Glasgow Credit Union

Good:
One of the UK's largest credit unions and you can apply for a loan as soon as you become a member

Bad:
Most of their account managing is online so if you are not comfortable using the internet, they only have one office to go to for help

Verdict:
This credit union can lend to people with bad credit, if you have struggled with finance in the past they can help you rebuild your credit - must be living or working within the 'G' postcode area

You must be living or working within the 'G' postcode area to become a member.

Credit Unions offer a few different unsecured loans for any purpose. Their loans are fairly cheap and are based on your proven ability to repay, this is why they do a thorough check of your income and expenditures. You need to be a member and you can apply for a loan after you start saving with them.

First you will need to become a member of the union. To apply for a loan, you need to complete an application, which you can pick up from their office or one of their collection points. Loan officers will review your application and if granted, you may need to attend an interview.

The process may in some cases take up to two weeks so this is not a good option for you if you need your money quickly. You can manage your loan online so if you need to make changes, you won't need to contact them in writing or pop into a branch. With credit unions, the money you are borrowing is the money of other members, so if you fail to make payments, they take this very seriously. Their opening hours are very limited, which makes it difficult for you to go in to organise all your documents and sign your agreement. On the other hand, they want to help you rebuild your finances if you haven't got a good history. Their rates are extremely low and their repayments are really small each month.

Opening Hours
Monday-Wednesday: 8:30am-4:45pm
Thursday: 8:30am-6:00pm
Friday: 8:30am-3:30pm