The new school year can be an expensive time for families, so if you need a little help with the cost of uniforms, shoes, sports kit, books, bags etc, talk to the Credit Union.
As the end of the school holidays approaches and the kids start preparing to go back to school, the costs can spiral. Our range of low cost loans offers one of the most affordable ways to borrow, from small amounts upwards, so is perfect for covering those school essentials. We will never encourage you to borrow more than you need, and you can pay off your loan over a timescale that suits you.
With our unique Saver Loan, for example, part of your regular repayments is allocated to your savings account, which means that as you repay your loan your savings grow. You can then access your savings once the loan is repaid. This Saver Loan principle means that you gradually reduce and ultimately eliminate your need to borrow – great for helping with next year’s school expenses, Christmas, holidays or something essential at home.
You can apply for one of our low cost Saver Loans at any time. If you are not already a member of the Credit Union, once your loan is granted you will need to join with an opening savings deposit of £50. As well as a very competitive rate of interest, there are no hidden charges with our loans and you only pay interest on the outstanding balance. You can pay off your loan at any time without penalty.
Credit Union Director Elisabetta Berteroe said: “The new school year can be an expensive time for families, but we would urge people not to turn to high cost lenders or expensive credit card debt. Talk to us instead about one of fair and affordable loans, which will help you spread the cost without paying sky high interest, and our Saver Loan will even give you the chance to start building up some savings at the same time.”