Green Loans

Green Loan

Saving money - helping the environment

The Hoot Green Loan is designed to help you make your home more energy efficient

If you are a Hoot member and living in Bolton the Green Loan can enable you to borrow money for energy saving items and make even more savings on your bills! The really good news is that our Green Loans are interest free provided you can show proof of purchase or installation and do not miss any loan repayments. With repayments spread over a period of up to 3 years at an affordable interest rate. Once your loan is repaid you simply have to produce proof of purchase and installation of your item and show that you have not missed any of your repayments - then you will receive a refund of any interest paid.

  • Interest free (terms and conditions apply)
  • No set up fees, late payment penalties or early repayment charges
  • Payment terms of up to 3 years
  • Weekly, fortnightly or monthly repayments
  • Free loan protection insurance (terms and conditions apply)
  • To be eligible for a Green Loan you must be 18 years of age or over and be a Bolton resident.
  • Loan amount and interest is subject to financial status and credit history.
  • We regret that we are unable to offer a loan if you are on a debt management plan, Individual Voluntary Arrangement or debt relief order or been declared bankrupt in the last 2 years.

If you are not already a member of Hoot Credit Union you will be registered as a member as part of the loan agreement process.

*Meeting these criteria does not guarantee acceptance. Interest and repayments depend on individual applications and will be made clear to you when signing the loan agreement. Late repayment of loans can cause you serious money problems. You should only take out a loan if you are comfortable you can afford the loan and can repay on time. Applicants are expected to save with Hoot while repaying their loan. 

  1. You agree to repay the loan to Hoot Credit Union and pay interest on the unpaid balance at the agreed rate. Interest will be charged on outstanding balances on a daily basis.
  2. If you have provided proof of purchase or installation and have not missed any loan repayments the interest paid on the loan will be refunded to you.
  3. You agree to make payments at the agreed frequency and will continue to do so until the loan and interest have been repaid in full. If you miss a repayment, you will incur additional interest on the loan. The first payment will be due on the date agreed in the loan agreement.
  4. If you don’t make your payments on time we will contact you to find out why. The interest on your agreement is based on you paying on time. If you miss payments you may end up paying more interest than on the agreement. If you stop paying your loan we can ask you to repay the whole loan at once. If you stop repaying your loan and we have to take steps to contact you for repayments, we may add the cost of chasing you to the amount owed to us
  5. If your loan is in arrears we have the right to take any savings you have towards the repayment.
  6. You have the right to settle the Agreement early at any time by paying in full the balance of the Loan and any unpaid interest outstanding. Hoot Credit Union will, on request, provide you with a written statement of the sums which have been paid and which remain outstanding under the agreement.
  7. You agree to keep at least the equivalent of 10% of your outstanding loan balance in your savings at any time. If you don’t have at least 10% of your loan in savings at the time you take out the loan, you agree to start saving to reach that amount. Anything over 10% of your loan balance can be withdrawn.
  8. You agree that you will inform us immediately if you give or receive notice of termination of employment, change of address or any other circumstance which will affect my ability to make the agreed loan repayments, so that alternative methods of payment may be arranged.
  9. You must be a member of Hoot to be eligible for a loan. If your loan application is successful, and you are not already a member, you agree to become a member of Hoot Credit Union.

Further Information 

  • All loans are subject to approval and availability of funds.
  • Your personal details will only be used in accordance with the Data Protection Act 1998.
  • Your personal details will only be shared with licensed credit reference agencies and for debt recovery purposes, should this be necessary.

Free Loan Protection Insurance

We have a group life insurance policy that covers your loan in case of death. Subject to terms and conditions, restrictions apply based on age and cover limits.

Credit reference and fraud protection agencies

We may use credit reference and fraud prevention agencies to help us make decisions. What we do and how both we and credit reference and fraud prevention agencies will use your information is detailed in the leaflet: A condensed guide to the use of your personal information by ourselves and at Credit Reference and Fraud Prevention Agencies. If you would like to read the full details of how your data may be used please click here, phone 01204 365024, or ask one of our staff. By confirming your agreement to proceed you are accepting that we may use your information in this way.