Co-op Insurance has expanded into the loans market, offering personal and secured loans in partnership with ClearScore.
The move comes after member-owners called for better access to finance, especially loans.
ClearScore’s credit matching platform is now available for Co-op members and customers to find personalised loan offers.
Unsecured personal loans between £1,000 and £25,000 are available, with repayment terms from one to seven years.
Secured loans start from £10,000 and can go over £500,000, with terms from three to 30 years.
Member-owners can also access exclusive rates from selected lenders.
Charles Offord, managing director at Co-op Insurance, said: “We are pleased to be expanding our presence within the financial services market with our personal and secured loans offering, in partnership with ClearScore.
“Our member-owners have told us that they want to have greater access to finance, particularly loans, that could help to make paying for things such as home improvements or managing unexpected bills a little easier.
“Our members are firmly at the heart of our Co-op and their views have been central to our decision to launch these products.”
Offord added: “We’ve listened to their feedback and with loans from Co-op, members and customers are now able to compare tailored loan offers from a panel of selected lenders.”
