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Christmas Loan

Loans » Christmas Loan

Annual General Meeting 17th June 2021
20210617 SCU Virtual AGM registration details (docx)
20210617 SCU Covering letter email for AGM (doc)
20210329 SCU board and committee Biogs (docx)
20210617 SCU Agenda and Calling Notice (doc)
20210617 Nomination Form for all posts (doc)

Christmas Loan

"I would like to say a massive thanks to Karen and the volunteers at the Suffolk Credit Union for their support and assistance during our wedding planning. Using Credit Union for an affordable loan helped with the cost of all the special touches that made for a fantastic day. It has enabled us to book the honeymoon of our dreams to Cape Verdi. Over the years Karen has helped me with financial support and guidance and the Christmas Saver is a fantastic way to ensure that Christmas is stress free and paid for."

~ Cheryl and Andy
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Borrow from £300 to £500

Available until mid-December only.

If you need immediate funds to help survive the festive season and are not yet a member, do not worry - our instant Christmas loan can help you. It is charged at a higher rate than normal, but you do not need to have saved for three months before borrowing.  Please complete a Membership Application Form.

Conditions

You are employed by, or receive a pension from a public sector organisation.

All payments must be made through payroll - if your organisation is not a Suffolk Credit Union Payroll Partner please complete a Bank Standing Order.

The loan must be repaid over 12 months.

You must save a minimum of £10 a month or more on top of your loan repayment.

You are not eligible for any other loan until this loan is repaid in full.

Benefits

• Free Loan Protection

• Free Life Savings

• Fixed interest rate of 25.9% APR

• Your savings grow as you repay the loan

Examples of Loans and Repayments

Loan Amount Monthly Payroll To Savings To Loan Repayment Total Interest Charged Over 12 Months
£300 £38 £10 £28 £40.36
£400 £48 £10 £38 £53.81
£500 £57 £10 £47 £67.28

There is a one-off £5 membership fee which enables you to be a co-shareholder in Suffolk Credit Union.

Once you have repaid your loan, you can either withdraw your savings, or leave them intact and have a loan of four times the amount you have in savings at the normal member rate of 12.7% APR. Or you can leave your savings in your account to earn a dividend.

Download a Loan Application Form Here
 

Firm Reference Number

http:/www.suffolkcreditunion.org.uk

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