Bad credit loans with lower cost rates for people with poor credit ratings from credit unions

Bad credit loans designed to help people with poor credit histories are available from credit unions at much lower rates than those offered by many other loan companies who offer such products. Our loans can help those who are excluded from mainstream banking to access affordable credit.

Aside from having loan applications rejected from many high street banks, having a poor credit score can also affect you being able to rent, set up a mobile contract, purchase something on finance, and many other things that make normal life easier.

Sometimes poor credit can be as simple as having missed one payment or a direct debt mix up. It can take time to resolve and in the meantime you end up being unable to access borrowing when you need it more.

Credit unions are a great alternative to high street banks because they base their lending decisions on individual circumstances. So you feel like a person and not just a number! Many people ask, ‘do credit unions check your credit?’ and the answer is, yes, but they also consider each loan application on a person’s situation, not just their credit score.

Often when people have poor credit histories they turn to high cost lenders which can mean getting further into debt and making your credit score much worse! Not all loans for bad credit come with high interest rates and this is what makes credit unions a great alternative. As a financial co-operative they work for their members, and are ethical in all their practices. They ensure responsible borrowing and encourage you to save while you borrow too. Over time this can result in being able to manage your money better.

Having access to affordable credit has a positive affect on your mental health too! Studies show that your financial situation hugely affects your mental health. Credit unions care about your financial situation and also help you manage your money better, whatever your circumstances.

At Clockwise Credit Union our loans are available for people living or working in Leicester, Leicestershire, Rutland, selected areas of Northamptonshire, and employees or tenants of Asra, Raglan or Sanctuary Housing Associations.

All of our loans are available for people with bad credit histories. Visit our Loans page for more information. Alternatively, you can find your local credit union by visiting

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