Latest News

04 Aug 2022

General Manager Vacancy

We are seeking to appoint an enthusiastic and energetic individual to shape our future strategic direction...

08 Apr 2022

Our new website is Live!

We are delighted to announce the launch of our website. We hope you like the new look...

01 Mar 2022

We're Celebrating!

This year we're marking 25 years of serving our members. You can hear all about our...

22 Dec 2021

Wishing all our members a very Merry Christmas

The kids may think that Christmas comes ready-wrapped from Santa, but we know...

Regular Loan

This is our standard loan product available in amounts from £150 to £10,000, subject to status and approval. The interest rates vary between 9.4% and 42.6% (representative APR) depending on the size of the loan and, for some larger loans, the history of the borrower. Please note, from May 2020 we are currently not accepting applications for loans over £5000, unless the member is a homeowner or works for one of our payroll partner employers, and the maximum loan term we are considering is 4 years.

We lend for any reasonable purpose, for instance Christmas, repairs, holidays, vets' bills, a new car, moving home, furniture, kitchen appliances, or for home improvements. If you are looking to make a new start and take control of your finances, we may be able to offer you a loan to pay outstanding bills, credit cards and other lenders.

We also offer lower rates to members who work for certain employers and repay directly from pay. This is our Payroll Partner loan.

 

Try out our quick and easy loan calculator below

Maximum Loan Amount :
Maximum Loan Term :

£

Term

Repayment Frequency
£
APR
42.6%
# Repayments
Total
£
APR
42.6%
# Repayments
Total
£
APR
42.6%
# Repayments
Total
£
APR
42.6%
# Repayments
Total

This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.

Our loan decisions are made by local people, not a computer. We take your individual circumstances into account and often lend to people who would have difficulty borrowing elsewhere, including tenants and people on benefits. We don't charge settlement or early repayment charges and interest is calculated daily on the reducing balance, so if you repay early, you save money.

We also offer Free life insurance on all loans taken out before your 70th birthday.

But you don't just take out a loan, you become a member of a growing financial co-operative, and have access to all our services. By choosing Gateway Credit Union you help us to grow and offer fair financial services to all in your local community.

We expect you to save as well as borrow

We require all borrowers to save a small amount, £2 or £3 per week (or monthly equivalent), into your Attached Savings account, which is locked until the balance is greater than the loan balance. However, we do not restrict you from withdrawing your other savings while you have a loan with us.

We're better than your bank!

If you can get a cheaper loan from a high street bank (between £2,000 and £7,000 over 1 to 5 years) we will match the rate offered, and add our usual free life insurance.