Members are eligible for a Loan from the Credit Union, after they have been a member for 3 months or 13 weeks. Generally the first loan is limited to twice your Shares (Savings). Second and subsequent loans are available for up to 3 times your Shares (Savings). The current Maximum loan we can give you is £5,000.
Interest on a first Loan is charged at 2% per month (26.8% APR), on the outstanding balance. There are no charges for early repayment or any other 'hidden' costs. First loans must be paid in full before further loan applications can be considered
Second and subsequesnt loans are charged at 1% per mon (12.7APR)
All loans are subject to assessment by the Credit Committee.
We aim to process your loan within 7 working days.
CommuniSave is a responsible lender and we never encourage members to borrow more than they can afford to repay. For a Loan Application form, click on link below.
 Download Loan Application Form (179.5kb)
Debt Check Test - use the link below
http://www.moneymadeclear.fsa.gov.uk/debt_test
Loan Repayment Calculator
Click HERE to access a Loan Repayment Calculator.
Members Comments
- the application process was so simple, and I had my cheque in just 3 days.
- I needed £200 for repairs to my Car. The Credit Union was by far the best way of borrowing this for me.
- It's good to know that the Credit Union gives me free Life Insurance on my Loan
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05 September 2010
