Loans

• Loan amount £100-£2000 Maximum
• Affordable 24% APR 
• Flexible loan repayment plans – you can pay off your loan over 12-18 months
• No early repayment charges or penalties
• Faster Processing options available

• You have been a member with the Credit Union for at least three months and paid in 3 times consecutively.
• You are working and able to keep up with the repayments
• You have no outstanding loan
• You have not been a debtor with us within the last year
• You have not missed any payments to previous loans or informed us of financial difficulties

As Credit Unions promote savings, we require you to continue saving £10 per month

on top of your loan repayments.

This means that after 12 months you could have a total of £120 saved on your shares

Loan repayment period

You can repay the total outstanding loan with any interest on your next payday with no added charges.

If this is not possible then just stay with the schedule

Loan process

Unlike our regular loan, the Quick loan gives you easy access of up to £2000, which could help towards things such as school uniform, holiday deposit, Christmas presents to name a few 

This loan is available to all members without an existing loan. 

• Low-interest rates of 1.5% per month on the reducing balance
• Free loan protection insurance and life insurance up until the age of 79

• Savings continue to grow while paying back your loan
• No early repayment penalties
• Fixed interest rate that won’t change throughout the loan

Example 1

Member (A) has £300.00 in her share account, x2 = £600.00 (highest loan application value)

If a member has saved with us over three years then they are able to apply for 3x their shares.

 Example 2 

 Member (B) has £1500.00 in shares, x3 = £4500.00 (highest loan application value) 

The loan application form to be completed by the member

A Guarantor (someone over 18 years old and working) who is happy to give 3 forms of ID as below

Three forms of ID for both the member applying for the loan and their Guarantor:

1. Passport/ Driving licence (current)
2. Utility Bill (current)
3. Last current wage slip/ Current Bank statement showing wages

The loans are approved by the loans officer on a Monday evening. Once approved the money is processed by the office staff on the Tuesday via Bank Transfer.

  Key Features

• payments start x3 months after date loan started so ideal for Christmas or school uniform
• Loan amount £500-£2000
• 24 months with interest free first 3 months totalling 27months
• 5% of the loan applied for will be charged if the loan is fully paid back in the 3 month interest period

• Payments start 3 months after the loan is taken
• Savings continue to grow while paying back your loan
• Fixed interest rate that won’t change throughout the loan

As members requested we now offer a  Bigger loan from £7500-£10000

Great for more expensive occasions, like a family wedding, car purchase or Holiday of a lifetime.

• Savings continue to grow while paying back your loan
• No early repayment penalties
• Fixed 12% interest rate that won’t change throughout the loan
• As this is a new loan we currently require the members to have 50% of the loan amount in savings 

for £10000 loan the members  requires £5000 in savings with the Credit Union & Guarantor required