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

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Member Loan

We offer this type of loan if you are a member who has regularly saved with us for at least 3 months. As we have got to know you and you have proved that you can save regularly, we charge a reduced interest rate of 2% per month, which represents an annual percentage rate (APR) of 26.8%.

We will ask you to commit to saving at least £1 per week or £5 per month for the period that the loan is in existence. We will also consider a top-up loan application from you once 50% of the existing loan has been repaid.

Representative Example

2% per month 26.8% Representative APR

Loan Amount £1000
Loan Term 12 months
11 Monthly Payments of £96.11
1 Final Payment of £70.91
Total Interest Payable £128.12
Total Repayment Amount £1128.12

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.

We all look...