Islington & City Credit Union offers highly flexible loans to its members. You can apply to borrow from day one of membership - but preference is given to members who have started saving. Loan application limits vary depending upon your length of membership, payment methods and affordability.

Unlike many other loans companies, the credit union charges interest on a daily basis so there are no penalties for repaying a loan early - in fact the sooner it is repaid, the less interest you will pay us! Our loans are also extremely flexible with repayments to suit your needs.

And with our Saver Loan a proportion of your repayment is allocated to your savings account, so when the loan is repaid you have some savings to fall back on, reducing your need to borrow in the future.

If you borrowed £1,000 from the credit union and repaid the loan at £89  per month we would charge you only £66 interest to borrow the money - that's 12.7% apr. At the end of the two year loan you would have £276 in your savings account by using our unique Saver Loan.

A smaller loan of £500 payable at £15 per week over one year would cost you just £31 in interest. At the end of the loan you would have over £250 in your savings account. 12.7% apr.

In 2009 we have paid a 2% rebate of loan interest to all of our borrowers as part of our commitment to pay a ‘co-operative dividend’.

If you would like to apply to borrow money from the credit union you will need to become a member  You can then download and fill out our loan application form in .pdf format  This form should be returned with a copy of the budget sheet which is available in .pdf format

First Loan Application Guidance Notes 

IMPORTANT - before submitting your first loan application you should read these guidance notes

Previous Borrowers Loan Application Guidance Notes 

IMPORTANT – if you have borrowed from us before you should read these guidance notes before submitting your application