34.8% APR

Pre-approved credit limit of up to £1,000

12 months

Our ‘Flexi Credit loan’ gives you access to a pre-approved credit limit of up to £1,000, allowing you to draw down funds when you need them rather than applying for a new loan each time. To encourage responsible borrowing, withdrawals can be made through the app after every four loan repayments, giving you simple and controlled access to your available credit.

Each year, we’ll carry out a review of your account to see whether a different loan product or a higher borrowing amount may be more suitable for your circumstances. While you have a Flexi Credit loan, you won’t be able to apply for another loan, as the Flexi Credit facility is your available borrowing with us until your annual review takes place.

No. Flexi Credit works differently to a standard loan, so there is no option to apply for a top-up.

When your Flexi Credit account is approved, you’ll be given a credit limit that you can access as needed. Twelve months after your credit limit is approved, we’ll automatically review your account and financial circumstances, so there’s nothing you need to do to trigger this review.

As part of the review, we may increase your credit limit, keep it at the same level, or discuss whether a different loan product would better suit your needs. We’ll always let you know the outcome of the review and any options available to you.

Yes, you can overpay or repay your loan early at any time. There are no charges for doing so, aside from any interest that has accrued on the outstanding balance since your last repayment. The interest is calculated and accrued daily at the rate you agreed to when you took out the loan.

To make an ad hoc overpayment, simply contact us for payment details and let us know when you have made a payment which you want to be applied to your loan. This will reduce the amount of interest owing overall.

In order to make a full early settlement of your loan, please contact us and let us know that you would like a settlement figure. A member of the team will confirm how much you need to pay to clear your loan balance.

Interest is calculated daily, so we will round the settlement figure up slightly to ensure any outstanding interest is included. This helps avoid a small balance remaining if there is a delay between receiving the settlement figure and making the payment.

If you pay more than is required to settle your loan, any remaining balance will be credited to your savings account.

Yes. However, some of your savings are held as security for your loan and cannot be withdrawn.

You’ll need to keep a minimum balance equal to two months’ loan repayments, plus £5 and the cost of any lottery tickets you hold, where applicable.

Any savings above this amount may be available to withdraw.

If you’re having difficulty keeping up with your loan repayments, the best thing to do is contact us as soon as possible. We’ll listen to your circumstances and do everything we can to support you.

Depending on your situation, we may be able to agree a temporary arrangement, such as reducing or pausing your repayments for a period of time. We may ask for evidence of any financial difficulties so that we can assess the support available.

If you miss payments or are unable to maintain the agreed repayment amount, this may be reported to credit reference agencies and could affect your ability to obtain credit in the future.

If we don’t hear from you, we’ll try to get in touch to discuss your account and agree a way forward. If payments remain unpaid and we are unable to make contact or reach an arrangement with you, we may need to take further action to recover the debt, which could include legal proceedings.

For additional information about your rights and protections in relation to this loan and your wider credit union membership, please see the Membership Terms & Conditions.