Normally a member would be able to apply for their first loan after having saved regularly over a 13 week period. The first loan would equate to double the member’s savings, up to a maximum of £500.00 and would have to be paid of in full before a second loan could be applied for
Loan interest rate is 18% APR (based on 1.5% per month) and with the Credit Union, the faster you pay back the loan, the less interest you will pay
The maximum loan currently available is £10,000.00. Please see our Loans Policy for further information.