Just Credit Union

Just Credit Union is a credit union: a not-for-profit community lender that provides affordable loans and savings to its members¹. Like every credit union, it offers savings accounts and loans², and it can only accept members who share a "common bond", the connection that defines who belongs, such as living or working in a particular area³. Money saved with it is protected by the Financial Services Compensation Scheme up to £120,000, the same protection bank savings receive.

Because it is a credit union rather than a bank, the way Just Credit Union works is different in kind, not just in price. It exists to serve its members rather than outside shareholders, and members' savings are the pool from which loans to other members are made. Its lending is small-scale and personal: its advertised loan runs from £300 to £1,200, repaid over 3 to 12 months, with no arrangement fees and no penalty for paying the loan off early⁴. It also states that its loans and savings carry the FairLife mark, which it describes as recognising that it trades fairly and prices honestly⁴.

What Just Credit Union offers: loans and savings for members

Just Credit Union's business is the two things every credit union offers: savings accounts and loans². MoneyHelper describes the general shape of a credit union as an organisation that provides loans, savings, bank accounts and other services to its members⁷, though what any one credit union actually offers varies, and Just Credit Union's own advertised products are its member savings and its loans. Services at credit unions generally can include things like foreign exchange and prepaid debit cards, and some offer current accounts, but what is available differs from one credit union to another⁸.

Credit unions began as providers of simple savings and loan products to people who were financially excluded, and that original purpose still shapes how they work³. They are not-for-profit community lenders: any money they make is used to serve members rather than to pay outside investors¹. In practice this means Just Credit Union is geared towards smaller-scale, affordable borrowing and regular saving by people who live or work within its common bond, rather than towards the full range of products a bank sells.

Just Credit Union states that its loans and savings have been awarded the FairLife mark, recognising, in its words, that it "trade[s] fairly and price[s] honestly"⁴. The FairLife mark is a certification of trading conduct, not a form of regulation: the protection of your savings does not depend on the mark. If you want to understand credit unions as a whole before looking at this one, our credit unions guide explains how they work, and our guides to savings accounts and loans cover the product types in depth.

Just Credit Union loans: types, terms and repayment options

Just Credit Union's advertised loan allows you to borrow between £300 and £1,200, subject to status⁴. There is one important restriction for new borrowers: if it is your first loan from Just Credit Union, the maximum you can borrow is £600⁴. Once you have a loan with it, you can apply to top it up after only 3 months⁴.

The loan period is 3 to 12 months, with repayments running up to 52 weeks⁴. You can choose how often you repay: weekly, fortnightly, every 4 weeks, or monthly⁴. That choice matters more than it might sound, because matching repayments to how often you are paid makes a budget easier to keep to, and credit unions generally exist to encourage members to save and borrow in a sustainable way.

Two general features of credit union loans are worth knowing alongside these figures. First, interest on credit union loans is capped, though MoneyHelper notes that some credit unions require you to have a certain amount saved with them before you can borrow⁷. Second, as a member you can usually borrow at least two or three times the amount you have in savings, depending on the credit union's own loan policy⁹. Repayments on credit union loans are typically calculated on your reducing balance, so the interest you pay falls with each repayment you make¹⁰.

No arrangement fees or early repayment penalties: how the loan charges work

Just Credit Union states that its loan carries "no hidden charges, arrangement fees or early repayment penalties"⁴. In practical terms this means the cost of the loan is the interest that builds up on the balance as you repay it, and nothing stacked on top: no fee for setting the loan up, and no charge for clearing it ahead of schedule. If you come into money part-way through the term, paying the loan off early reduces the total interest you pay rather than triggering a penalty.

This is in keeping with the wider rules on credit union lending. Credit unions are limited by law in how much interest they can charge, a cap that exists precisely because they are meant to be an affordable alternative to high-cost credit¹¹. The interest rate on any specific loan is a figure for Just Credit Union's own website, which will show today's rates for its current products; what is fixed and knowable here is the structure: interest on a reducing balance, no arrangement fee, and no early repayment penalty⁴.

