Similarly to the Low Income Loan, the Payroll Loan was intended for new or existing members who do not qualify for a share based loan.
To qualify for a Payroll Loan, you must work for one of our payroll partners (North Ayrshire Council, Hansel village, Ayrshire Housing and SeaScape). Members can attract an initial loan of £500 with interest set at 2% a month on the unpaid balance, monthly repayments of £50 (plus savings) are then taken straight from your wages.
- I am 18 or over
- I work for one of 1st Alliance (Ayshire) Credit Unions payroll partners North Ayrshire Council, Hansel village, Ayrshire Housing and SeaScape
- I can afford the Loan repayments and Share deposits
- I do not have an undischarged Bankruptcy or Trust Deed