Revolving Credit

Revolving Credit is designed to allow you to borrow funds as and when you need them. It’s a flexible way of borrowing because as you make repayments and reduce your balance, you have the option to keep withdrawing extra funds up to your pre-approved limit. It could be used as an alternative to a credit card. If you found yourself short of cash or facing an unexpected bill, you could withdraw funds from your Revolving Credit to help top up your bank account.

Key Product Information

All applicants must be aged 18 or over and a UK resident. 

APR 12.68% APR
Interest charging information Interest is charged at 1% per month. Interest accrues daily and is charged on a monthly basis.
Repayment information You can repay your loan by payroll deduction or Direct Debit. To see if we offer payroll deduction in your force click here. First payment due on the next available agreed date after the drawdown of loan.
Repayment period There is no maximum repayment term for Revolving Credit, however all accounts are reviewed every 36 months. This is to ensure the product still suits your needs. All borrowing must be repaid by your 70th birthday.
Amount of loan available You can borrow up to a maximum of £5,000 on this product but a maximum of up to £35,000 across all our unsecured loan products.
Application/Arrangement Fee No application or arrangement fees apply.
Other Fees None.
Default Fees None.
Early settlement You can repay the loan at any time fully or partially without charge. You can clear the balance at any time and make payments above the monthly minimum.

All loans are subject to affordability and our lending criteria.

Loan terms and conditions can be found here and should be read prior to application.

This loan is not a regulated consumer credit product. This does not affect your Financial Ombudsman rights.


The best bits

  • Clear and fixed interest rate for all members.
  • A flexible way of borrowing, which allows you to overpay and withdraw as frequently as you wish.
  • During the months when you have no outstanding balance, your monthly payments are placed into your Member Account to build your savings.
  • Life Protection included at no added cost (terms and conditions apply).

How it works

When you apply for Revolving Credit with us, you choose the limit you’d like to apply for and then you tell us the minimum amount you’ll commit to repaying. Our repayment chart (see below) outlines the minimum amounts you must commit to however, you can choose an amount that suits you and your budget.

Top tip: the higher amount you commit to, the quicker you’ll repay your borrowing!

As you borrow funds and repay, the amount available for you to withdraw will fluctuate and will not exceed the agreed limit. When you dip into your Revolving Credit, we encourage you to make over-payments whenever you can, to help you reduce your outstanding balance and reduce the amount of interest you pay too.

You can withdraw funds from your Revolving Credit through your Members Area, by emailing us or over the phone – whatever suits you. Your funds will be transferred to your designated bank account via Faster Payment.

Making repayments

As soon as your Revolving Credit is approved you will be set up to start making the agreed repayments. During the months when you have no outstanding balance, your payments will be put into your Member Account as savings, as opposed to making a repayment. This means that if you don’t dip into your Revolving Credit, your savings will build up nicely!

If you ever want to make over-payments to reduce your debt, you can give us a call with your debit card handy and pay extra with no absolutely no penalties for doing so.

Limit Minimum monthly payment
£500 £16
£1,000 £32
£1,500 £48
£2,000 £64
£2,500 £80
£3,000 £96
£4,000 £132
£5,000 £166

You’re covered with Life Protection

Life Protection is included with all our loans and covers you up to the age of 70. This does not cost you anything, it is simply another benefit of borrowing from the Credit Union and has been created purely to help our members.

Loans are protected up to a maximum of £40,000 per member. This means your loan would be cleared, ensuring your debt does not remain outstanding, subject to our terms and conditions.

All benefits are paid at the discretion of our Board of Directors. Life Protection is not an insurance policy and is not guaranteed. For more information please click here.

Additional Borrowing

If you have an existing loan with us and want to borrow extra, there are two options available. Click here to see more information.

Need help?

If you are experiencing financial difficulty, or are struggling to repay your loan with us, please contact us as soon as possible and a member of our team will be able to assist you.