Glasgow West Credit Union

Good:
They offer very low interest rates with no extra charges or fees

Bad:
No online service so every time you need to make a transaction, you have to visit their office

Verdict:
No credit checks so good option if you need to rebuild your credit - must live or work within the boundary running from Kelso St. in Yoker to the West edge of the M8 and North from the River Clyde to the Southern edge of Great Western Rd.

You must live or work in their specified geographical area - see map below - 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 at any point after becoming a member.

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 will 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 cannot manage your loan online so if you need to make changes, you will 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.

Monday, Wednesday, Friday: 10:00am – 4:00pm
Saturday: 10:00am -11:45am