When comparing the cost of borrowing, the absence of fees changes what to look at. With many lenders the headline rate is only part of the cost, because arrangement fees or early settlement charges can add to it or trap you into a term you no longer need. Here the comparison is simpler: the interest charged on the reducing balance is the cost¹⁰. Our loans guide explains how to compare the total cost of borrowing across different kinds of lender.

Free loan protection insurance on death

Just Credit Union's loan includes what it describes as "FREE loan protection insurance which will pay off the loan in the event of your death"⁴. If you die before the loan is fully repaid, the insurance clears the outstanding balance, so the debt does not fall on your family or your estate.

This is a normal feature of credit union borrowing rather than something unique to Just Credit Union. The Building Societies Association notes that when you borrow from a credit union you normally get free life insurance to cover the value of the loan, so the loan is repaid if you die before paying it back in full, and that most credit unions offer free life or loan-protection insurance¹². The cover is tied to the loan itself, so it ends when the loan is repaid; it is not a life insurance policy you keep separately. If you want cover that protects your family beyond a specific debt, that is a different product altogether: our protection insurance guide and insurance guide set out the options.

Who can borrow: age, income and membership rules

To apply for a loan, Just Credit Union states that you must be aged 18 to 65⁴. Beyond the age rule, the conditions are the ones that apply to credit union borrowing generally.

You must be a member of a credit union to get a loan from it¹³, and Just Credit Union's own application asks that you are either a member already or eligible to join⁴. Eligibility to join rests on the common bond: all credit unions in the UK may only accept members who share one³. You can find credit unions you may be able to join through the findyourcreditunion.co.uk service².

On top of membership, lending is based on affordability. Just Credit Union states that all its loans are subject to status and based on an applicant's ability to afford the repayments⁴. Some credit unions lend as soon as you become a member, while others only lend after you have saved with them for a set period, and affordability is assessed against the money you have left after paying your bills¹². StepChange makes the same point: you need to be a member to get a loan, and some credit unions will ask you to build up savings first¹⁴.

• Age: 18 to 65 to apply for a loan⁴
• Membership: you must be a member, or eligible to join, and joining depends on the common bond³
• Savings first: some credit unions ask you to save for a while before borrowing; others lend as soon as you join¹²
• Affordability: every loan is subject to status and based on your ability to afford the repayments⁴

How to apply for a loan

Just Credit Union gives two routes to apply: complete the online application form, or download a printed copy, complete it and return it to its office⁴. Before applying, it is worth being ready for the affordability check that follows, because that is what the decision turns on.

When a lender assesses affordability it will look at your income and outgoings, and it will also check your credit file for details of your debts¹⁵. Just Credit Union states that its loans are subject to status and based on ability to afford the repayments⁴, so the application will ask about your financial situation. Being accurate matters: lenders are required to lend responsibly, and affordability checks are the mechanism that does it¹⁵.

If your application is declined, it is not the end of the road, and it does not mean no lender will have you. It means this loan, at this size, did not pass this credit union's affordability rules. Free help exists: StepChange Debt Charity can talk through your options, including emergency funding routes, and can check whether you are claiming all the benefits you are entitled to¹⁴. If you have a poor credit rating generally, official guidance warns that you may only be able to get a loan at a high interest rate or one secured against your home, which is a risk in itself¹⁹. Our debt guide and credit scores guide explain the alternatives and how your credit record affects them.

Savings accounts and what membership means

Saving with a credit union is not like saving with a bank, because you are a member rather than a customer. Credit unions exist to encourage all members to save regularly¹³, and you can choose to save as little or as much as you can afford²⁰. There is no expectation of a large lump sum: the point of the arrangement is regular saving at whatever level your budget allows.

Your savings also do something within the organisation. Members' savings are used to fund loans to other credit-worthy members of the credit union²¹. When you save with Just Credit Union, you are part of the pool from which its loans are made, which is why saving and membership are bound together and why some credit unions want to see a savings record before they lend. Business DebtLine puts the practical version plainly: if you join a credit union and start saving with them, you will also be able to apply to borrow money once you have proved you are a reliable saver²².

