Starter Loan

Whether you’re a brand-new member or you’ve been a member with us for a while, you are eligible to apply for our Starter Loan. If you’re looking for a bit of extra cash for that new washing machine or some extra credit to cover the cost of some home renovations, this option could be for you! 

Have a look at our sliders below to see how much you could borrow and how much it is likely to cost you. 

£100 £1,000
4 months10 months
Your repayments are every month at APR
Total interest is
Total you will Pay:


  • Starter Loans are for new and existing members who don’t qualify for one of the other loans we offer 
  • For your first Starter Loan, you can borrow between £100 and £500, for the second, £100 to £750 and for the third and any subsequent loans, £100 to £1,000. 
  • The period you can borrow over is between 4 and 10 months. 
  • We will normally process loan applications within 5 working days (allow 10 working days in run-up to Christmas), however larger loans may take longer 
  • You can top up to a maximum of your initial loan amount ONCE provided you have repaid at least half of it and you’ve been making your payments on time with no arrears. 
  • We will carry out an affordability check based on the information you provide us to help prevent you getting into financial difficulties. 
  • We will carry out a Credit Check – but a poor credit score may not stop you getting a loan
  • We will take into account your previous payment history as part of our decision 
  • It’s important you’re truthful when filling in the form. Any discrepancies we find will affect our decision to grant you a loan. 


  • Available to all new and existing members 
  • We charge a flat interest rate of 3% per month (42.58% APR) 
  • Borrow up to £1000 for between 4 and 10 months
  • We charge no arrangement or early repayment fees 
  • Repay your loan weekly, fortnightly, 4-weekly or monthly 
  • Covered by Life Insurance (subject to Terms and Conditions) 


If you’re not a member yet you will have to sign up and join the Credit Union by clicking here. Then apply by clicking the button below, printing the form and sending it to us – don’t forget that we don’t accept email applications for security reasons.

Had a loan application refused? Click here for further information.

Repayment Options

You can make loan repayments in several different ways.

  • You can pay by Standing Order
  • Get your Benefits paid directly into your credit union account
  • Ask your employer to set up a Payroll Partners Scheme and get part of your salary paid into your account

Loan Advance Payment

We can pay your loan advance by Faster Payments Transfer to your Bank Account or by transfer to your City of Plymouth Credit Union Savings Account. You can then use your Savings Account to top up your prepaid Visa Debit Card if you have one.

Starter Loan Terms and Conditions