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Loans Member Reward Loan

Member Reward Loan

To be entitled to apply for a Member Reward Loan you must have been a member for 12 months and have saved regularly with BERKSHIRE CREDIT UNION.

How much can you borrow?

  • Up to 3 times your current savings balance (5 times for a Joint applications)
  • Between £300 and £1500

What are the terms available?

  • Interest charged between 1% and 1.5% per month depending upon credit status.
  • Minimum APR of 12.7%.
  • Repayment between 6 months and 24 months depending upon size of the loan.
  • Use the Loan Calculator to find out what we would charge for a loan.

What additional benefits are included?

  • No set up or administration charges.
  • No penalties for early repayment.
  • Free life assurance on the loan up to the age of 70

What are the requirements? You must have;

  • Been an Adult member of BERKSHIRE CREDIT UNION for at least 12 months.
  • At least £100 of savings when you submit your application.
  • Saved at least £10 per month for 9 of the last 12 months.
  • No outstanding BERKSHIRE CREDIT UNION standard loan.
  • No active IVAs, CCJ, or other negative credit impairments.
  • Sufficient regular income to afford the repayments as evidenced by one months recent payslip(s) or equivalent.
  • UK/EU citizenship or right of UK residency.

Do any special conditions apply?

  • You will have to continue to save while the loan is outstanding (10% of repayments) which can only be withdrawn at the end of the loan.
  • You cannot withdraw the initial savings balance used to support the loan until the loan is paid off.

How do you apply?

  • Complete a simple application form.
  • Supply the most recent payslip, pension, or benefits payments record for each of the applicants.

Apply now

Click to DownloadDownload Member Reward Loan Application Form (editable) (68kb)

Once you have completed the application form you should return it to us:

  • In person, at one of our contact points.
  • By post, to the address listed here
  • Or by email, to:

How long will it take?

• BERKSHIRE CREDIT UNION does not provide internet type instant loans, each loan is individually considered by a specialist volunteer member of the Credit Committee and will take on average 3 days from receipt of a fully completed loan application.
  • They will inform you of their decision by email.

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Opening Hours:

Mon - Fri10:00am - 14:00pm

Visit Us:


62 Portman Road, Reading, RG30 1EA


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Berkshire Credit Union is the trading name of Community Savings & Loans (Berkshire Credit Union) Ltd Authorised and Regulated by the Financial Conduct Authority and the Prudential Regulation Autority - Firm no 457045