Your Credit Union

Eastern Savings & Loans Credit Union is working with Cambridge City Council to provide you with access to secure savings and affordable loans. We are a successful cooperative business offering user-friendly banking services, including online and telephone banking, for all employees.

All employees of Cambridge City Council can benefit from Credit Union membership.

Membership includes:

  • Loans from £500 - £7,500
  • Online loan application
  • Easy access savings
  • Online & Telephone banking
  • Christmas savings accounts
  • Free life and loan insurance cover (subject to terms and conditions)

Savings

Once you become a member of our Credit Union,  you can set up deduction from your salary, or you can set a standing order to save on a regular basis, or at a frequency that suits you. 

Loans

Because Eastern Savings & Loans does not have to pay shareholders, we can provide loans with low interest rates that are suitable for everyone. You do not need to have savings with us before you take out a loan, you can join our Credit Union and apply for a loan the same day.

We have three loan products, the Starter Loan, for short term credit needs, (£500 - £1,000). The Flexible Loan, (£1,000 - £3,000) and the Advantage Loan (£3,000 - £7,500) for larger longer term borrowing. Our interest rates are very competitive and with no fees or charges for early or additional repayments, we could save you money. Our loan application form is easy to fill out, and we aim to get a decision to you in 3-4 working days.

If wish to apply for a loan the repayments are made in the same way as your savings from salary or via standing order from your bank account.

Important Note: We consider all loan applications from our members individually, helping you to borrow responsibly according to your ability to repay.

  • You can join our Credit Union online or download a paper form and send it to 61/63 Austin Street, Ipswich, IP2 8DF.
  • Membership is £5, £2 admin fee and £3 minimum account balance, you can pay this via PayPal or over the phone via debit card.
  • Once you have become a member you can instruct Human Resources or your bank to set up payment of an amount and frequency of your choosing. This can be for both savings and loan repayments.
  • You can also apply for a loan online or download a paper form and send it to 61/63 Austin Street, Ipswich, IP2 8DF. Our loan applications is easy to fill out, we aim to get a decision to you in 3-4 working days.