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Loyalty Saver Loan

Loyalty Saver Loan

If you have savings with us that you don’t want to withdraw, are aged 18 or over, have been a member of the Credit Union for at least six months and have saved on a regular basis, and you would like to borrow an amount up to 90% of your savings with the Credit Union and with a maximum of £20,000 (subject to terms), we offer a Loyalty Saver Loan at the reduced interest rate of 0.5% per month, 6.2% APR.

LOYALTY SAVER LOAN (Representative examples)


Term (months)

Monthly repayment

Total cost of credit

Total repaid

Interest rate (APR)

£2,000 24 £88.64 £128 £2,128 6.2%
£5,000 36 £152.11 £476 £5,476 6.2%

You will not be able to make a withdrawal from your secured savings if your loan is in arrears, or if the withdrawal will result in the outstanding balance of your loan being more than 90% of the remaining balance of your secured savings.

Please bear in mind that the interest rate payable under the loan is likely to be higher than the dividend rate payable on the corresponding amount of savings held in your secured savings account, in which case you will incur net interest costs as a consequence of taking the loan compared to withdrawing your savings instead.

You may only apply in branch for a Loyalty Saver Loan. You can download and complete a Loan Application Form or pick up a loan application form from one of our branches.  When we issue your loan agreement we can provide a paper copy for you to sign physically or we can send it to you by email for you to sign electronically using our e-Sign service. Before your loan is issued we will ask you to provide evidence that you have made arrangements for regular electronic loan repayments.

The form of our Loyalty Saver Loan agreement, including its terms and conditions, can be accessed here.

You can find our branches in Bromley, Sydenham, Lewisham, Catford and New Cross. We're here to help, with Savings, Loans and Current Accounts for you

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Lewisham + Bromley Credit Union


Lewisham + Bromley Credit Union Limited is a member of the Financial Services Compensation Scheme (FSCS), complies with the Data Protection Act 1998 and is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Firm reference number 213588. Credit Union Registration Number 295C (IP00295C at Companies House).

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