Apply for a Loan
To apply for a loan, you will need to fill in Loan Application Form, which you can download by clicking on the link below
| loan Application |
The loan application form is a PDF document and Adobe Acrobat Reader is required to the view it. Adobe Acrobat Reader can be downloaded for free by clicking on the Get Acrobat Reader icon.
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Download Loan Application Form
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What Are The Advantages Of A Credit Union Loan?
- Tailor made schedules
- Your loan is insured at no extra cost to you subject to certain terms and conditions. This means that in the unfortunate event of your death, your loan will be paid off in full.
- Loan insurance coverage ceases at age 85 years.
- There are no extra fees or charges for setting up the loan.
- There are no penalties for lump sum payments or early redemption.
- Should your financial circumstances change, there is usually some flexibility to re-negotiate your repayments.
- Loans are all approved locally with 80% off loans being approved on the same day.
- Honesty in lending
Guarantors
A member may offer a guarantor at loan application stage. The Credit Committee may also seek a guarantor depending on the loan application.
If a guarantor is required, the full details must be provided before the Member calls at the office to collect the loan. The guarantor must be present at the time of collection to sign the credit agreement and they must provide photographic ID. They will also be asked to sign an advice form, which clearly shows the total amount being guaranteed.
A guarantor may be informed if the loan that has been guaranteed falls into arrears. The credit union reserves the right not to accept a person proposed as Guarantor.
If the member receiving a loan fails for any reason to maintain the promised repayments, the Guarantor becomes legally responsible for the repayment of the loan or any unpaid balance thereof.
Credit Control
If you find yourself having problems meeting your repayments on your credit union loan:
- Don’t panic
- Do not ignore the problem - it will not go away
- Take immediate action
- Contact our Credit Control Officer to arrange an appointment and start the process of getting back on your feet!
View our loan calculator to see how reasonable a credit union loan could be.
