Yoker Credit Union

Good:
Low interest rates, low monthly repayments, no extra fees or hidden charges, no credit check

Bad:
Can only apply for a loan after saving regularly with them so they know that you can afford the loan and the repayments

Verdict:
If you have had financial problems in the past, they can help you rebuild your credit - must be living or working in the West of Glasgow

You must be living or working in the West of Glasgow 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 have started saving regularly.

You need to become a member of the union first. To apply for a loan, you can call into their office, pick up an application form from a collection point or download the application form from their website. Complete the application form and return it to them. All loans are initially assessed by a Loan Officer and the Credit Committee 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 can manage your loan online so if you need to make changes, you don't 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.

Main Office
Monday-Wednesday: 10:00am - 3:00pm
Thursday: 2:00pm - 9:00pm (late night opening)
Friday: 10:00am - 3:00pm