Apply for a Loan
Take out a Loan in East Central Scotland and the Borders
Whether you're looking to borrow to help with your household expenses or for a larger purchase, we have the right personal loan to suit you. We've made it easy to borrow at a fair, affordable rate with no application fees and no early repayment charges.
The Credit Union will consider loan applications from members for any worthwhile purpose. Each application is treated in the utmost confidence and will be considered on its own merits. It is the credit union's policy to meet the borrowing requirements of as many members in West Lothian and across Scotland as possible, subject to credit criteria.
Benefits of a Caledonian CU Loan
No minimum repayment period
Free Loan Bereavement benefit on all loans
No setup costs or admin charges
We do not charge any early repayment fee
Loan Calculator
Maximum Loan Term :
42.6%
42.6%
42.6%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
Our Loans at a glance
Standard Loan
Variable Rate: from 12% to 36% (12.68% to 42.6% APR)
- After you have deposited your 1st savings instalment by payroll deduction or standing order, you can apply for your 1st loan.
- All loans are based on your ability to repay. Extensive checks are carried out on every loan application received.
- Our Interest rates compare favourably with high street banks and other lenders
| Lender | Loan Amount | Representative APR | Cost of Borrowing over 36 months | Monthly Repayment |
| Caledonian Credit Union | £4,000 | 19.6% | £1,200.28 | £144.61 |
| Royal Bank of Scotland | £4,000 | 21.9% | £1,349.24 | £148.59 |
| Bank of Scotland | £4,000 | 26.7% | £1,641.92 | £156.72 |
All Member Loan
Variable Rate: from 12% to 36% (12.68% to 42.6% APR)
- You can apply for a loan right away after becoming a member. All we ask is that if you are successful in your application that you deposit your 1st savings instalment by payroll saving or standing order.
- All loans are based on your ability to repay. Extensive checks are carried out on every loan application received.
- Our Interest rates compare favourably with high street banks and other lenders.
| Lender | Loan Amount | Representative APR | Cost of Borrowing over 36 months | Monthly Repayment |
| Caledonian Credit Union | £4,000 | 19.6% | £1,200.28 | £144.61 |
| Bank of Scotland | £4,000 | 21.9% | £1,349.24 | £148.59 |
| Amigo Loans | £4,000 | 26.7% | £1,641.92 | £156.72 |
Secured Loan
Variable Rate: from 2.96% to 6% (3% to 6.2% APR)
- Borrow against your savings (i.e. Savings of £500 Borrow up to £500)
- Savings held as security against loan
| Borrow | Interest Rate (flat) | Interest rate (APR) |
| Up to £9,999 | 6% | 6.2% |
| Above £10,000 | 2.96% | 3% |
Payroll Saving Loan
Variable Rate: from 12% to 36% (12.68% to 42.6% APR)
If you save with the Credit Union through your salary or wages:
- You are eligible for a loan after your 1st savings payment is made
- Loans are based on your ability to repay. Extensive checks are carried out on each loan application
- You can apply for up to £15,000 above your savings.
- Pay loans directly from your salary or wages
- Continue to save to see your savings grow
- Our Interest rates compare favourably with high street banks and other lenders
What you need when applying for a loan in East Central Scotland and the Borders
In deciding whether or not to grant the loan the credit union will take into account the members record of savings and loan repayments, as well as ability to repay. Once the loan is granted the member will be asked to complete a Credit Agreement, which is a legally binding document being an undertaking to repay the loan, and to commit to regular repayments.
We generally require some or of the following information to accompany Loan Applications i.e.
- You must be a member and over 18 years of age
- You must save regularly with the Credit Union
- You can borrow up to £15,000 depending on your ability to repay
- Interest on all loans is charged daily so you only pay on the reducing balance
- Extra payments can be made at any time
The more complete the application is, the quicker the decision is made.
Remember - only members are eligible to receive loans from your credit union - so join up now!
How do I become a member?
If you live or work in West Lothian, to become a member of Caledonian Credit Union could not be easier. Simply click here and just follow the instructions. (please have your national insurance number and debit card to hand).
Alternatively, please call us on 01506 436666, or download the membership application below and post to our office at Unit 6 Almondbank Centre, Craigshill, Livingston EH54 5EH with 2 forms of identification (these can be copies and further verification will be made later).
