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Our loan rates

More and more people are finding it increasingly difficult to borrow small amounts of money from high street financial institutions and that’s where First Choice Credit Union can help. 

Comparison of rates

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Data from website 04/03/2024

Advantages of taking a loan with Credit Union

  • We are a responsible lender and we offer a favourable low fixed rate interest rate compared to payday loans or doorstep lenders. 

  • Our maximum rate is 3% (42.58% APR) many rates are lower than this depending on the amount of loan

  • You can opt to repay your loan weekly, fortnightly, 4-weekly or monthly.

  • Interest rate is fixed and your repayments won’t vary.

  • Arrangements can be made for loan repayments to be made through payroll deductions.

  • If you have been turned down for a loan in the past, we may be able to help you secure a loan.

  • Your loan may be protected in the event of your death, helping protect your family from the financial burden of bereavement.


Interest on a credit union loan is calculated every day on the balance of the loan that day. This means that as the loan balance reduces, so does the interest paid so, in the long run, less interest is paid on the loan than most other lenders. It also means that if a member pays the loan in full, interest is charged only until that payment is made.

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