Wise Finance Loan

Do you need a loan, but have no savings or you're not a member of the credit union? Then a Wise Finance Loan may be what you're looking for. As you might expect with this type of loan, the amounts available are lower than our other loan products and the interest rates are higher to reflect the increased administration costs and risks. Take a look at our loan calculator for an illustration of what you could borrow and how much your repayments would be.

£50 £500
1 months12 months
Your repayments are every month at APR
Total interest is
Total you will Pay:

Loan Details

A Wise Finance Loan is often referred to as "capacity-based" in that the amount we lend is based on a person's capacity to make the necessary repayments. So we will look carefully at your loan application to ensure you have sufficient income, after paying your expenses, to make the repayments and may ask you for proof of income. This is in the best interests of both you and us in that we don't want you to fall into debt, and we don't want to lose the savings deposited by our members. We reserve the right to apply to a Credit Checking agency for a credit reference, but please don't assume that you will be refused just because you have a poor credit history, that is not necessarily the case. We also encourage people taking out this type of loan to top up their loan repayments by a minimum of 10% in order to build up their savings with the credit union. This will provide them with a pot of money they can fall back on in the future, perhaps to finance a bigger loan, as time goes on.

Offering up to £500 at an interest rate of 3%/month (42.58% APR), a Wise Finance Loan is highly competitive - a similar loan with the Provident, for example, has an APR interest rate of over 1,500% while the Sunny rate is over 1,200%.

Non-members will also be required to join the credit union and become members and we'll use the information you supply in your Loan Application to carry out an on-line identity check. Known as "Know Your Customer" or KYC checks, this is a requirement placed on all financial institutions, including banks, building societies and, of course, credit unions. For full details, please see the Adult Membership page.

We can pay your loan advance by cheque into your personal bank account, by cheque for cashing at a branch of the Co-operative Bank, by cheque for cashing at a Post Office with which we have an arrangement (a charge will apply), by Faster Payment directly into your bank account or by loading the value onto a Prepaid Debit Card.

To apply for a WISE Finance Loan, 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.


  • Open to non-members - you will need to join the credit union
  • Also open to members with insufficient savings
  • Must be over 18 years old
  • Loan amount dependent on ability to make repayments
  • No arrangement fee
  • No penalty for early settlement
  • Overpayments welcome
  • Weekly, fortnightly or monthly repayments
  • Covered by Life Insurance
Terms and Conditions