What makes our loans different?
Here at the credit union we want to make it as easy as possible for you to access a loan.
The main requirement to apply for any loan is that you must save while paying back the loan.
Members must not be Bankrupt, entered into an IVA or DRO, and should meet the criteria to repay the loan.
If you are a member who has an existing loan with us and are suffering financial difficulties please contact us ASAP as we may be able to assist you through difficult periods.
Calderdale Credit Union is not a Charity or Government funded, we are a Mutual Non- Profit Organisation and as such it is important for members to maintain their loan repayments as otherwise this would affect the ability for the credit union to offer loans to other members.
Personal, friendly service to meet your individual needs
We care about our members and will never lend you more than you can afford to repay. We help you to look at your income and expenditure to work out whether a loan is right for you, and what sort of repayment you can manage. We also encourage you to save, because getting into a saving habit is the best way of starting to feel better about your finances.
Fair and competitive interest rates
Interest is calculated on a daily basis – so as your loan decreases, the interest decreases too. This is different to many lenders. Every penny you pay in interest goes back into the Credit Union, so you are helping to provide services to other members.
No hidden charges
With a Credit Union loan you will know exactly how much you will have to pay. There are no set up charges and no penalty charge if you decide to pay off the loan early.
Choice of repayment options
You can choose to repay your loan either weekly, fortnightly, four weekly or monthly by standing order, payroll deduction or via benefit income.
Is available anytime, not just when you take out the loan. If you are worried about missing a payment or want to know the best way to save for Christmas, or any other special occasion, we are here to help.