NO LOAN IS TOO SMALL .
LIFE INSURANCE IS PROVIDED ON LOANS AND SAVINGS AT NO EXTRA COST.
AFTER 10 WEEKS OF SAVING YOU CAN APPLY FOR A LOAN OF UP TO 3 TIMES YOUR SAVINGS TOTAL.
FIRST TIME LOANS HAVE A MAXIMUM LIMIT OF £1000.00 AND THERE IS NO MINIMUM LIMIT.
SUBSEQUENT LOANS ARE AVAILABLE UP TO 4 TIMES YOUR SAVINGS TOTAL, SUBJECT TO THE MEMBERS PREVIOUS REPAYMENT RECORD AND AVAILABILITY OF FUNDS. THE CURRENT MAXIMUM IS £3000.00 AND ONCE AGAIN THERE IS NO MINIMUM. (THIS MAXIMUM LIMIT WILL INCREASE WITH OUR GROWTH).
LOAN INTEREST IS 1% PER MONTH ON A REDUCING RATE BASIS.
LOANS OF £2000.00 OR MORE ARE AVAILABLE TO QUALIFYING MEMBERS AT A REDUCED RATE.
SAVINGS ALSO CALLED SHARES.
WE ARE A NOT FOR PROFIT UNION, WE ARE FOR MEMBERS - ANY SURPLUS FUNDS ARE RETURNED TO MEMBERS AS A DIVIDEND.AS A MEMBER YOUR SHARES ENTITLE YOU TO ANY DIVIDEND THAT YOUR ELECTED BOARD DECIDES IS PAYABLE.
YOUR SHARES ARE RETURNED TO YOUR NOMINATED BENEFICIARY UPON YOUR DEATH. ANY LOANS ARE REPAID ON DEATH BY THE INCLUSIVE INSURANCE ,PAID BY THE CREDIT UNION.
NO SHARE WITHDRAWALS ARE ALLOWED WHILE A LOAN IS IN PLACE OR YOU ARE SECURING ANOTHER MEMBERS LOAN.
YOU CAN ALSO SAVE AND REPAY LOANS BY STANDING ORDER FROM YOUR BANK/BUILDING SOCIETY TO OUR BANK.
OUR MINIMUM CASH DEPOSIT IS 50.PENCE.