Join Our Local Revolution for Affordable Loans!
Whatever you have planned for 2022, we will have an affordable and fair loan product that suits you. Whether you are planning a large spend like a new kitchen or car, looking to consolidate existing credit, or just want a small amount to help with the cost of school uniform or Christmas, we will have a loan that meets you needs. If your loan is approved, we will make sure that you get the best rate available to you, depending on your circumstances.
Our online loan application process has been improved, to let new and existing members apply online using the option for approving open banking to save having to supply bank statements. We aim to make a decision on complete loan applications received within 1-2 working days. There has never been a better time to use us for affordable and ethical loans!
Discounted Christmas Loans Offer for Existing Members & Employees of Our Moneyworks Partners
Get Christmas wrapped up early with affordable credit - our discounted Christmas loans are available for loans received by 31st December 2022.
Available to existing members to spread the cost of Christmas. We are also offering the rate to all employees of our Moneyworks Wales partners, so if you are not yet a member, but work for an employer who operates a payroll savings and loans scheme with us, please select the Christmas loan product on our loans calculator to find out how much a loan will cost you.
All Christmas loans are subject to being paid in full within a year. Terms and conditions apply.
Platinum Loans at 4.9% APR (£5,000 to £15,000)
Our best loan rate available for unsecured larger loans, popular with our members for projects such as home improvement, cars and weddings. To be eligible for this ver competitive rate, applicants must:
Please note that this loan rate is not eligible for credit consolidation loans. Eligibility is subject to loan approval and our loans assessment.
Silver Loan Rates at 8.9% APR (£3,000 to £4,999)
Our silver loans are popular with members for projects such as car expenses, DIY and Christmas.
You can apply for this loan online by choosing standard loan and a loan value of £3,000 to £4,999.
This is a great way to affordably spread the cost of expensive family-related costs throughout the year, such as school uniforms, trips, holidays, Christmas and family holidays etc. Our family loans let you repay a loan and save with us directly through Child Benefit payments. Your Child Benefit will be paid directly into a savings account with us. After each payment of Child Benefit is received, a loan repayment will be made and a minimum of £10 into your savings account (or £2 per week if you receive Child Benefit weekly) will remain in your savings account with us until your loan is repaid. Any remaining Child Benefit will be transferred to your bank account on the next working day.
You can apply for this loan online by choosing standard loan and Child Benefit as the method of repayment. The APR (interest rate) charged will depend on the value you borrow. Please note for new members, the value of first family loans is capped at £500 at 41.2% APR.
Saver Reward Loans from 3.9% APR
Rewarding our savers is a priority for us: that's why we reserve our best loan rates for those who save with us, and agree to keep their savings held in their account until their loan is repaid.
If you have savings in your account which match the full loan value you are applying for, and agree to keep you savings locked into your account for the term of your loan, you will be entitled to our discounted loan rates our savers:
Our rate is very competitive, and we believe is one of the best rates currently available on the High Street. if you would like to apply for a saver reward loan, you can apply by logging into the members' area of our website.
Loans to Consolidate Credit at 18.9% APR and 41.2% APR
If you currently have outstanding credit with overdrafts, credit cards, store cards or loans etc, you may be making a number of repayments througout the month at different interest rates. A loan to consolidate your credit would allow you to make one monthly repayment at a fixed rate. Our credit consolidation loan is offered at 41.2% APR for loans up to £1,000, and 18.9% APR for higher value loans.
When considering debt consolidation, it's important to consider what you want to achieve and what is most important to you, for example:
We cannot guarantee that these options will reduce the overall cost of borrowing - this will depend on the on the interest rates you currently pay on your outstanding credit. We strongly recommend that you compare these with the the cost of our credit consolidation loan before deciding if this product is right for you.
Please note that if you have an existing loan with us, and apply for a top-up loan, the loan offered to you will be at the credit consolidation rate if either your existing loan or new loan application is for this purpose. We would therefore recommend repaying any standard existing loans with us first before applying for this product.
Please talk to us about whether consolidating your debt with us could save you money and help you clear your outstanding balances.
Cardiff & Vale Credit Union. Registered office: 4 Working Street, Cardiff, CF10 1GN Telephone 029 2087 2373
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 213467