LOANS

Value of Shares Loans

A Value of Shares Loan gives you a straightforward and affordable way to borrow, using your existing savings as a guide. It’s a flexible option that lets you access funds when you need them, while still supporting your savings goals.

(Representative 8.30% APR. Terms and conditions apply.)

Apply for a loan

Eligibility requirements

You must have no other ECU loans outstanding.
You must have sufficient savings to cover the full value of the loan you request.

Loan details

Borrow up to the total amount you currently have saved.
A straightforward, low-cost loan with no top-ups available.
A great way to access money while keeping your savings journey on track.

These loans are charged at 8.30% APR. Terms and conditions apply.

Check how much you could borrow

Value of Shares Loans 8.30% (Monthly)

Monthly Payment: £86.22

Total Payments: £1,034.67

Total Interest: £34.67

Value of Shares Loans 8.30% (Every Week)

Weekly Payment: £19.86

Total Payments: £1,032.64

Total Interest: £32.64

Value of Shares Loans 8.30% (Every 2 Weeks)

Weekly Payment: £39.74

Total Payments: £1,033.25

Total Interest: £33.25

Value of Shares Loans 8.30% (Every 4 Weeks)

Weekly Payment: £79.57

Total Payments: £1,034.47

Total Interest: £34.47

Whilst every care has been made in the production of this document, the Credit Union, or its staff, cannot be held responsible for any omissions, errors or other mistakes made herein. This document is for illustrative purposes only, so as to give you, the borrower, an overview of the potential cost of borrowing. ECU would be happy to give you a tailor-made quote to suit your borrowing needs.

Apply for a Value of Shares Loan

Why borrow with Enterprise Credit Union?

You get more than a loan, you get support, protection, and peace of mind.
Fair, affordable loans designed to support you when you need it most
Free loan protection included, offering extra security for you and your family
Your savings are safeguarded by the FSCS up to £120,000, so you can save and borrow with confidence
Flexible and convenient repayments, with payroll deduction available through select employers
No hidden costs or surprise charges, just honest, transparent lending
Support for every stage of life, helping you and your family build brighter financial futures

Not what you were looking for? Find other loans available

Compare our loans

Loans FAQs

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How do I apply for a loan?

If you’re not yet a member of Enterprise Credit Union and are looking to apply for a loan, please complete our loan application online. If you’re an existing member looking for a new loan or a top up to an existing loan, you can log in to your online account or use our mobile app, you can also contact us direct to discuss your options. Please click here to see how you can apply using our mobile app.

How much can I borrow?

We have a number of loans for our members, each with different criteria. Please select the loan product more suitable for you. Each loan product has its own loan calculator, so you can see how much you may be able to borrow and what your repayments could be.

How do you assess my loan?

We take a holistic approach to every loan application, using common sense and care to make sure you are not borrowing more than you can afford or stretching your budget too far.

Do you perform a credit check?

At Enterprise Credit Union, we consider each application individually and take into account your personal circumstances.

As part of our assessment, we may carry out searches with credit reference agencies and fraud prevention agencies. These checks may be recorded on your credit file and could be visible to other lenders.

With your consent, we may also use Open Banking to securely access information about your income and spending. This helps us build a fuller picture of your financial situation and make responsible lending decisions.

We will always explain what information we use and how it affects your application.

Do you use open banking?

Yes, when considering a loan, we assess how you are managing your finances to ensure the repayments are affordable for you. As part of your application, you will receive a secure Open Banking link, which allows you to safely share the information we need to complete this assessment quickly and efficiently.

I don’t have online banking, how will you assess my loan?

We encourage members to use online banking, as it makes the application process quicker and easier. However, we understand that not all members are comfortable using online services.

If you prefer, we can accept a bank statement covering the last 3 months, which you can email to us or drop into the office along with your loan application.

Is open banking safe?

Yes, using our preferred supplier Planky, we only view and assess data from within a totally secure environment. Planky do not share your data with anyone other than ECU.

How long does it take for the credit union to approve a loan?

Most loan decisions are made within just 3 working days. However the decision can take up to 7 days when we are busy or your application is more complex. The funds will usually be released to you the same day you formally agree to accept the loan.

How long does it take to receive the funds?

If you’ve e-signed your loan agreement before 3pm on a normal working day, your loan will be paid to your bank account after 4.30pm that day. Paper loan agreements signed before 3.30pm on a normal working day will be paid to your bank account after 4.30pm that day. Any loans signed for after this time will be paid to your bank account the following working day.

How do I repay my loan?

You can pay into your account via Standing Order, Debit Card, Bank Transfer, Direct Benefit payment, and at any of our branches. We also accept cash and cheques at any of our branches and work with a number of local businesses offering payroll deductions.

For more info on how to make a payment, please visit our How To Pay page.

Can I make additional payments to my loan?

Yes, you can make additional payments to your loan at any time. Paying more off your loan can reduce the amount of interest you pay overall and help you clear your balance sooner.

If you wish to make an additional payment, you can do so by contacting us directly or by using our mobile app. If you do make an additional payment, please make sure you use your member number as the payment reference so we can allocate the payment correctly.

Can I top up my loan?

Top-ups on loans will only be considered after 20 weeks or five months of regular loan repayments. Top-ups are not available on Uniform or Season Ticket Loans.

Are there any penalties if I want to pay off my loan early?

No, unlike some lenders you can pay off your credit union loan early at any time with no financial penalties or fees.

Do I need Insurance to cover my loan?

Loan Protection Insurance is built into your loan when you borrow from Enterprise Credit Union. This provides peace of mind, knowing that in the event of your death, your outstanding loan balance will be cleared, subject to terms and conditions.

Borrowers must be under the age of 80 and will be asked to complete a declaration of health when taking out a loan. Some exclusions apply.

If you would like more information about Loan Protection Insurance, please contact us.

I am struggling with loan repayments, what should I do?

During these challenging times, we understand that your personal circumstances may often change. We are committed to helping our members manage if they are struggling to meet loan repayments. If you do find yourself in this situation, please contact us immediately to discuss your individual circumstances and we can help find the right, affordable solution for you.

You can also visit our Money Helper tool, for free and impartial advice on all money matters.

Can I apply if I have poor or limited credit history?

We understand that not everyone has a strong or established credit history. In some cases, we may be able to offer guidance, support, or suitable options depending on individual circumstances. This may include access to a borrowing option, alongside money coaching to help you understand your credit position and explore ways to improve it over time.

If you’d like to have a confidential conversation about what support or options may be available to you, you can get in touch with our money coach team by completing the contact form here.

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