The credit union difference
H&F Credit Union is a not-for-profit organisation. Our members are our shareholders so aim is to make sure our services are as accessible, fair and affordable as possible for our members.
One of the features of our loans is that our members only pay interest on the reducing balance. What this means is that we only charge you interest on how much you have left to pay, not on how much you borrowed in the first place. This means that even when our APR is higher than other lenders, in most cases it works out far cheaper to borrow from us. And we won't charge you a penny for paying back early!
To see for youself how affordable a loan from H&F Credit Union can be, visit the Loan Calculator section of our website.
Below is information on our two main types of loans; Saver Loans and Instant Loans
Saver Loans (Share based lending)
One of the primary aims of the credit union is to encourage our members to develop the habit of saving. You will be amazed how quickly your savings grow when you save even a few pounds a week and those savings can bring the peace of mind you need when unexpected financial costs arrive.
The most affordable way to borrow from the credit union is through what we call our Saver Loan (share based loan). This where a member saves with the credit union, then uses their savings (shares) as collateral against the money they wish to borrow.
For example, a member might save £300 so that they can borrow £900. Whilst the member is repaying the £900 loan, their £300 savings cannot be accessed. For interest rates, see the table below or check out the Loan Calculator section of our website.
Instant Loans
Sometimes life can through some unexpected suprises at you...and often they cost money! Like a washing machine breaking down or a family member passing away, such events can cause financial strain on already stretched budgets.
Because of this, H&F Credit Union offers an Instant Loan facility for members who do not have sufficient savings to access a Saver Loan.
To check out how much an instant cost loan will cost check out the Loan Calculator section of our website.
Interest Rates
Below is a table of the current interest rates charged by H&F Credit Union on its loans to members. Credit union loans only charge interest on the reducing balance.
To check out how much a loan with H&F Credit Union will cost check out the Loan Calculator section of our website.
Loan Type |
Loan Amount |
APR(%) |
| Saver Loan |
£50 - £1,000 |
18.9% |
| Saver Loan |
£1,001 - £3,000 |
16.9% |
| Saver Loan |
£3,001 - £5,000 |
14.9% |
| Instant Loan |
£50 - £1,000 |
26.8% |
| Instant Loan |
£1,001 - £1,500 |
24% |
Download the Loan Application and bring it to 274 North End Road, Fulham SW6 1NJ
 Download Loan Application Form (154kb)
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