Loans

 "A better way to borrow!"

LTD Credit Union offers a unique range of personal loans to meet members’ specific borrowing needs. The benefits of borrowing from Credit Union include:

Efficient, personal and friendly service at all times. 

Applications can be submitted online, over the phone, by post, or in person. 

Competitive rates of  interest

Interest is calculated daily on your reducing balance, thus saving you money.

The rate you see is the rate you WILL get.

Decisions are based on ability to repay with all members being treated equally.

Repayments are made easy through

Standing Order

Bank Giro Credit

Deduction from Computer Cab Credits

Personal visit to Credit Union Office

By Post  (cheques)

 Free loan protection insurance (conditions apply)

Optional accident, sickness available

No hidden charges or fees. You can make extra payments whenever you want after the initial six month period.

The current range of loans available are.

Unsecured Personal Loans

Ideal if you are looking to borrow from the Credit Union without using any of your savings as security for your loan.

Savings Secure Loans

Ideal if you would like to benefit from our low interest rates through using your current Credit Union savings as security for your loan.

Please note - the amount you have saved with the credit union is taken into consideration when applying for a loan. 

Top-up Loans

A member may apply for a top-up loan at any time so long as that members borrowing limit is not exceeded. When applying for a top-up loan a members limit will be determined by his/her savings balance at that time. It is unlikely that a top-up loan will be granted for a sum less than £500. The members previous loan record be taken into account.

Interest Rates

Once you are an established member (after a minimum of eight weeks) you may be eligible to apply for a loan. As a borrower you will be charged a low fixed interest rate of 1% per month (APR 12.7%) on the outstanding balance.

Responsible Lending  

In line with the ethical values of the Credit Union movement. LTD Credit Union is a responsible lender and will not intentionally put our members into more debt than they are already able to cope with.