Join and/or borrow from us today.



Borrow with us

Borrowing £
months will cost £4.44 per month. Your total to repay will be £53.28. Illustration APR is %.

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 credit union policy to meet the borrowing requirements of as many members as possible.

Loan Applications

Loans can be applied for by visiting the office, telephone or via the members section of the website or app. Our staff will give you any assistance required. Loans will then be considered by a Loan Officer, or will go to the weekly Credit Committee meeting - this is held every Wednesday morning. All applications must be made before close of business on Tuesday at the latest. Applications can be made any day.  Proof of income and expenditure (minimum 2 months bank statements) and 2 months payslips may be requested or members may be sent a link to Open Banking to be completed before close of business on Tuesday. If required loan agreements can be sent to your email address and signed electronically.


What you need when applying for a loan

In deciding whether or not to grant the loan the loan officer or credit committee will take into account the members record of savings and loan repayments, as well as ability to repay. You may be asked to provide proof of income and expenditure i.e. recent bank statements or completion of an open banking link. This information must be provided before the Credit Committee meet to enable them to consider your loan application.

Members who apply via our website are reminded that they must answer all the questions on the loan application form.

Remember - only members are eligible to receive loans from your credit union. If you are a new joiner and apply for a loan please look out for the email sent with instructions on how to proceed.

Applying for a loan online

If you apply for a loan via the website your application will go to the first Credit Committee Meeting held after receipt of application. The committee meets every Wednesday morning to consider all loans received. Bank statements and wage slips - when required - must be supplied before the meeting. These can be emailed to or handed into our office. You will receive an email or a message via the app on the Wednesday before close of business informing you of the committees decision. You do not need to to phone the office.

When applying by phone please phone 01505 327148 after 1.30pm on Wednesday or any day after to find out the result of your application.


When applying for a loan, add the amount you wish to apply for onto any outstanding loan balance - then using the calculator work out the term and payment that you are comfortable with. After this make your loan application putting the amount you want to borrow in the "loan value" box.

First time loans

First loans can be applied for in the office, via our website or by telephone. Members will be asked to supply proof of income and expenditure. (A minimum of two months bank statements or completion of an open banking link)

A first loan on joining will be limited to a maximum of £500.


Standard Loan

This loan is available for many purposes i.e. Household, Holidays, Car Repairs, New Baby, Wedding etc.

Terms and Conditions

  • Maximum £15000 plus Shares
  • Maximum Repayment term 5 years
  • Multiple of Shares
  • APR 12.68%

Smart Loan

Our ethical alternative to a payday loan

Terms and Conditions

  • Maximum £500
  • Repayable with 6 months (Maximum 4 a year)
  • No Top Ups
  • Bank Statement Required
  • Must be paid by Standing Order
  • Must be a member for a minimum of 6 months
  • Minimum share balance £200
  • Must be arrears free for 6 months
  • Transferred to you nominated bank account
  • APR 12.68% (£17.63 MAXIMUM COST)

Special Car Loans

Special car loans available APR 9.3%

Terms and Conditions

  • Loans up to a maximum of £15000 plus Shares 1
  • Payment must be made direct to Garage (VAT Registered) via BACS
  • Loans must be repaid in full
  • Must be a member for 2 years
  • Must be arrears free for 2 years
  • Must save £2 per week or £10 per month with every loan repayment(minimum share balance required)
  • Link to Open Banking to be completed
  • Payment must be made by standing order
  • Note - there are no hidden costs for paying the loan off early, no set up costs, repayments are available up to 5 years

Christmas Loan

Why not spread the cost with a Christmas Loan (Available October to December)

Terms and Conditions

  • Maximum £1000
  • Minimum Share balance of £200 required
  • Must be a member for 6 months
  • Must be arrears free for 6 months
  • Repayment of £21 per week or £89 per month
  • Cannot be added to an existing loan


Planning and managing repayments

Credit Unions are flexible with regard to repayment plans, though there are some legal limitations to length and amount of loans. The member will be advised on the best repayment plan to meet their own circumstances.  Members are generally advised to repay a loan in as short a time as possible.  The maximum loan term for an unsecured loan is 5 years.

Interest on credit union loans

Johnstone Credit Union charges a maximum of 1% per month on all loans.   This represents an interest rate of 12.68% APR (Annual Percentage Rate).  Credit Unions do not charge fees or transaction charges.  Since the interest is charged only on the outstanding balance of the loan you will pay even less if you repay in a shorter time than planned.  





Johnstone Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 213802

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