Loans

Loan Applications

The Credit Union will consider loan applications from members for any 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, subject to credit criteria.

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

Only members are eligible to receive loans from your credit union.

What do you need when applying for a Loan?

In deciding whether or not to grant the loan the credit union will take into account the members record of savings and loan repayments, as well as ability to repay. Once the loan is granted the member will be asked to complete a Credit Agreement, which is a legally binding document being an undertaking to repay the loan, and to commit to regular repayments.

We generally require some or all of the following information to accompany Loan Applications i.e.

• Evidence of Income e.g. payslips, accounts etc.
• Three-month recent current account bank statements
• Mortgage statement for the past year

The more complete the application is, the quicker the decision is made.

Credit Committee meet every Thursday, in order for them to review your application please ensure that you complete all relevant sections of application form and include all supporting documentation with application.

Remember - only members are eligible to receive loans from your credit union - so join up now!