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Flexible and Convenient Loans
Members may borrow up to £15,000. Repayment times can vary from 6 months to 5 years. For the larger loans, members will normally be allowed to borrow twenty times their savings although there are other types of loan available without the normal savings requirement. There are no set-up fees involved in a credit union loan and no penalty for early repayment – simply pay off the capital you still owe. Contact the office and they will send you details
Instant Access to Savings
Withdrawals can be made at any time, without penalty, in person at our office, by post or by BACS transfer to a designated account.
Free Life Insurance
We provide free life insurance on loans and savings for members up to the age of 65 years. In the event of your death, your nominee will receive double your savings and any outstanding loan is paid off.
See our Insurance Services Page »
Dividend of Savings
We pay a dividend on members’ savings, which is calculated daily. The dividend is declared at the AGM (usually in December each year) and is paid into your account, gross of income tax.
Make payments direct from salary or by Standing Order
Arrange your payments straight from your salary or by Standing Order from your bank if you prefer. This ensures regular, hassle free payments into your credit union account. You can of course make extra payments whenever you wish. We will send you a statement showing all transactions annually or on request.
Junior Savers
Once you have become a member, you can open a Junior Saver account for the younger children in your life who still share your home. On attaining the age of 16 years, they may become full members of the credit union providing they still share your home.
Member Services
Take advantage of a host of additional member services available. We offer a mortgage introduction/advisory service by the Yorkshire Bank and have arranged special discounts on a range of insurance products for our members. These include sickness and unemployment cover, as well as travel, car and home insurance. You can also get a great deal on motor vehicles at Fred Coupe Motors of Preston.
See our Insurance Services page »
Efficient and Friendly Service
You can be assured of a professional service from the credit union at all times. The General Manager and her experienced admin staff will always seek to make your dealings with the credit union a happy experience.
Benefits to the Employer
It has been shown that the primary cause of absence in the workplace is Stress whilst one of the key contributors to stress is concern about finance. An effective credit union is widely acknowledged as a Value Added Employee Benefit, appreciated by staff at all levels. Providing the support for this service, at virtually no cost, can –
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Improve productivity
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Address absenteeism through sickness and stress
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Reduce staff turnover
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Improve the working atmosphe
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Provide the basis for regular saving and prudent borrowing
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Educate employees in the ways of sound financial management
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04 September 2010
Download Share Withdrawal Form (22.7kb)