Penny Post 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, depending on the available funds.*
Applications for loans are made on a standard loan application form (link below). Our staff will give you any assistance required. Loans will then be considered by a Loan Officer or Team.


Penny Post Credit Union loans are repaid on a weekly or monthly (salaries) basis; there are some legal limitations to length and amount of loans. Members are generally advised to repay a loan in as short a time as possible. Five years is currently our maximum loan term. Should a member experience difficulties in meeting repayment commitments, they should immediately explain the situation to the credit union, which will treat the matter sympathetically and in total confidence. Depending on circumstances, the loan will be renegotiated if possible.


Penny Post Credit Union offers members a choice of five types of loans, each has its own terms and conditions. Members can apply for the Intro Loan after the first payroll deduction. All our other loans are available to apply for after 6 weeks savings. Only one loan at a time in permitted.

Intro Loan:

Members can apply for an Intro Loan of up to £2,000 after their first payroll deduction. Interest on the loan is charged daily on the loan balance, based on 2% a month (26.8% apr). No savings withdraws until the savings reach a quarter of outstanding loan amount.

Personal Loan:

With no minimum amount and a maximum of £6,000 applications are available after six weeks saving. Interest on the loan is charged daily on the loan balance, based on 2% a month (26.8% apr) for loans up to £3,999 and 1.5% (19.6%apr) for loans between £4,000 and £6,000.