W.H.E.B. Credit Union

Good:
They assess your loan application, income and expenditure thoroughly to ensure you can actually afford the loan

Bad:
Must save regularly for 10 weeks before you are able to apply for a loan

Verdict:
Small financial business serving the local community for saving and borrowing - must live within Whitehill, Hillhouse, Earnock or Burbank

You must live within Whitehill, Hillhouse, Earnock or Burbank 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 saving regularly for 10 weeks and you can apply for up to a maximum of twice your savings.

You need to become a member of the union first. To apply for a loan, you can call into their office, or pick up an application form from a collection point. Complete the application form and return it to them. All loans are initially assessed by a Loan Officer and they will then contact you to inform you of their decision.

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 need to contact them or go 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.

Burnbank Office
Monday, Tuesday, Thursday & Friday: 10:00am - 4:00pm

Hillhouse Civic Centre
Tuesday: 6:00pm-7:00pm