A fair alternative to payday or doorstep lenders if you’re unemployed, retired, or if benefits like Universal Credit are your main income. With a clear interest rate and repayments deducted directly from your benefits , you can borrow what you need with peace of mind. No need to be an existing member — applying and joining is handled in one straightforward step.
Booster Loans are available to members whose main source of income is benefits or a pension. They’re designed for people who may not qualify for other types of credit.
First-time borrowers can apply for up to £600. If you successfully repay your first loan, you may be able to borrow up to £1,200 on subsequent applications.
Your benefits or pension are paid directly into your credit union account. From there, your agreed loan repayment is taken automatically before the balance is made available to you.
The interest rate is higher than on our other loan products, which reflects additional levels of risk. However, Booster Loans are still far more affordable than payday lenders or high-cost online credit.
Yes. You have the option to put aside a small amount into savings each time you make a repayment. This means you can finish your loan with money saved as well.
Unlike payday loans, Booster Loans offer more manageable repayments, fair interest rates, and the option to build savings. They’re designed to help members improve their financial wellbeing, not trap them in debt.
