Rainy day

1 to 5 Account

A form of flexible Credit - "Ideal for Life's Emergencies"

Sometimes it's good to know that you have access to additional funds that could help you out when you need it most.

If you find yourself in need of an emergency loan, perhaps for car repairs, a boiler breakdown, or any potentially expensive situation that you can’t predict, then we probably have the best alternative to payday loans. The 1 to 5 Account is a loan up to a maximum of £5,000 which will be held on your account, ready to be transferred at a moment`s notice. You will not pay a penny in interest unless you access the loan and will then only pay interest on the amount that you withdraw. Loan repayments for the 1 to 5 Account will be credited back into the account so that you can access the funds over and over again.

  • Great competitive rate of 19.6% APR payable only on the amount you choose to withdraw
  • Free loan protection insurance (terms and conditions apply)
  • Interest is charged on your outstanding loan amount so will reduce with your decreasing balance
  • Continue to build your savings and earn a dividend whilst you repay your loan
  • No set up charges, early settlement charges or hidden fees

As this product is intended to assist you when you need some extra help, you will retain access to your Membership Savings providing that they are not tied in with another loan product.

Step 1: Choose from 5 credit limit options between £1,000 and £5,000 - increasing by £1,000 at each limit.

Step 2: If your application is successful, your account will be credited with your new 1 to 5 Account, which can then be accessed when you need it most.  

Step 3: If you choose to withdraw funds from your 1 to 5 Account then interest will only be charged on the loan amount that you withdraw and not on the full credit limit.

Step 4: You can continue to withdraw funds from your savings (if available) at the same time as repaying your 1 to 5 Account. This means you can take your savings and make up the difference with your 1 to 5 Account, to pay for your emergency.

How is the 1 to 5 Account different?

  • The 1 to 5 Account is not automatically paid into your bank like a regular loan but is held on your account with us until you need it most.
  • Repayments are fixed based on the credit limit you apply for and will stay fixed no matter how much you withdraw from your 1 to 5 Account, which means you can stay in control of your outgoings.
  • Borrowing funds from your 1 to 5 Account can help members avoid high-interest payday loans that are easy to access in times of need but expensive to repay.
  • As with all our loans, interest is charged on a reducing balance which means you pay less interest each time a repayment is made on your loan amount.
  • Unlike most high street lenders we have NO set up charges, NO early settlement fees and NO hidden cost. What is more is that you will automatically qualify for FREE loan protection insurance* that is provided at no direct cost to you. *(terms and conditions apply)

1 to 5 Account Limits and Associated Repayments | Weekly & Monthly options

Repayments shown in this table are calculated over a 4 year term.

  Account limit Weekly repayment Monthly repayment



£7.00  £28.00

















Loan repayments will remain the same regardless of the amount withdrawn from the approved credit limit.

Important Notice: The 1 to 5 Account is a form of revolving credit and is subject to review every 5 years. The option to continue with the 1 to 5 Account is available after 5 years but only if you apply to renew your agreement. If you do not wish to continue with the 1 to 5 Account, then the outstanding balance will become repayable and restrictions on withdrawals from the 1 to 5 Account will become active.

Your Credit Union loan is protected in the event of your death1 – helping protect your family from the financial burden of bereavement.

When you take out a loan with us you also get Loan Protection. If you were to die before your Credit Union loan is repaid, this protection can help towards settling the debt, so that it isn’t passed on to your loved ones.

Of course, it won’t take away the pain but it’ll certainly help with the financial strain of bereavement. This benefit is included at no extra cost to you as part of your Credit Union loan arrangement2 so just for once, peace of mind doesn’t cost the earth; it’s just another benefit of being a Credit Union member.

As a Credit Union member, you’re not only borrowing for the things you desire to make life more comfortable for you and your family; by choosing your Credit Union to borrow from, you’re helping your Credit Union provide better value loans for all Credit Union members. With the added peace of mind provided by Loan Protection, loans from your Credit Union can offer better financial security for you and your family.

1Subject to terms and conditions. Cover limits vary and certain restrictions apply based on age and cover.

2Please ask at your Credit Union for more details about the individual limits and restrictions of Loan Protection or click here to view online.

* Member criteria: The 1 to 5 Account is available to all members including new members (within 12 months of joining). New Members can apply for a maximum. New members must have made at least 1 regular payment through either payroll deduction or direct debit before any loan can be considered. 

We ask all members to make NO more than 1 application for a loan within 6 months of each request.

** Free Loan Protection Insurance: As a Member of Voyager Alliance Credit Union you will be automatically covered by our Life Insurance Policy at no direct cost to you. In the event of your death, any outstanding loan balance you may have with Voyager Alliance Credit Union is cleared and not left to your Next of Kin. This is offered to all members up to the age of 69.

Life Insurance on loan balances does not cover members over the age of 69.

For full terms and conditions or more information about the policy, please click here.

Or for a summary please click here.

Data protection statement

In accordance with the principles of the Data Protection Act 1998, we will use your personal details for the purposes of managing your accounts with Voyager Alliance Credit Union.

Under the Distance Marketing Directive, you have the right to cancel your savings account within 14 days of opening without incurring financial or other penalty.

How to apply

Available to all members with an active Membership Savings Account

Members are unable to apply for the 1 to 5 Account through the website but they can contact us via email or telephone to request an application form or for more information about the 1 to 5 Account or loan options.

Contact us

Protected loans to protect your loved ones

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