Loans

"Always think SAFE before you borrow ….. Think OCU Loan"

OCU Member Loans are Simple, Affordable, Flexible, Ethical

• OCU is a responsible lender - we will never encourage you to borrow more than you can comfortably afford to repay

• OCU loans are very competitive whether it is a short term loan a cash advance or longer term borrowing  

• Interest is charged on the reducing balance of your loan. This means that the amount of interest you pay decreases as you pay back the loan

• We are delighted to consider loans for any amount from £50 to £10.000

• There are NO set up costs

• There are NO extra charges or penalties if you want to make additional repayments or pay the loan off early

• We offer flexible repayment terms to suit you - choose to pay weekly, fortnightly, four-weekly or monthly

• Top Up Loans available fore those additional borrowing needs

• Most members qualify for FREE Loan Protection Insurance so that, in the event of your death, the outstanding loan will be repaid

• As you repay your loan repayments we encourage you to save as well. This provides members with increased security, growing savings and future choice

OCU Member Loans

 
• Members need to be 18 to apply and must have a savings account with OCU

• The interest rate will depend on a members individual circumstances and the loan amount requested

• OCU is a responsible lender and members may be asked to provide additional supporting documentation to support a loan application

• OCU may make searches at a credit reference agency to assist in the loan application process

OCU Loans Interest Rates                                             

Loan Value	APR%
£50 - £1500	26.8%
£1,501- £3,000	19.6%
£3001 - £5,000	12.7%
£5001 and over	9.8%

Loans Calculator click here to see exactly what a loan will cost you

Next Steps

OCU is always pleased to discuss your borrowing requirements so visit the Credit Union office, telephone 0161 678 7245 or go online at www.oldhamcreditunion.co.uk