Dalmuir Credit Union, Clydebank

Loans

Loans

A source of credit is available to almost all of us, the price you pay for that credit can vary enormously depending on you individual needs and circumstances. One of the credit unions objectives is to grant loans at fair and reasonable rates for all members.

  • standard loan rate is 12.687%apr representative
  • no setup fees or penalty clauses for paying early
  • lending policies designed to meet the need of the individual members
  • repayments to suit your budget
Credit Union Bank Loans Dalmuir Credit Union Clydebank Glasgow

.BORROWING LIMITS

The maximum amount that we are able to lend is £15,000 above the value of a members shares.

The minimum value of any loan is £50.00

The maximum repayment terms are 60 months for an unsecured loan [that’s a loan which exceeds your shares], and 84 months for a secured loan [that’s a loan less than or equal to your shares].

APPLYING FOR LOAN

Any member can apply to borrow from their credit union and must hold the minimum share level required [£3.00]

Applications can be made by telephone or in person at our office, an application form will be completed with you, and you will be required to provide information on your income and household expenses. Exceptions: No financial information is required when borrowing an amount up to your own share value.

Credit Union Debt Management Advice Dalmuir Credit Union Clydebank Glasgow

Assessing your application

We will assess your application on the information you have provided and you will be asked to provide proof of the income you have declared.

We assess your application on your history of borrowing and savings with the credit union and in line with normal lending practices the credit union uses a credit reference bureau to conduct a credit search for applications above a defined value and those which require supporting information.

Protection

As part of your membership the credit union provides, at no cost to you, insurance protection on your loans. There is a maximum value of protection, and current levels are provided on membership. The net effect of this is that your loan would be paid off in the event of your death.

There is no cover beyond the age of 80 and pre-existing medical conditions, and general exclusions apply