Benefits of Borrowing

Borrowing Made Easy

At no extra cost to the borrowing member, loans are insured in the event of the member’s death (terms and conditions apply). On the death of an eligible borrowing member the loan dies with the member and the deceased member’s family is not liable for repaying the outstanding balance.

  • We offer very competitive interest rates; 1% per month on the reducing balance (Approx. 12.68 % APR)
  • We guarantee that the interest rate will never increase, it may come down but will never rise.
  • Interest is only paid on the outstanding balance, The quicker your repay your loan the less interest you pay.
  • There are no set up fees.
  • There are no maintenance fees.
  • There are no transaction charges, unlike others we do not charge you for making repayments,
  • There are no penalties for early repayments, in fact we encourage them.
  • Where possible we set repayments which suit the member’s individual circumstances.
  • Repayments can be paid in any of our offices during opening hours, ( See our Opening Hours )
  • Repayments can be made by Standing Order, whereby repayments are made directly from your bank account to your loan account in the credit union.
  • Repayments can be deducted from your pay, provided that your employer participates in the scheme.
  • Repayments can also be made on-line by EFT from your own armchair.