67
- Interest: 12.7% APR
- Total amount: £6,320.11
The figures above are for illustrative purposes only the actual repayment amounts will vary subject to loan amount and term.
Apply
Apply for our Membership Loan today. It’s fast, easy and you can do it all on our website. Get the money help you need right here.
Why choose us?
GMB Credit Union is more than just a financial institution – we’re a community where members help each other. We make sure that money circulates for the benefit of the community by pooling member savings and then lending to other members. Support local economies and boost access to affordable credit with your GMB Union membership.
Download our app
Get a Handy Loan with our GMB Credit Union mobile app. It’s simple and secure to use. This makes applying for our loans a breeze. Plus, you can manage your loan and check your repayments easily and safely, all from your device.