Why borrow with the Credit Union?
The Credit Union is here to help and it provides loans to members at attractive terms.
If you are looking for a dream holiday, car, house, home improvements or for whatever the reason, the credit union offers an attractive loan rate to suit your needs.
One of the main benefits of taking a loan with the credit union is that the interest is calculated on a reducing balance, this means the faster you pay off your loan the less interest you pay.
Savings and benefits of a CU loan
- Low Cost Loans at very reasonable interest rates, from 7.22% APR for Cars and Students
- Competitive Standard Loan Rate only 12.68% APR
- Interest Rebate will apply on all standard Loans
- Interest is only charged on the reducing loan balance – this means you pay interest on what you owe
- Free Loan Protection Insurance to eligible members
- Easy repayment options by standing order, direct debit
- No penalty if you make larger repayments than agreed, make additional lum sums, or you repay the loan early.
- Repayment terms flexible to suit your personal circumstances. Repayments can be rescheduled if difficulties arise.
- No Interest charged on interest
- No hidden fees or transaction charges
- Prompt personal attention from friendly staff
- Easy application process and speedy decisions
How to Apply for a loan
- Applying for a loan is easy and quick decisons are made on loan applications. Members can apply for a loan in a variety of different ways;
- Phone You can phone and speak to a member of our dedicated loans team
- Visit Branch Alternatively, you can visit our Credit Union branch
- Did you you own your own car from day 1
- No balloon payment at the end
- Local friendly face to talk to, not some impersonal call centre
- Absolutely no fees or charges
- No penalties if you clear your car loan early
- Interest charged on the reducing loan balance, so you pay less interest with each repayment
- Life assurance on your loan at no extra cost
- Terms and conditions apply to loans and life assurance
- Loans are subject to approval based upon affordability