Falkirk District Credit Union Reviews, Loan Calculator and Complaints

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Acceptance Criteria

You need: one form of identity and proof of income
You don't need to have a good credit history
You need to be 18 years of age

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 need to be living in Falkirk or surrounding areas to become a member

Loan Details

APR

7.9% - 20%

Representative APR

12.68%

Loan Amount

£1 - £10,000

Repayment Period

Minimum Term 1 month

First loan up to £300 - 1 year

Second loan up to £600 - 2 years

Subsequent loans up to £10,000 - 5 years

Arrangement Fee

No Fee

Payment Holidays

None Available

Payout Method

Cheque

Income Protection Available

No

Areas Covered

Falkirk

Average Customer Review

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Loanfinder Ranking

160th for APR of 423 loans in the UK (See Lender League Table By APR)

About Falkirk District Credit Union

You need to be living in Falkirk or surrounding areas 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 and you can apply for a loan after saving regularly with them for 13 weeks or 3 months.

First you will need to become a member of the union. To apply for a loan, you need to complete an application, which you can collect from their office or one of their collection points. Loan officers will review your application and if granted, you may need to attend an interview.

For your first loan if you have saved under £150 you can borrow twice the value of your savings. If you have saved over £150 you can borrow the value of your savings plus £150.

For your second loan if you have saved under £500 you can borrow twice the value of your savings. If you have saved over £500 you can borrow the value of your savings plus £500.

For your third and subsequent loan you can borrow twice the value of your savings.

The process may in some cases take up to two weeks so this is not a good option for you if you need your money quickly. You cannot manage your loan online so if you need to make changes, you will need to contact them in writing or pop into a branch. 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.

Grangemouth Head Office Monday-Friday: 10:00am-2:00pm

Bonnybridge Branch Monday: 10:00am-12:00pm

Denny Branch Tuesday: 10:00am-12:00pm
Thursday: 6:00pm-7:00pm

Dawson Branch Wednesday: 10:00am-12:30pm

Westquarter Branch Thursday: 10:00am-12:00pm

Bo'ness One Stop Shop Tuesday: 10:00am-12:00pm