Borrowing Money

• Helping members to save
• Helping them to keep their level of debt under control
• Offering financial and budgeting advice
• Making available, when needed, low cost credit
• Offering free insurance protection on savings and loans
• A credit union gives more choice for savings and loans

Truth-in-lending, with no hidden costs, no arrangement fees, and no penalty for early repayment is the policy of the credit union movement.

Saving while repaying a loan
Members are encouraged to continue saving particularly while repaying a loan.

Why is a Credit Union loan better?
A credit union loan has some special features;
•  Loans are insured at no cost to eligible members
•  No hidden fees or transaction charges
•  Very reasonable interest rates
•  Repayments calculated on the reducing balance of the loan.  This means smaller
   interest repayments as you repay your loan
•  Repayment terms to suit your particular circumstances
•  No early repayment penalty
•  Additional lump sum payments accepted with no penalty
•  Flexibility to make larger repayments than agreed without penalty

Typical example of £1000 loan borrowed over 12 months

How do I apply for a loan?
Only credit union members can apply for a loan. If you are a member you can log into the members area, via the "your account" log in on the right hand side of this page, to access an online loan application form.  
If you are not a member, why not visit our Join page for details about why, how and where to join.  In addition to loans, joining a credit union offers a whole range of benefits. What are you waiting for!