Borrow While You Save with the NHS Credit Union

Borrow While You Save with the NHS Credit Union


Take out a loan without limiting your access to a savings account.


Saving regularly is vital to help you put money aside for future expenses, whether it’s a season ticket or a deposit for a new flat.

Loans on the other hand are useful when you want to make a large purchase but can’t pay upfront in full, so need to spread the cost over longer-term repayments.

Individually, loans and savings accounts solve different financial problems. However, they don’t always go hand in hand, and it can be difficult to manage both at the same time, depending on the circumstances of the loan product or the lender.

Thankfully, as a member of the NHS Credit Union you can do both and borrow while you save from our varied selection of loan products and savings accounts.

The Best of Both Worlds


One of the benefits of taking out a loan with the NHS Credit Union is that it doesn’t affect your ability to have a savings account with us.

In fact, when you take out a loan, we will always encourage you to save at the same time to make your money work harder for you.

From as little as £10 per month (£2.50 a week) you can save for your future while also meeting your loan repayments.

As a cooperative, one of the biggest advantages of the NHS Credit Union is that we operate solely to benefit our members.

Our goal is to ensure you are developing good savings habits while your money is working in your best interest.

That’s why our loan products and savings accounts work together to help you better manage your finances.

  • Make your loan payments on fair terms, flexible timescales, and with affordable interest rates.
  • Save money for a special occasion, a rainy day, a home improvement, or a holiday.
  • Borrow against your savings, with our popular Share Secured Loan at 3% APR.
  • Keep your credit rating positive or improve your score while avoiding risky debt relief solutions. Click here to find out more about how our Debt Consolidation Loan offers a better alternative to debt relief solutions.


Why Join the NHS Credit Union?


The NHS Credit Union offers savings accounts and affordable loans designed to help our members and their families manage their money smarter while saving for their future.

Membership is open to anyone who has currently or previously worked for the NHS in Scotland and the North of England, has provided contractual services to the NHS, or is related to a current member. (Check our full eligibility criteria here).

Benefits* of our savings accounts and loan products include:

  • Easy account setup.
  • Deposits can be taken directly through payroll deduction or direct debit.
  • All funds are protected by the FSCS scheme (up to £85,000).
  • Potential annual dividend on savings.
  • Savings can be pledged as security against loans.
  • Free Life Savings and Loan Protection scheme.

*Terms and conditions apply


Through the ‘Power of Us’, we encourage our members to save together and make the most of their NHS family and the support of our community.

As a member of the NHS Credit Union, you can be confident that your money is working in your best interest and that you are keeping your finances in good shape.

Further membership benefits include:

  • Membership for life.
  • Family members can also join.
  • Helpful resources to allow you to make informed decisions.
  • Dedicated apps so you can keep track of your finances.
  • Access to our Children and Young Person Savings Account for young relatives.


For a full list of benefits, read more on our site about the advantages of becoming a member.

If you’re ready to set up a savings account or loan with us or just want to find out more about becoming a member, then please don’t hesitate to get in touch.


Your NHS. Your credit union. Your money.




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