You can apply for a loan by calling in at one of our branches/collection points (see Contact page for locations). There you can pick up a loan application form and fill it in. You can ring for information or to make an appointment on 01453 298785. Or you can download an application form (see below).
When submitting your application, please supply the relevant documents as proof of income etc. There is a checklist on page 5 of the form. Also, if you are not already a member of Stroud Valleys Credit Union you need to fill in a membership application form and supply proof of identity and address. (See the Join page for further details and the relevant joining form.)
You may be required to attend an interview for your first loan. We will deliver the loan within 7 days of a successful application.
All applicants are credit checked, but if you have got into difficulties in the past it won’t necessarily stop you having a loan – just give us full details on the application form.
Once a loan is granted you will be required to sign a loan agreement form. This is a legally binding document in which you promise to repay the loan on time in full.
Repaying the loan
The normal period of repayment is one year but our repayment plans are very flexible. There is no penalty for repaying the loan early.
The usual method of repayment is by standing order. In some cases we will allow cash payments at our branches/collection points.
We recommend that as well as the loan repayment you also put a small amount of money into savings each week or month.
You should always be aware that you are borrowing your fellow members’ money, so don’t apply to borrow if you are not completely committed to repaying their trust in you.
Loan application forms
Download: Loan application form