Super Savers Loan

Super Savers Loans are for existing members who have made regular payments into their accounts over a period of 3 months or more and have a good loan history. Suitably qualified members can borrow up to £10,000 for up to 3 years with a minimum loan period of 4 months. Interest rates are 1% per month flat (12.68% APR) for loans over £2,000 and 2% per month flat (26.82% APR) for loans under £2,000.

Just so you can get some idea of the amount you can borrow and how much it will cost in terms of monthly repayments and interest costs, we have included a calculator below. Pull the sliders around to see an illustration of what the loan could cost you, but bear in mind that there are minimum payment constraints which may apply.

£100 £10,000
4 month36 months
Your repayments are every month at APR
Total interest is
Total you will Pay:

Loan Details

Let’s take a look at the Super Savers Loan in more detail to see whether you’re eligible and whether it meets your needs. The full Terms and Conditions are shown below, but here’s a brief run-down.

  • Super Savers Loans are for members who have been making payments into their credit union accounts of at least £62 per month (equivalent to £57 every 4 weeks, £42 every fortnight or £15 every week) for a minimum of 3 months. Lump sum payments (also know as “share loading”) will be disregarded in making the assessment.
  • A lump-sum amount of shares used to partially secure a loan will be be set aside in a Pledged Savings account and cannot be withdrawn until the loan is repaid in full.
  • Members must have a good history of making regular loan repayments with minimal arrears.
  • For the first Super Savers Loan, you can borrow up to twice your savings to a maximum of £3,000 for between 4 and 12 months.
  • For the second Super Savers Loan, you can borrow up to 3 times your savings to a maximum of £5,000 for between 4 months and 2 years.
  • For the third and subsequent Super Savers Loan, you can borrow up to 4 times your savings to a maximum of £10,000 for between 4 months and 3 years.
  • You are required to make savings payments equivalent to 10% of the loan repayment, to be added to your regular loan repayment.
  • 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.
  • You can fully repay the loan from shares ONCE. This will require authorisation by the person nominated to supervise the loan.
  • 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, although a poor credit score will not necessarily mean you won’t be granted a loan.
  • We will take into account your previous payment history if you have had loans with us in the past.
  • When filling in the form, it’s important you are truthful. Any discrepancies found will necessarily affect whether you will be granted a loan.

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 Debit Card if you have one.

Apply for Loan

nivo logoTo apply for or top up a Super Savers Loan, we recommend using our Nivo smartphone app for Android and iPhone devices. You can find out more about it by clicking here. It’s much quicker and more convenient than paper and helps considerably if you cannot get to a Service Point. If you haven’t already installed it, click on the button below and follow the instructions. It’s very easy to use.

When uploading bank statements, can you ensure that you upload a pdf file from your bank rather than using your camera to photograph bank statement pages. This will prevent problems with readability and processing your application.

If you prefer to apply using paper forms, click the button below, print the form and fill it in as fully as possible. Alternatively, forms are available at any of our Service Points where you can also ask for help in filling in the forms.

If using paper forms, please don’t send them as an email attachment as we need original signatures on the form and, as email is an insecure communication medium and many of the forms contain sensitive information, could lead to data protection issues.


  • Open to existing members with good loan history
  • Highly competitive interest rates
  • Must be over 18 years old
  • No arrangement fee
  • No penalty for early settlement
  • Overpayments welcome
  • Weekly, fortnightly, 4-weekly or monthly repayments
  • Covered by Life Insurance, subject to Terms and Conditions
  • 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.

Terms and Conditions