As it stands, it looks like most children will be heading back to school in September, which means lots of extra expense kitting out the kids with new uniforms, shoes, sports gear and more. If you think you might need some help paying for everything, talk to us about one of our low cost loans.
The new school year can be a very expensive time for families, but rather than running up eye-watering overdrafts, credit card bills or turning to high interest lenders, why not get in touch with the Credit Union? We can provide you with some extra financial help when you need it.
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 people to borrow more than they 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 repayment is allocated to a savings account for you, which means that as you repay your loan you start to build up savings, which you can access once the loan is repaid. This Saver Loan principle means that you can 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.
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 competitive rates 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.
Martin Groombridge, Chief Executive of the Credit Union, said: “It’s been a difficult year for everyone and the cost of school uniforms, and all the other things kids need for school these days, can be daunting. We would urge families to talk to us if they think they might need some extra help this year – our loans are fair and affordable and we can also help you start saving.”
If you’re interested in one of our low cost loans, it’s a simple process to apply for Credit Union membership online and then register for online access to submit your loan application.
