Blantyre & South Lanarkshire Credit Union Reviews, Loan Calculator and Complaints

(1 customer review)

Average Customer Rating

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Acceptance Criteria

You need: proof of income (wage slips, bank statements), proof of identity and current address
You do not need to have good credit
You need to be 18 years of age or older

It doesn't matter if you are employed, unemployed, on benefits, a carer, a homemaker or on Job Seeker's Allowance, anyone can apply
You don't need to have been a UK resident for any specified length of time
You don't need to have a bank account

You must live or work in South Lanarkshire or Blantyre to become a member

Loan Details

APR

6.2% - 26.8%

Representative APR

12.68%

Loan Amount

£50 - £5,000

Repayment Period

Minimum Term 6 weeks

Loans up to £5,000 - 10 years

Repayment Method

Standing Order

Direct Debit

Cheque

Postal Order

BSLCU PayPoint Card

Speed To Payout

5-7 working days

Arrangement Fee

No Fee

Payment Holidays

None Available

Payout Method

Cheque

BACS

Income Protection Available

No

Areas Covered

Motherwell
Glasgow

Average Customer Review

(1 customer review)

Loanfinder Ranking

77th for APR of 423 loans in the UK (See Lender League Table By APR)
1st for Customer Satisfaction (See Customer Reviews)

About Blantyre & South Lanarkshire Credit Union

You must live or work in South Lanarkshire or Blantyre to become a member.

Credit Unions offer a few different unsecured loans for any purpose. Their loans are fairly cheap and are based on your proven ability to repay, this is why they do a thorough check of your income and expenditures. You need to be a member to apply and you can only apply for a loan after you have been saving for 8 weeks. You can borrow anything up to twice your savings for your first loan and subsequent loans up to £5,000.

First you will need to become a member of the union. You can apply by visiting their office (see location below) or via the members section of their website. Your application will be reviewed by a Loan Officer or the weekly Credit Committee meeting. They will then let you know their decision and you will be asked to complete a loan agreement committing you to regular repayments.

The process may in some cases take up to 2 weeks so this is not a good option for you if you need your money quickly. They do offer a members section so you can view the status of your loan once it is granted. With credit unions, the money you are borrowing is the money of other members, so if you fail to make payments, they take this very seriously. Their opening hours are very limited, which makes it difficult for you to go in to organise all your documents and sign your agreement. On the other hand, they want to help you rebuild your finances if you haven't got a good history. Their rates are extremely low and their repayments are really small each month.

Monday-Wednesday: 9:15am - 4:00pm
Thursday: 9:15am - 6:00pm
Friday: 9:15am - 4:00pm

Tact Hall Wednesday: 11:30am - 12:30pm

Priestfield Hall Tuesday: 12:30pm - 1:30pm

Larkhall Office
Monday to Wednesday: 11:00am - 3:00pm
Friday: 12:00pm - 4:00pm

Current Offers:

This Credit Union is currently offering a reduced rate if you only borrow an amount up to or less than you have in your Credit Union savings account. The rate is only 6.2%APR. Remember this could be even lower if you pay off your loan earlier. Check out the payment calculator to see how little interest you have to pay on a secured loan.