Community Savings is able to make loans at a low interest rate... which shall not exceed 1% per month on the outstanding balances. (APR of 12.68%)

Members must have saved for at least 3 months to qualify for a loan.

Loans can be up to three times a member’s projected annual savings. There is an upper limit on unsecured loans of £5,000, but in practice, rarely more than £1,000.

Borrowers must continue to save the minimum weekly or monthly sum in addition to repaying the amount borrowed.

This results in the loan being repaid and the member’s savings having grown.

Loans required for essential purposes will receive priority.