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Our Loans


All members aged 18 or over are able to apply to the credit union for a loan.  We take the time to consider your individual circumstances and our priority is always to ensure that any loan issued is affordable.   


We consider loans of up to £2000 however if you are unemployed, or are reliant solely on benefits as an income the maximum loan you may apply for is £650 with our Saver Loan or £500 with our Family Loan.


We consider loan applications based on your current circumstances, not just your past so if you have limited or a less than perfect credit history we may still be able to help.


West Cheshire Credit Union offers two types of loan, our standard Saver Loan and our Family Loan.

Saver Loans of up to £2000


These are our standard loans designed for members who have saved with us for a minimum of 6 consecutive weeks after which time you can apply to borrow up to four times your savings balance to a maximum of £20001.


Repayments can be made weekly, fortnightly or monthly to suit your circumstances over one to three years2

 Some basic rules;


  • Must save for 6 weeks prior to application
  • Application must be equivalent to no more than 4 times your savings balance.
  • If your household is reliant on benefits as the main income, then there is a maximum loan application amount of £650.
  • Loans of £650 or less are repayable over 1 year only

Family Loans


These loans are for members who are in receipt of Child Benefit and who are not in a position to save for 6 weeks prior to application.  Applicants can apply for a loan of up to £500 straightaway.


If your application is approved your Child Benefit will need to be transferred directly into your credit union savings account.  With this plan we ensure that your loan repayment is covered and then place the balance of your benefit directly into your credit union savings account.  Should you need to access these savings we can of course quickly transfer it in to your bank account whenever you need it, and best of all while it’s in your saving account it will be counted towards your dividend, so it will go that bit further!


Some basic rules:

·         You must become a member to apply for a loan


·         You can apply for a maximum £500


·         Set term of 12months/52 weeks


·         Must have qualifying benefit paid directly into your credit union account


·         Will be required to attend one of our offices to arrange benefit transfer and sign documentation


·         You can save while repaying your loan.


·         You must provide a fully completed application form together with 2 months most recent bank statements and proof of income.

How do I apply for a loan?

The simplest way to apply for a loan is to complete our online loan application which you can do via the link below, alternatively you can complete a loan application form available from our membership points in Chester, Ellesmere Port and Winsford or download and print one off here

As part of the application process we require a couple of supporting documents including your last 2 months bank statements and wage slips.  If you complete the online application we will guide you through how to submit your bank statements electronically via open banking.  If completing a paper application you can supply your supporting documents in hard copy with the application or via open banking, whichever you find most convenient.  Please note that our loans officers may ask for some additional information to help them reach a decision.   



How long before I know the outcome of my application?

For amounts under £1000, where no extra information is required, a decision should be available within three to five working days.  Loans for over £1000 may take up to seven working days to process.


How will I receive my money?

If the decision on your application is positive, you will be required to sign a loan agreement form.  This is a legal document and outlines the details of your loan, such as the amount borrowed, repayment amount, period of loan and total amount repayable.


Once you have read this document (it is advisable to take advice from an independent source if you are unsure of the contents) and signed to confirm your authority to the agreed sum, then we will be in a position to provide you with your loan.  You will receive your money in the manner you indicated on your original application. 


This could be by:

·                     Direct payment into your bank (easiest form of transfer)

·                     Cheque payable to yourself or a third party

·                     Placed on your prepaid debit card (Engage)


For security reasons loans will not be paid directly via cash

If you need further information or would like us to post you an application form you can call us on either Chester 01244 399006 or Ellesmere Port 0151 352 0391.