Simplify your finances

Our Consolidation Loans can be a valuable tool if you're looking to manage debts more effectively.

By combining multiple debts into a single monthly loan repayment at a fixed interest rate, you could save money.

We'll even send the funds directly to your existing lender(s) to clear the debt, making it even easier for you.

Our loans are exclusive to our members!

Debt Consolidation

Unsure where to start? Enter the sum of your existing debts into our calculator and see how much you could save with our Consolidation Loan. Borrow between £3000 and £25,000 with fixed monthly repayments over a term of up to 7 years.

How much do you want to borrow?

Please enter an amount

Are you a member of Glasgow Credit Union?

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Loan amount

£15000

APR

Loan term	Monthly repayment	Total repayment

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Loans are only available to qualifying members aged 18 and over and you must save at least £10 a month in addition to your loan repayment. All loans are subject to you meeting our lending criteria and other terms and conditions apply.

How to apply

Become a Member

- Complete our online application to join.

- Create your Login details.

- Receive our Welcome Letter to your home address; this will include your unique member number and Activation Code.

Apply for Your Loan

- Download our mobile app and Login details.

- Input the Activation Code from our Welcome Letter to verify your account.

- Apply for your loan.

Receive your Decision

- You will receive a decision by email, usually within 1 working day.

- If approved, we will send a further email within 24hrs requesting which debts to clear and your digital signature (or via post if requested, which could take up to 5 days).

- We'll then send the funds directly to your existing lender(s) to clear the debt(s).

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A better way to borrow

5 reasons to choose us for your consolidation loan:

1. We send the funds directly to your existing lender(s).

2. Grow your savings alongside your loan repayments.

3. Fixed interest rates guaranteed not to change.

4. No early repayment fees.

5. Free loan protection insurance. In the event of your death, your loan will be paid off in full. Terms and Conditions apply.

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Is Consolidation Loan right for me?

It’s important to remember that whilst a Consolidation Loan could potentially reduce the amount of interest you are repaying and simplify your finances, it doesn’t eliminate debt.

Please assess your financial situation carefully and consider if consolidating your existing debt is the right choice for you.

StepChange Debt Charity have created a useful Debt Consolidation guide which highlights key considerations before applying for a Consolidation Loan.

READ Debt Consolidation Guide

Flexible loan amounts between £3,000 and £25,000.

You must be aged 18+ and save a minimum of £10 per month to your Member Savings, and meet the lending criteria.
Competitive interest rates.

We offer transparent and competitive market rates, which won’t increase after application.
Fixed repayment structure.

Choose your loan repayments over 1 to 7 years.
No early repayment fees.

If you wish to pay off your loan early, you won’t be charged early repayment fees.

Frequently Asked Questions

Before you can borrow with us, you first have to join and become a member. It’s easy to join, you simply have to save with us each month (minimum £10 per month). You can complete our online "Join" application form today. By choosing to save with us, you can then benefit from exclusive rates on our loans and mortgages and may share in annual Dividends paid back to members. You’re also welcome to give us a call on 0141 274 9933 if you have any queries. Our office is open 9-5 from Monday to Friday.
You make repayments by Direct Debit each month or Salary Deduction if you work for one of our Employer Partners. With a Glasgow Credit Union loan, you build your savings alongside your loan repayments. A minimum of £10 (you can increase this if you wish) is added to the value of the loan repayment. This extra savings amount is then deposited into your credit union savings account each month. Therefore, this means that you will have built up a savings nest egg by the time you clear your loan.

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Simplify your finances