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Shares Based Loans

It seems as if savers are being punished these days.  Rate for savers have fallen dramatically, yet at the same time the cost of borrowing has risen. At Central Liverpool Credit Union we believe that savers should be rewarded not punished, so as well as receiving low interest loans credit union members receive FREE life and loan insurance.

A shares based loan is one based on your shares/savings within the credit union with interest charged at 1% per month on the reducing balance of the loan(12.68% APR).  The first shares based loan is a trial loan and has a limit of 500 plus share balance.   You will need to have saved for a minimum of 12 weeks/3 months to qualify for a shares based loan.  All loan applications will be considered on an individual basis by the credit committee.  You will need to provide up to date proof of income with your loan application.

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Central Liverpool Credit Union Tel: 0151 708 5515 Email: enquiries@centralliverpoolcu.co.uk Web: http://www.centralcu.co.uk/
Central Liverpool Credit Union is authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential Regulation Authority. FSA FRN: 213251