Access the money you need to make some home improvements, take that dream holiday or even upgrade your car.
Our loans are much more affordable and safer than payday and doorstep options and very competitive with many you’ll find on the high street.
What works for you is good for your community too. Unlike other lenders, we don’t line the pockets of large multi national shareholders. The interest on your loan only benefits members in our local community.
We’re on your side, we’ll always consider you for a loan even if you’ve been turned down by other lenders.
While repaying your loan, your Share 1 account is locked until the savings are more than you owe.
No loan is guaranteed, and we encourage members NOT to spend the money before they have it.
Failure to repay loans takes money from other members of the credit union and the wider community.
At Right Way Credit Union, our goal is to promote financial resilience via savings and ethical borrowing via loans and encourage thrift amongst the members and wider community by building and maintaining a robust credit union service.
*All MEMBERS including first time borrowers & new members are required to save for 8 weeks (two consecutive months) before applying for a loan. For full list of Ts&Cs please see bottom of page.
Plan ahead: Due to the busy summer season, loan processing times may be longer than usual. Applications may take up to 7 working days for assessing, processing and final payment into your bank.
Our dedicated team at Right Way will be working hard to process your application as quickly as possible.
We appreciate your patience and recommend submitting your application well in advance.
£3,000 over 24 months =£150.50 per month.
(Approx Total Interest £612.00)
You must be 18 or over to apply for a loan and have been a resident in the UK for at least 12 months.
ALL MEMBERS including first time borrowers & new members are required to save for 8 weeks (two consecutive months) before applying for a loan. To set up a standing order, please contact the office by emailing info@rwcu.co.uk
Loan Value – Minimum amount £500.
To view our Loan Policy Click Here
When you have a loan running your savings are held as security against your loan, this means that no share withdrawals can be processed whilst your loan balance is higher than your savings balance, share withdrawals will only be authorised at the discretion of Right Way Credit Union.
When repaying your loan, you MUST also make a regular contribution to your credit union savings account.
Top Up Loans –
1st time borrowers with existing Personal Loan – Please email info@rwcu.co.uk to check if you are eligible.
Subsequent Loans – Maximum of 2 Top-Up Loans per year. Member must repay at least 33% of loan balance before a Top-Up is considered.
You must have NO missed payments or arrears on previous Top-Up Loans.
You must NOT be using a debt Management Company or are in the process of being declared bankrupt or entering into a Trust Deed or a Debt Arrangement Scheme as we will not be able to process the loan.
Direct Debit must be set up before loan is allocated, a member of our team will call you to set this up once the loan has been assessed.
Loan applications may be subject to a credit search.
When you take a loan with us, your information will be shared with credit reference agencies, which may affect your credit file. For more details on how your information is used, visit: www.equifax.co.uk/crain
For more information and to view our full Privacy Notice please CLICK HERE
For more information and further terms and conditions, please contact the office on 0141 889 7442 or you can send us an email to info@rwcu.co.uk
If you have received arrears letters on your current loan this may affect any future borrowing. It is your responsibility to ensure your loan is paid up to date. If you are in financial difficulty, please contact us on 0141 889 7442.
Right Way Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 446350