Savings in a credit union are held as "shares", and all shares in an affiliated credit union are eligible for protection under the Financial Services Compensation Scheme²¹. The practical protections and limits are covered in the section on how your savings are protected below. For the wider picture of savings products, including how credit union accounts compare with bank and building society accounts, see our savings accounts guide.

If you fall behind on repayments

The first thing to know is what a missed payment can cost you, and the first thing to do is talk to the lender. If you think you might miss a payment, contact the lender as quickly as possible and discuss your options²³. Lenders have hardship processes, and a conversation before the payment is missed is always better than silence after it.

Missed payments have consequences that build over time. The missed payments will be recorded on your credit file, and after several of them the creditor will think about a default notice and other recovery steps²⁴. If you have already missed payments, be aware that any help you receive, such as an agreed payment arrangement, will still affect your credit file²⁵. On joint debts, a missed payment is marked on both credit files regardless of who actually missed it²⁶.

Credit union borrowing has one further feature that is specific to the sector. If you miss payments on a loan, the credit union may be able to use your savings to repay the loan⁹. Because your savings and your loan sit with the same member-owned organisation, money you have saved with it can be applied against the debt you have fallen behind on. That can be a relief if it quietly clears a problem, but it also means your savings are not entirely out of reach while you owe the credit union money.

If you cannot get back on track, free debt help is available and costs nothing: see the next section for where to find it.

Where to get free help with money and debt

If repayments have become unaffordable, free and independent help exists, and it does not cost you anything to use it. StepChange Debt Charity provides free debt advice and can talk through options including emergency funding¹⁴. National DebtLine offers free guidance on credit union loans and on what happens when payments are missed⁹. MoneyHelper, the free government-backed service, explains credit union accounts and borrowing⁷.

Some people in financial difficulty look to benefit-based options as well, and the rules here are specific. You cannot get a Social Fund Budgeting Loan if you or your partner currently claim Universal Credit²⁸. Universal Credit claimants waiting for a first payment can instead ask for a Universal Credit advance, which is repaid by reducing your Universal Credit payments, usually over the following year²⁹. If you ask for an advance because of a change of circumstances during your claim, you can delay repaying for one month and repay over a six month period³⁰. To apply for an advance online you must have had an interview at a Jobs & Benefits office or a home visit³¹. Our benefits guide covers these routes in full.

Contacting Just Credit Union and making a complaint

Just Credit Union's website is www.justcreditunion.org⁵. Loan applications can be made online or on a printed form returned to its office⁴, and questions about membership, savings or an existing loan can be raised through the same channels.

If something goes wrong and you want to complain, take it to the credit union first and give it the chance to put things right. Financial firms must handle complaints under rules set by the Financial Conduct Authority³². If you are not satisfied with the final response, or if eight weeks pass without one, you can take the complaint to the Financial Ombudsman Service, which is free to use and can look at complaints about credit unions as financial businesses. Our consumer protection guide explains the complaints process step by step.

How your savings are protected

Money you save with Just Credit Union is protected by the Financial Services Compensation Scheme. Loans and savings at credit unions are covered by the FSCS¹, and all shares, meaning savings, in an affiliated credit union are eligible for that protection²¹.

The level of protection rose recently: on 1 December 2025 the deposit limit rose to £120,000⁶. This means that if the credit union failed, the FSCS would compensate eligible depositors up to that limit per person. Before the change, the widely quoted figure was £85,000 per person², so anything you read that still gives the lower figure is out of date. For most people saving small amounts with a credit union, the limit is far above their balance, and the practical point is simpler: your savings are covered in the same way and to the same limit as savings in a bank or building society.

The protection rests on the firm's status. Just Credit Union is on the FCA Register with firm reference number 213712, its status is Authorised with effect from 2 July 2002, and its listed permission is accepting deposits⁵. It also appears on the Bank of England's Prudential Regulation Authority list of credit unions incorporated in the UK³³. You can check its current entry yourself on the FCA Register at any time, and our consumer protection guide explains what the FSCS does and does not cover.