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Secured Loans

Secured loans


Any amount you apply for which falls below or is equal to your share balance.

The amount of shares up to the amount of the loan is held as collateral.

Obtaining a secured loan is a quick process which involves completing a form in the office with one of our tellers and agreeing on an affordable repayment plan.


Funds can be paid instantly either in cash, cheque, bank transfer or a combination. No supporting documents are required. 

BDS Credit Union Loans
BDS Credit Union savings

Un-Secured Loans

BDS Credit Union welcome and consider loan applications up to £27,000.00 (maximum £15,000 above shares)  


Each application is treated in the utmost confidence and will be considered on it own merits. 


Supporting documents are required.


A personal loan for personal reasons. Whatever it is you dream about, such as home improvements, getting married, taking a holiday or something else entirely - we’re here to help!



General Information about loans :

  • Subject to affordability & share balance

  • More competitive interest rates than a payday loan or doorstep lender

  • Repayments to suit you - weekly, fortnightly, 4-weekly or monthly

  • Members can apply for a loan either by telephone or visiting the office. ​​ 

  • Members will be required to sign a promissory note which is a legally binding agreement to make repayments.
  • The interest charged is 12.68% APR representative (1% per month) on the reducing loan balances 

  • Any interest rebate approved at AGM will apply.


  • You must be 18 years old or over. 

  • If topping up your current loan, it must be up-to-date and not have any arrears. 

Supporting Documents 

  • 3 months bank statements 

  • 3 months payslips 

  • Previous 2 years Year-end accounts if self-employed 

  • Other outstanding credit statements


We will: 

  • Have a Loans Officer discuss your application in the office or over the telephone 

  • Base your application on your needs, affordability to repay and savings record with us 

  • Base each loan decision on its own merits 

  • Ensure a quick response to your application 

  • Advise members what steps you may need to take to become eligible for a loan 

  • Insure an outstanding loan balance should a member die, subject to certain cover limits, meaning dependants or next of kin will not be obliged to repay the outstanding balance 

There are no charges or fees for early repayment:

  • Interest is calculated on the outstanding loan balance, so you pay even less interest by repaying your loan quicker than originally planned. 


Members who fail to make payments or contact the Credit Union will be subject to our Credit Control Procedures. Legal fees may be added to your account. 


Members should contact BDS Credit Union if their circumstances change. Communication is vital. We are here to help. 


Example of repayments, just select the amount you wish to borrow and the term.


Terms & Conditions Apply

– All figures given on this website are for your general information only, and give a rough guide to loan repayments. Any statements on this website do not purport to be authoritative or legally binding. BDS Credit Union accepts no responsibility for errors due to changes in rates which have occurred after this date. You are advised to check with our offices for up-to-date rates.

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