Barrow & District Credit Union Your Community, Your Money, Your Credit Union

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Loyalty Member Loan

We offer these loans if you have had a loan (or loans) with us for over 12 months and you have never missed making any loan or savings payments over that period.

Because you will have demonstrated that you are a good borrower with us, we will charge an interest rate of only 1.75% per month, which represents an annual percentage rate (APR) of 23.1%, for loans of up to £1,000. Should you borrow between £1,001 and £7,500, you will only have to pay 1.5% per month interest, which represents an APR of 19.5%. We would again be prepared to top-up existing loans.

We will even be prepared to negotiate a special rate of interest with you should you want a loan in excess of £7,500.

Representative Example

1.75% per month 23.1% Representative APR

Loan Amount £1000
Loan Term 12 months
11 Monthly Payments of £94.45
1 Final Payment of £73.03
Total Interest Payable £111.98
Total Repayment Amount £1111.98

Figures are shown as a guide only and may differ slightly from an actual quotation. Terms and conditions apply.

On any loan made by us, you must be able to demonstrate that you have the ability to repay that loan.

Latest News

AGM Dates and Details

The 2017 Annual General Meeting is to be held on Monday 13th February 2017 at the Chetwynde Hotel, Abbey Road, Barrow in Furness at 6 pm. All members are more than welcome. Refreshments will be available throughout the event.

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