Tel: 0141 631 2952

26 April 2018

Loan Officer Contact Details:

Monday - Thruday

9am - 5pm

Office Phone: 0141-631-5141

Mobile Phone: 07501721037


Loan Applications

The Credit Union will consider loan applications from members for worthwhile purpose. Each application is treated in the utmost confidence and will be considered on its own merits. It is credit union policy to meet the borrowing requirements of as many members as possible, depending on the available funds.

Applications for loans are made on a standard loan application form. Loans can be applied for by calling to our office, by telephone. Our staff will give you any assistance required. Loans will then be considered by a Loan Officer, or will go to the weekly Credit Committee meeting.

What you need when applying for a loan

In deciding whether or not to grant the loan the loan officer or credit committee will take into account the members record of savings and loan repayments, as well as ability to repay.

Remember - only members are eligible to receive loans from your credit union.

Planning and managing repayments

Credit unions are flexible with regard to repayment plans, though there are some legal limitations to length and amount of loans. The member will be advised on the best repayment plan to meet their own circumstances. Members are generally advised to repay a loan in as short a time as possible, 5 years unsecure and 10 years secure. Should a member experience difficulties in meeting repayment commitments, they should immediately explain the situation to the credit union, which will treat the matter sympathetically and in total confidence. Depending on circumstances, the loan will be renegotiated if possible. Click here to view credit control information.
There are no penalties associated with clearing your loan quicker than agreed.

Interest on credit union loans

Credit Unions charges 1.5% per month. This represents an interest rate of 18% APR (Annual Percentage Rate). Credit unions do not charge fees or transaction charges. View our loan calculator to see how reasonable a credit union loan could be. Since the interest is charged only on the outstanding balance of the loan, you will pay even less if you repay in a shorter time than planned.

ClickDownload Loan Application Form (451.9kb)
ClickDownload Loans Policy (71kb)
ClickDownload Loan Agreement (168.6kb)

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