135 Hatfield Road, St Albans, Herts. AL1 4JX :
Phone 01727 859135 : Fax 01727 859135 :
Email: Office@stadcu.org
• While Credit Unions have freedom to charge an interest rate of up to 2% per month,
St Albans District Union usually charges 1% per month on the declining loan balance
-
• Loans are normally available up to £5,000.
• Term of Loan can be up to 5 years depending on the amount borrowed. There are
no arrangement fees and no charge for early or accelerated loan repayment -
• Repayments may be by cash or Standing order.
• Loans are normally unsecured” but members are asked to produce evidence of income and expenditure and show they can afford the repayments.
• Providing the borrower is under 70 years of age and subject to usual insurance conditions, free life insurance is automatically included with each loan.
• To apply for a Credit Union Loan download and print blank application form (3 pages). Complete form and return to Credit Union Office or collection point with supporting documentation. A CU officer can help and advise on completing the form.
Number of
Monthly
Repayments
Amount of
Repayments
Total
Interest
£
Total
Cost
£
12
24
36
48
60
88.55
47.07
33.21
26.33
22.24
66.20
129.68
195.56
263.84
334.40
1,066.20
1,129.68
1,195.56
1,263.84
1,334.40
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