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borrowing

The Credit Union has a policy on lending, designed to meet the needs of individual members and is based on ability to repay.

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We currently have two loan products:-

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  • Regular loan with an interest rate of 12.68% per annum, 1% per month on a reducing balance.

  • We also offer a home improvement loan with an interest rate of 10% per annum.

 

Both loans can be repaid over a period of 1-5 years, dependant on affordability.

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Your Credit Union loan is protected in the event of your death* – helping protect your family from the financial burden of bereavement.

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When you take out a loan with us you also get Loan Protection. If you were to die before your Credit Union loan is repaid, this protection can help towards settling the debt, so that it isn’t passed on to your loved ones.

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Of course, it won’t take away the pain but it’ll certainly help with the financial strain of bereavement. This benefit is included at no extra cost to you as part of your Credit Union loan arrangement* so just for once, peace of mind doesn’t cost the earth; it’s just another benefit of being a Credit Union member.

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As a Credit Union member, you’re not only borrowing for the things you desire to make life more comfortable for you and your family; by choosing your Credit Union to borrow from, you’re helping your Credit Union provide better value loans for all Credit Union members. With the added peace of mind provided by Loan Protection, loans from your Credit Union can offer better financial security for you and your family.

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*Subject to terms and conditions. Cover limits vary and certain restrictions apply based on age and cover. Please ask at your Credit Union for more details about the individual limits and restrictions of Loan Protection.

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 Loan Protection is underwritten by Covéa Life Limited.

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Covéa Life Limited is authorised by the Prudential Regulation Authority and regulated by Financial Conduct Authority and Prudential Regulation Authority.  

       

 In association with Cuna Mutual Group.

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CUNA Mutual Group Limited CUNA Mutual Group Limited is authorised and regulated by the Financial Conduct Authority.

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