Tel: 0141 631 2952

19 January 2018
Notice Of Changes

Notice of Changes

With effect from October 2015, cash withdrawals will be capped at 1,000.

As a result of the Government introducing new regulation, credit unions and banks are expected to hold a high level of reserves; this applies across the board and is intended to make the economy more secure. This means that we need to find more income to add to the reserves. In order to protect the Credit Union and secure its future we have no option other than to introduce a small increase in our rate and charge an annual fee.

With effect from April 2014

The interest will go from 1.25% per month on the reducing balance to 1.50%

Annual maintenance fee of 5 will charged from your shares.

It is hoped that through other income generation initiatives that we will be in a position to reduce the interest in the future.

Your support and co-operation in this matter is greatly appreciated.

 

LOAN AMOUT

RATE OF APR

NUMBER OF PAYMENTS

PAYMENT AMOUNT

TOTAL PAYMENT

TOTAL

INTEREST

CREDIT UNION

500

19.1% 

55 WEEKS

10

549.83

49.83

CREDIT UNION

1000

19.1%

123 WEEKS

10

1228.67

228.67

PROVIDENT

500

272.2%

52 WEEKS

17.50

910.00

410.00

WONGA

400

5853%

39 Days

ONE LUMP SUM

563.65

163.65

 

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