AN application can be accepted anytime the premises are open or apply online. Applications that are reviewed by the lending assessment team aim to have a decision in 48 hours (except weekends and holidays). The member will be contacted via SMS Message to advise if their application has been successful.
Whether you're looking to borrow to help with your household expenses or for a larger purchase, we have the right loan to suit you. We've made it easy to borrow at a fair, affordable rate with no hidden fees and no early repayment charges. We also pay interest rebate annually to all members with loans. Please see our rates below:
Loans up to £7,000
12% (12.68% APR)
Min Term 1 month
Max Term 60 months (5 Years)
£7,000 - £14,999
9.95% (10.42% APR)
Min Term 1 month
Max Term 96 months (8 Years)
£15,000 - £70,000
8.5% (8.84% APR)
Min Term 1 month
Max Term 120 months (10 Years)
OUR LOANS AT A GLANCE
SECURED LOAN - LOANS COVERED BY SAVINGS
Use your savings to borrow
Our Secured Interest Loan rate is offered to members borrowing a loan up to the value of their share balance max £40,000 - 6%
(Terms & Conditions Apply)
6.0% (6.34% APR)
Min Term 1 month
Max Term 120 months (10 Years)
Loans Covered by Savings Include
· This type of loan is covered by the amount of shares you have
· Certain types of loans can be issued at the point of application - on all other applications we aim to have a decision for you our member within 48 hours
· Photographic ID is always required when applying or collecting a loan
UNSECURED LOAN
Borrow a bit more than you saved
An application can be accepted anytime the premises are open or apply online via website or app. Applications that are reviewed by the Lending Assessment Team we aim to have a decision in 48 hours (except weekends and holidays). A SMS message will be sent to advised if the application has been successful. The Lending Assessment Team reserve the final decision on this type of loan. Loan applications are subject to credit checks.
Members always reserve the right to appeal in writing if they are displeased with a decision the lending assessment team has made.
REPRESENTATIVE EXAMPLE
Borrow £800 over 18 months, repay £48.79 per month, total amount payable (including interest of £78.14) is £878.14.
Annual rate (fixed) is 12.68%.
