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t: (01685) 377888 e: info@mtbcu.org.uk

Merthyr Tydfil

BOROUGH CREDIT UNION

Loan Products

YOU CAN APPLY FOR A LOAN VIA THE MEMBER'S AREA SECTION OF OUR WEBSITE, HOWEVER IF YOU ARE ON A MOBILE DEVICE THIS OPTION WILL NOT BE AVAILABLE.

YOU WILL NEED TO USE A PC OR A LAPTOP.

YOU WILL BE REQUIRED TO EMAIL YOUR LAST 6 WEEKS BANK STATEMENTS TO SUPPORT YOUR LOAN APPLICATION.

There are two types of loan available from the Credit Union:

1. Secured Loan

Borrow against your savings with a secured loan. Your savings balance must be equal to or exceeds the loan amount requested and will be locked until the balance of the loan is repaid.

Preserves the insurance on your savings and get free life insurance cover on loans taken out before your 80th birthday.

Secured loans are available from £100 to £15,000 at a rate of 5.9% (APR) The maximum term on secured loans is 7 years.

To apply complete a Secured Loan Application form which will be fast tracked for approval.

 2. Unsecured Loan 

To apply for a Standard Loan, no regular savings period is required.

Our Standard Loan product is available in amounts from £100 to £15,000 (subject to status and approval) and must be repaid within 60 months. The interest rates start from 7.9% (APR)

We require all borrowers to save a small amount, £1, £2 or £3 per week (or monthly equivalent), into your Attached Savings account as a condition of the loan: which is locked until the loan is repaid: This will also enable you to build up your savings and help you move to a Secured Loan in future.

Applicants will need to complete the necessary loan application form and provide documentation to confirm their income and expenditure. 

 

 

 

 

 

 


Merthyr Tydfil Borough Credit Union 139 High Street, Merthyr Tydfil, CF47 8DN, 01685 377888
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 213643

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